Gamble of the week: A punt on Californian water

The smaller end of the stock market is stuffed with companies that make no money today, but have the potential to make lots of it at some time in the future if something good happens. Quite often, though, the profits never arrive and investors lose all their money.

These types of companies and their shares are very high risk. Normally, I wouldn’t go near them, but as long as you are not investing your life savings, they can be a lot of fun.

However, shares in Nasdaq-listed stock have piqued my interest due to the fact that successful London-based hedge-fund [...]

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