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OnLine Trading MALARKEY ALERT! Academy Award for Trading Room Acting

Tue October 16 2012 8:31 am  http://www.arlingtoncardinal.com/?p=56232
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Dear Paul B Fans,

As you know, I have been a “perpetual investor” since uttering my first words, which were “BUY, BUY, BUY.” I believe in capitalism, unlike a few Presidential candidates here and there. It is critical on many levels to be abreast of our investment opportunities and the global market, as a whole. There are multitudes of educational offerings, which can be mind boggling, in which to gather a basic, and, when appropriate, an advanced understanding of trading techniques and strategies. I can, however, alert you to one that is a Must to avoid. Noticing these constant ads, both on TV and in my Tribune, an online training seminar piqued my interest recently. I attended one of their “grab a free lunch” seminars (can’t pass up a FREE heaping plate of dorm food,) and was taken in by their promises to make me rich. “It is as easy as 1-2-3,” crowed this Russian “kid,” who couldn’t have been in the U.S.A. long enough to have made his fortune as a trader. The six other suckers, or potential clients had a few pertinent questions, but these questions were answered, like a politician in the heat of a senate race.

This was one of the biggest scams I had ever seen. The “deal” this week was just too generous to pass up. The online training seminar leaders were willing to cut their cost in half–that’s right, 50% off for us, if we signed today. For a three week training course in their academy, we could become master traders for $11,400.That’s it! We would make billions within just a few months, AND, we get to use a computer too! (I think the bagels and coffee were additional, after today.)

When I interrupted the academy “instructor,” that I would like a list of just TEN of their best clients, their audited trading results, and contact numbers, I was asked to hold that thought. They must have hundreds of wealthy clients, since it’s just that simple to learn. Somehow I was skeptical of these charlatans, because I have been doing this for 33 years, and still struggling at times. I knew this request would never be met, ever…

Furthermore, would you believe that these scoundrels “hired” a half dozen or so galoots to show up in their “trading/war room?” I overheard two of these knuckleheads discussing that the van was late picking them up that very morning. This trading room was created to demonstrate “real traders in action.” What a shameless scam this was. What I recall most was a “retired ex-trader” who had made several millions over the years, but now felt that the need to help others find their way to financial independence. Imagining this man leaving his beach cabana in the French Antilles, to help us poor heathen to accumulate fortunes beyond our wildest dreams. This truly brought a tear to my eye.

After a 10 minute break, I was asked to leave. Somehow my questions for proof were a tad intimidating and ruining the presentation. I know that two of these visitors/jamokes were ready to write that $11k check any minute, lest they wait to accumulate those Romney-Like Riches.

By the way, I called the next day to speak to the “director,” and my call was NOT returned. How bout that.. Sham, scam, thank you Ma’am. Business as usual at the school of hard knocks.

Paul B

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ASK PAUL B! usually appears on Thursday evenings, but occasionally appears on other days or times so the article might be introduced to new readers.

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