As promised, we’re resuming our newsletter takedowns series this week. A reader requested we review a site called Virtual Investing Club and their related product called “Option Magic.”
What do they sell? An introductory book & DVD (”Option Magic”) about options trading, plus access to a website (Virtual Investing Club) where they track a model stock & options portfolio. Summary conclusion: There are dozens of plain vanilla “intro to options trading” books and ebooks out there, and we can’t imagine why anyone would pay…
It’s been over three months since we posted a takedown, and you guys are getting restless. So, Monthly Cash Thru Options is one site that people seem to request a lot.
What do they provide? A newsletter publishing credit spreads and iron condors. Summary conclusion: While the basic strategy is sound (hint: we trade iron condors too), we have some serious questions about the risk management and long-term viability of the approach taken on this site.
Honest marketing - Pass
To be honest, we couldn’t track down…
We’ve all been there: it’s late, you can’t sleep, and there’s nothing much on TV. (And Tivo hasn’t been invented yet.) You flip through and happen upon a guy in a sailboat, who apparently also owns lots of red sports cars and spends a lot of time running down the beach with beautiful women. How did he get this way? Why, by buying the [fill in the blank] trading course, of course!
Wizetrade, Teach Me to Trade, Optionetics… they all make…
What’s a “siamese condor”, you ask? Mike Parnos explains. We’re only bringing this up because a member asked, and because it presents such a great opportunity to ridicule yet another snake oil salesman, as we’ve become known for doing in our Takedowns series. Incidentally, we’ve actually already dealt with Mike Parnos and his Couch Potato Trader newsletter.
Here’s the thing: Mike Parnos is either utterly mendacious or merely hopelessly clueless. But hang on, let’s give him the first word:
The iron condor, however, does not…
We get a lot of requests for takedowns of different sites and newsletters now. One problem is that new services seem to crop up constantly, at a much faster rate than we can debunk them, in a kind of perpetual game of whack-a-mole. The subject of this takedown is a very prominent newsletter site called OptionInvestor.com. They’ve been around for awhile now, and we’ve received some questions about them.
What do they provide? Eight, count ‘em eight different newsletters, ranging from stock picks…
Sunday, June 1, 2008
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