Here are some types of investments beginners should generally avoid when just starting out:

• Penny stocks – Ultra cheap stocks of small companies trading under $5 per share. Highly speculative and prone to manipulation.
• Over-the-counter stocks – Stocks that trade over-the-counter instead of on major exchanges. Lack oversight and transparency.
• Complex derivatives – Futures, options and other complex derivatives require extensive knowledge before investing. High leverage amplifies risks.
• Illiquid investments – Private equity, restricted shares, non-public companies. Cannot readily sell to exit position. Locks up capital.
• Commodities futures – Direct investment in commodity futures contracts requires deep understanding. Extreme volatility.
• High-fee funds – Actively managed mutual funds with high expense ratios and excessive fees reduce returns.
• Cryptocurrencies – Still an emerging area with high volatility and complexity. Need extensive knowledge.
• NFTs – Non-fungible tokens are highly speculative currently, lack transparency and regulation.
• Junk bonds – Bonds issued by companies with poor credit ratings carry excessive default risk.
• Foreign developing markets – Foreign emerging and frontier stocks add political, currency risk on top of investment risk.

Beginners are better off starting with building a core portfolio of low-cost, diversified ETFs, blue-chip stocks, investment-grade short-term bonds and open-end mutual funds focused on major asset classes. Learning the basics before venturing into more complex assets.