Stock Doppelgangers: Proceed With Caution

MILLBURN, N.J. (Stockpickr) -- Your doppelganger is a person who looks just like you. In some cultures, there is lore of the doppelganger being an evil person or a ghost who haunts a living person.

In the world of investing, we also have doppelgangers: companies with names that sound or look alike and are easily confused. Investing in a doppelganger stock has risks -- the most notable of which is that you wind up investing in the wrong stock, which may have a totally different risk profile and investment outlook from the stock you intended to invest in. You might wind up compounding your mistake by having to unwind the wrong transaction. By that time, the investment or trade opportunity may have dissipated.

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