by Howard Haykin

Perhaps it’s restlessness that comes from self-quarantining for prolonged periods. Or maybe it’s impatience that comes from watching one’s stock portfolio collapse in a matter of days, only to rebound slowly in fits and starts. Whatever the reason, individual investors are now piling into speculative penny stocks - volatile but cheap investments - and this alarming trend troubles CNBC commentator Ron Insana on several levels.

• Investors, with little guidance or education, have opened new brokerage accounts, obtained excessive amounts of margin credit, and jumped head-first into the stock market.

• Investors have collectively chased tips retrieved from a wide variety of internet sites, message boards, and social media platforms - all of which claim “that this or that stock is going to double in a day, or some such claim.”

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• Almost every single day, a new hot stock or group of stocks has hit the leader board.

• The current stock market rally is admittedly “long in the tooth,” suggesting that caution rather than speculation is warranted.  

INVESTOR TAKE-AWAY.    While Mr. Insana readily admits to professing an opinion which could be wrong, he nonetheless would advise investors to ditch margin accounts and penny stocks, and focus attention on quality investments.

[For further insight into Mr. Insana’s comments, click on CNBC.com.]