His name is Phil Town. My friend just called me up and told me he went to this seminar for his business class, and there was this guy..i guess he's a trader, named Phil Town, who has a website or something where you get access to insider trading .....that from what he told me is legal. I dont know how, but maybe theres some loop hole, but he is able to tell you WHO is buying and selling their shares at any givin moment, and he tells people this is how i have an edge over the market ...i didnt really understand, but thats what i was told. I know its all BS to begin with, but has anyone else herd of this fluke? thanks cm
He wrote a book on value investing a couple years ago...and he was a speaker for Investools...that in and of itself is a red flag to me. Seems based on what you said he is already hawking a new method as the "next best thing"... I'd steer clear in that case.
From his site: Within five years, Town had built a borrowed $1,000 into $1 million. His fortunes improved radically, and rapidly, from then on. How in the hell could someone turn $1000 into $1MM in five years by value investing? Shit, you can't even get that kind of leverage from a shady Russian spot FX bucketshop, much less the stock market. Not saying he didn't turn $1k into $1MM in five years through savvy business deals, marketing, etc....but something tells me it didn't come from value investing, which is what he implies in his statement. Hmmmm....
Not possible to make that money by value investing in that time frame. You can take a $1000 and turn it into a million in one year in forex but you have to be flawless.
He's an actual trader but a spokesperson for Investools, 3 Red Lights/3 Green Lights. The system is based on multiple Stochastics and MACD's overlayed on stock charts. It's ok but nothing I would put my hard earned money into. Phil is a nice guy, I've met personally but there are better ways to learn to read the charts than what he tauts.
Seems like a bit of an oxymoron. I made the mistake once of going to an Investools seminar. Basically, count the lights and make your money - and so much OTHER functionality. "Which stock would you buy, the one with 9 out of 10 lights green, or one with 3 out of 10 green? How could it be simpler? I almost expected to see a juggler on a unicycle come out...