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> And you can just not buy the shares. It's very straightforward.

Sure, but the SEC exists, in theory, to make that decision one you can make an informed decision on, because con artists don't typically put a disclaimer in that says "this is bullshit".

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You can't make an informed decision on it unless you do your own research and analyze an individual stock. Then it's up to you to decide if it's worth investing in. This is true for any investment. Just because you think something is bullshit doesn't mean it is. Maybe you're just wrong. Buy the security or don't.
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