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Success Magazine's 5-Step Online Investing Method
Old 09-26-2007, 10:26 AM   #1
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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
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Old 09-26-2007, 10:29 AM   #2
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It is wonderful. Everyone should buy it. I hope you didn't let the opportunity pass.

Ha
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Old 09-26-2007, 10:32 AM   #3
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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.
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Old 09-26-2007, 10:37 AM   #4
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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!
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Old 09-26-2007, 10:40 AM   #5
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Go away spammers! We have enough advertising on this site without your BS.
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Old 09-26-2007, 10:49 AM   #6
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Brew...I am not spaming...just asking a question!
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Old 09-26-2007, 10:54 AM   #7
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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.
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Old 09-26-2007, 10:55 AM   #8
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The answer is the obvious. If it really worked, one wouldn't need to sell it.
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Old 09-26-2007, 11:05 AM   #9
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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.........
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Old 09-26-2007, 11:28 AM   #10
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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
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Old 09-26-2007, 11:32 AM   #11
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Quite honestly, the REAL MONEY is made in selling "suckers" the "way to riches" for "only $999.........
Or in e-books!
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Old 09-26-2007, 05:18 PM   #12
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If it sounds too good to be true,
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Old 09-26-2007, 05:33 PM   #13
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"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.
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Old 09-26-2007, 05:34 PM   #14
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Isn't it like winning the lottery? Just throw the $999 over your shoulder and have your dear spouse catch it.
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Old 09-26-2007, 05:45 PM   #15
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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 ...
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Old 09-26-2007, 06:12 PM   #16
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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
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Old 09-26-2007, 06:18 PM   #17
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Quote:
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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.
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Old 09-26-2007, 06:56 PM   #18
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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.
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Old 09-26-2007, 08:22 PM   #19
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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.
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Old 09-26-2007, 08:34 PM   #20
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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
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