Buyer Beware: Recent case shows broker encouraged client to buy 'crap' and 'vomit'

A case in the news recently reminds me how careful individual investors need to be when listening to the advice of stock brokers -- even though this case involves a hedge fund, Pursuit Partners.

A Connecticut Judge has granted a hedge fund a $35.5 million prejudgment lien against UBS Securities and its parent, UBS AG. The decision is preliminary and does not determine the case on its merits.