The SEC for not going after the lying crooks on WallSt but going after a fifteen year old kid. It just goes to show that if you pay the SEC enough money they will look the other way.
Is he that bad? I found a copy of his Compleat Day Trader on sale for $12 so i bought it. Didn't look that horrible and maybe I can get some idea out of it that I can adapt and use. I haven't read any of his other stuff so i can't say. The real jokes to me were some other books I saw. One I flipped to the middle of its 200 or so pages and there was a full page explaining and diagramming a price bar and arrows showing the open, high, low, and close. What were the 100 pages leading up to this then? And by the end of the book you're supposed to jump in and start trading?
Joe the Bull Batipaglia . A few months ago he said put the majority of your money into stocks. Notice how we don't see him that often anymore. He only rears his head when the market goes up .
Wow! There was an outfit pushing options on gasoline futures in a TV infomercial near the top of the bull market circa 1999-2000. I heard a radio commercial very recently that sounded like the same scam.
bob brinker.he tells every one every weekend that he got his followers out in JAN 2000 but wont tell any one that he told his people to buy QQQ at 80 and is still holding. http://www.suite101.com/discussion.cfm/investing/77505/latest/697
Haha, well, I'm not THAT old (29), but the commercial came out in the mid 90's...I think he got in trouble with the CFTC over it (imagine that!) and had to pull it. As far as his books go, any one of them looks just like the others. Remember, he is a futures trader (supposedly). First he had "The Compleat Day Trader" (I and II) for futures, and then he came out with "The Compleat Guide to Daytrading Stocks". He picked up on stock trading fast enough to cash in on the book gold rush. That makes me think he really doesn't trade at all, but instead rehashes material into the fad of the day...much like Sunny Harris (don't even get me started on her...)
I remember that TV ad. There was a scene of a guy sitting in the rig of his 18-wheeler talking about how he use's Jake's system to trade futures. Does he place the orders via CB radio? "Yaaaaaahoooooooo! This here's the "bigrig", come back. Gimme 10 o'them April pork bellies an' throw in a messa #2 top-weight feeder heifer calves!"