Complete nonsense.
My old man took a punt on a dozen shares, most of which floated less than $1.00. He is now very wealthy. His best bet was CSL which floated at 2.30 (albeit not micro but not large cap either.). You know what happened there.
RCR Tomlinson, bought at 11c, now over 4.70.
Buy and hold I maintain is still the best strategy, even with micro caps. You just have to pick the right ones.
