Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Success Magazine's 5-Step Online Investing Method
Old 09-26-2007, 11:26 AM   #1
Confused about dryer sheets
 
Join Date: May 2007
Posts: 7
Success Magazine's 5-Step Online Investing Method

I went to a seminar yesterday called "Get Motivated". The seminar had a lot of good speakers like Steve Forbes and Colin Powell. Phil Town who wrote the book Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week! was also a speaker and he was pitching an investing program by Success Magazine's 5-Step Online Investing Method. He said you would make 15-25% year in and year out with very little risk using covered calls. The program was on sale for that day only for "only $999...any other day it would be $6K+. This sounds too good to me...there has got to be a catch. Has anyone used this investing method or heard about it?
Thanks,
Kamwak
__________________

__________________
Kamwak is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-26-2007, 11:29 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,380
It is wonderful. Everyone should buy it. I hope you didn't let the opportunity pass.

Ha
__________________

__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 09-26-2007, 11:32 AM   #3
Thinks s/he gets paid by the post
MasterBlaster's Avatar
 
Join Date: Jun 2005
Posts: 4,359
Run away from this nonsense.

So unless it is worth ~$1k to hear the likes of S Forbes and Colin Powell talk it won't be worth it.

I have seen these things advertised. They are often held in sports arenas and the like. You could be sitting quite aways away from the speakers.

Covered calls: all of the downside risk, none of the upside potential, and with very little income. I'll pass on those "safe" investments.
__________________
MasterBlaster is offline   Reply With Quote
Old 09-26-2007, 11:37 AM   #4
Dryer sheet wannabe
 
Join Date: Sep 2007
Posts: 23
It is much more than just attending one more seminar. It is a very extensive educational program - with many different levels you can join. This part of it is a big turnoff - but they do have a lot to offer. For more information than you probably care to read about - is at:
Phil Town & INVESTools on InvestorGeeks

Those that speak negatively of the program (on the website) typically haven't been very involved. If you have lots of time, and want to learn a lot more about the stock market and options - and can get past their "bait" with the investment classes, it is worth the effort. Hope this helps!
__________________
KanDo is offline   Reply With Quote
Old 09-26-2007, 11:40 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Go away spammers! We have enough advertising on this site without your BS.
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 09-26-2007, 11:49 AM   #6
Confused about dryer sheets
 
Join Date: May 2007
Posts: 7
Brew...I am not spaming...just asking a question!
__________________
Kamwak is offline   Reply With Quote
Old 09-26-2007, 11:54 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Quote:
Originally Posted by Kamwak View Post
Brew...I am not spaming...just asking a question!
Don't pee on my head and tell me it is raining. I get enough of that at work.
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 09-26-2007, 11:55 AM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,874
The answer is the obvious. If it really worked, one wouldn't need to sell it.
__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 09-26-2007, 12:05 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by Kamwak View Post
I went to a seminar yesterday called "Get Motivated". The seminar had a lot of good speakers like Steve Forbes and Colin Powell. Phil Town who wrote the book Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week! was also a speaker and he was pitching an investing program by Success Magazine's 5-Step Online Investing Method. He said you would make 15-25% year in and year out with very little risk using covered calls. The program was on sale for that day only for "only $999...any other day it would be $6K+. This sounds too good to me...there has got to be a catch. Has anyone used this investing method or heard about it?
Thanks,
Kamwak
Ok.............I'll help......... I am in a partnership with an RIA who has been one for 20 years. He does covered call writing EVERYDAY, and if there was a system for doing it with little risk and making 15-25% a year, he would have found it, developed it, and used it.

Sounds like a toned-down version of a little varmint called Wade Cook, who used to do seminars telling folks to write covered calls on stocks under $5 that had a lot of volume. I don't know who got to him faster, the SEC or the IRS, but he's toast.

Quite honestly, the REAL MONEY is made in selling "suckers" the "way to riches" for "only $999.........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 09-26-2007, 12:28 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 18,261
There must be a turnip truck convention in town.

Does this guy ( Kamwak or KanDo) know 'Faith'?

If you are truly not a spammer, then explain why Investools is LOSING MONEY as a corporation? Don't they practice what they preach?

from that other thread:


INVESTools, Inc. (SWIM)

SWIM: Key Statistics for INVESTOOLS INC - Yahoo! Finance


Profit Margin (ttm): -16.13%
Operating Margin (ttm): -10.34%

Management Effectiveness
Return on Assets (ttm): -4.77%
Return on Equity (ttm): -115.91%
EBITDA (ttm): -9.51M
Net Income Avl to Common (ttm): -34.95M
Diluted EPS (ttm): -0.66

Balance Sheet
Total Cash (mrq): 33.92M
Total Debt (mrq): 123.12M
__________________
ERD50 is offline   Reply With Quote
Old 09-26-2007, 12:32 PM   #11
Full time employment: Posting here.
 
Join Date: Dec 2006
Posts: 509
Quote:
Originally Posted by FinanceDude View Post
Quite honestly, the REAL MONEY is made in selling "suckers" the "way to riches" for "only $999.........
Or in e-books!
__________________
Peaceful_Warrior is offline   Reply With Quote
Old 09-26-2007, 06:18 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2007
Posts: 5,072
If it sounds too good to be true,
__________________
chinaco is offline   Reply With Quote
Old 09-26-2007, 06:33 PM   #13
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 1,015
"Only $999", huh? When I had my Investools "experience" it was called the BusinessWeek 5-Step Online Investing Method and I wasted spent more than $3,000 before I woke up and came to my senses. Boy, how I wish I knew about this forum back then. Oh well.

I agree with the others here -- if these systems were any good, the pros would already know about them. Save your money! The only ones who'll make money from these schemes are the folks selling em...but judging by their recent financials, maybe not so much.
__________________
Achiever51 is offline   Reply With Quote
Old 09-26-2007, 06:34 PM   #14
Moderator Emeritus
CuppaJoe's Avatar
 
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,866
Isn't it like winning the lottery? Just throw the $999 over your shoulder and have your dear spouse catch it.
__________________
CuppaJoe is offline   Reply With Quote
Old 09-26-2007, 06:45 PM   #15
Thinks s/he gets paid by the post
tryan's Avatar
 
Join Date: Mar 2005
Posts: 2,449
A good friend spent 4k on Optioneer; it's an options trading scheme. Swore he'ld make 50% on his wad every year. Still waiting for those results. Did make 15% last year (about what the S&P paid with a lot less risk).

Have a call into him ... I'll ask for this years results so far. Seems it's always ONE bad trade that ruins the year. Oh well ...
__________________
FIRE'd since 2005
tryan is offline   Reply With Quote
Old 09-26-2007, 07:12 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 18,261
I gotta wonder, are people like Faith, Kando and Kamwak really spammers?

I mean, a little time spent searching the forum would show that a lot of people here will shine a bright light on the 'get rich quick' schemes. Which seems to get them a lot more negative publicity than positive.

I guess I'm giving spammers too much credit.

-ERD50
__________________
ERD50 is offline   Reply With Quote
Old 09-26-2007, 07:18 PM   #17
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,074
Quote:
Originally Posted by ERD50 View Post
I gotta wonder, are people like Faith, Kando and Kamwak really spammers?...

....I guess I'm giving spammers too much credit.
I vote "yes" to both questions.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 09-26-2007, 07:56 PM   #18
Recycles dryer sheets
 
Join Date: Nov 2006
Posts: 77
Quote:
Originally Posted by ERD50 View Post
I gotta wonder, are people like Faith, Kando and Kamwak really spammers?

-ERD50
Odds are they aren't all spammers. There clearly are people who buy these programs which means there have to be people who don't know they are junk ... and some of those people probably just end up here.

I would also guess that since most of these programs seem to have advertising budgets that allow them to buy seemingly endless hours of time on cable every weekend that they may not feel they need to spam. But of course that's pure conjecture.
__________________
Anansi is offline   Reply With Quote
Old 09-26-2007, 09:22 PM   #19
Recycles dryer sheets
 
Join Date: Jun 2007
Posts: 359
Well...to be the devil's advocate...if writing covered calls is a guaranteed losing strategy...and options transactions are a zero sum game...then taking the opposite side of the trade (buy the option, short the equity)...must be a guaranteed winning game?

Its all not that simple folks. Writing covered calls CAN actually be a decent income generating strategy when done in a reasonable way (minimized trading costs, keeping taxes at bay by doing it in an IRA, etc.).

In reality, something like 90% of all CBOE options expire worthless. Hence the motivation to be an options seller, not an options buyer.

But, I sure as **** wouldn't pay $3k ... or $999 ... or whatever ... to learn about this remarkable strategy. The public Wiki page explains it well enough for me to implement it as I choose.
__________________
FinanceGeek is offline   Reply With Quote
Old 09-26-2007, 09:34 PM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 18,261
Quote:
Originally Posted by FinanceGeek View Post
Well...to be the devil's advocate...if writing covered calls is a guaranteed losing strategy...
Who said CCs must be losing? I think we were just responding to 'Only 15 Minutes a Week! ... make 15-25% year in and year out with very little risk using covered calls'

THAT, I think is unrealistic. I was about to describe technically why I think so, but common sense (and other posters) give us the answer. Why sell the idea (and lose money doing it?), if it so great? Just do it, and keep it to yourself.
-ERD50
__________________

__________________
ERD50 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Understanding Guyton withdrawal method rayvt FIRE and Money 16 09-19-2007 11:36 AM
Which encryption method should I use for my home network? cube_rat Other topics 7 01-08-2007 09:26 AM
endowment method of retirement spending starboardtack FIRE and Money 31 06-21-2006 07:50 PM
Question on ESRBob's withdrawal method brewer12345 FIRE and Money 20 01-09-2006 09:11 AM

 

 
All times are GMT -6. The time now is 01:04 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.