I have seen advertisements, and have listened to radio advertisement raving about the cool laser for the treatment of baldness. Are there any statistically valid studies that have shown that they work to either stop hairloss or grow new hair?

There are studies, but they were done by people connected with the business, so I will not believe them until they are done by a completely independent source. See my prior posts on lasers here.

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Balding Forum - Hair Loss Discussion