Can you belive Yahoo Finance let this guy publish an article about investing? "I had taught him a strategy by which he could make an estimated 10% a month with very little risk compared to most stock trades." "However, with a little knowledge about trading, covered calls, and other option strategies you should have little trouble bumping this number up conservatively to 30% a year." http://biz.yahoo.com/opt/051201/564f0395206e290ec5e09b7a1ada2d17.html
Thats just the beginning. Optionetics, the source of this article, had a VERY favorable article written about it in businessweek a couple of weeks ago. Businessweek basically recommended that people should take their $3999 option education class. Those guys already pull in millions every year. I'm in the wrong business.
I believe the 10% a month was referring to his options strategy. The "increase" to 30% a year was from the average investor return (according to him) of 10.4% a year. Regardless, this article deserves to be taken with a very large grain of salt.
This is typical Optionetics. I've never bought their stuff but I have followed Fontanills and his Optionetics stuff over the years. What is it about options that brings out all of the mystical "You can make millions safely with just a few secret or (run of the mill) options strategies"? Fontanills is not a Wade Cook or 4 X Made easy type of scammer, but those seminars he sells sure do seem to push the "Even if you don't know much, you can make a ton of money with options - even on vacation!..." Yeah, just shell out $3,000 or whatever and they'll show you how. If it was "so easy" to make 30% just selling cov calls, we'd all be mulit-zillionaires.
http://www.elitetrader.com/vb/showthread.php?threadid=59831 ask this guy how much you can make (or lose)with covered calls.
don fishback almost never has a losing option trade. i know because he told me so in a flyer i got in the mail.
Optionetics is a big advertiser on Yahoo Finance so I wouldn't think Yahoo Finance would write a negative article on them. Scott Kramer's forum at Optionetics.com is getting some action, mostly negative.
Actually the way it works is that all optionetics articles are automatically posted on Yahoo so there is no Yahoo filter or editorial decisions. For this guy to brag about 10% a month returns AND say that $2,500 was turned into $100,000 in 18 months, he is slightly retarded.
LOL, actually the people from Tradewins and Profit something or other called today to sell me a Don Fishback service. He made 150% in the last 3 months. So the telemarketer took a step further and asked wouldn't I like to be making 150% every quarter? I offered to sell him my signals instead, he wasn't interested, I said same here, have a good day. Between this and his endless winning trades he has to have more cash than Gates and Buffet combined.