Those that can do, those that can't, sell seminars

http://www.sec.gov/litigation/litreleases/2009/lr21331.htm

Investools now a part of Ameritrade

They must be proud

 

LOL

The Commission's complaint alleges that from 2004 to approximately June 2007 at Investools how-to-trade-securities workshops former Investools employees Drew and Miller misleadingly portrayed themselves as expert investors who made their living trading securities. They did so to mislead investors into believing that they too would make extraordinary profits trading securities if they purchased expensive Investools instructional courses and other products and followed Investools' securities trading strategies. The complaint further alleges that in reality, neither Drew nor Miller made the trading profits they claimed. For example, in 2005 and 2006, while Drew was portraying himself as a successful investor, he had hundreds of thousands of dollars in net trading losses. In 2006 and 2007, while Miller was portraying himself as a successful investor, he had tens of thousands of dollars in net trading losses.

 

They're also preparing to buyout Robert Kiyosaki.

 

don't pay for those rip off seminars, because I did it so I tell

 

This should be obvious to anyone who's thought about it for five minutes. Those who haven't thought about it for five minutes, well, they're the target audience of course.

 

I'd like to see the p&l for Tim Knight, now or formerly of Investools . . . When he said one day that his account was up 18% THAT MORNING . . . I began to have my doubts.

There's a really simple solution here: no selling systems unless you can demonstrate results on something like Covestor (I tried to sign up but they don't accept IB for some reason . . .)

 

I read the charges and I don't get it . . . If there's an audience for get rich quick schemes, then people should be able to sell them. Prosecuting this sort of thing just reinforces the idea that the water is safe and there are no sharks . . . There are sharks and this sort of enforcement doesn't change any of that.

And I bet the Investools advice is actually pretty good . . . The problem is that nobody follows it, not even the instructors.

 

Next enforcement action: suing fat diet experts.

Hey, even fat doctors can give good advice.

In fact, good trading is, in my opinion, much like dieting . . . It's about avoiding the temptation to buy weakness and double down.

Can't miss stock hitting new lows=pepperoni pizza and a coke

 

TD Ameritrade has bought Think or Swim , what about them?