Has anyone gotten rich on the stock market?

I've had stocks go up 10x, 20x over many years. None of them were ever penny stocks.

Investing well is not just gambling or getting lucky on hot tips. You need to read, study, take classes, etc. Here are 3 books I always recommend for novices:

One Up On Wall Street - Peter Lynch

A Random Walk Down Wall Street - Burton Malkiel

The Intelligent Investor - Benjamin Graham

Nobody got rich on penny stocks. BUT if you know the story of that industry segment well, you can get in when the good stocks are cheap (have value) and see it grow. Your initial investment needs to be huge in order for you to become rich. (10% of $100 is $10, but 10% of $ one million is ..

You also need to stay invested ie your money must not be parked in cash except for the very short term. (With good selection, you can make money on about 60% of the deals but the over an year or more, the Return On Capital Employed needs you to be invested every day).

OK

No. I broke even on a penny stock once. It produced a consumer product, a pen-type stain remove from clothes. The price doubled, I sold half the shares, the price then went down to a few cents a share, and I bailed out.

Yesterday, I found some old brochures, on "can't miss' penny stocks. So I tried to find a current price on 10-12 of them. One actually had a price, only 30-40% lower than when I received the brochure in '06.

The others were either down to $01 per share, or $.005, or didn't show up when I punched it the symbol.

They're all in the recycling bin. If you want them, let me know by Wednesday. I'll send them to you.

I musta' had a lot of time on my hands back then.

You asked two questions. Yes I got fairly rich on the stock market.I did that by investing in high quality blue chip stocks, mostly "defensive" stocks that make and/or sell products and services that people need every day. (Food, Consumer Products, Oil & Gas, electricity, pharmacueticals)

Ellis, 63, has four decades of investment experience. In the 1960s, he helped manage the Rockefeller family's fortune and punctured "go-go" stocks as an analyst at Donaldson Lufkin & Jenrette. Later, he founded Wall Street's top consulting firm, Greenwich Associates, which provides financial advice to everyone from Goldman Sachs to Fidelity and T. Rowe Price, and he currently oversees the $10 billion endowment fund at Yale University. Ellis has also written trailblazing articles and books, including "The Loser's Game" (a 1975 article that spurred Vanguard's founder, Jack Bogle, to introduce the first index fund for individual investors) and Investment Policy, a classic book reissued in 1998 as Winning the Loser's Game. (Disclosure: I helped edit the revised version but took no fee.) His new book, Wall Street People, paints an array of intriguing portraits of some of the great investors of the past century.

Here is a secret. Great companies rarely ever start out as penny stocks. Buying penny stocks is a fools game.

I am sure a few have. But millions have lost their money also.