Stay Away from Mike Larson - Interest Rate Speculator

MSGTrader

Newbie
3 0
Stay away from come-ons for Mike Larson's Interest Rate Speculator from Weiss Research. The ad will say something like this:

Soaring interest rates — some up as much as 150% since May — are triggering positively huge gains in these little-known investments ...
On June 3, you could have snagged a 394.1% gain in just 18 days ...
On July 12, you could have realized a 610% gain in just 39 days ...
And on July 19, you could have seen an amazing 1,075% gain on a very aggressive trade in just 46 days ...

Currently, his open trades are almost all down 70-90%. He bought Dec 130 puts at $1156 each, on Oct. 1. The trade was NEVER in profit, it immediately dropped 50%, rallied back up to around $900, and with the bond rally, is now trading at $63, a 95% loss. Puts in the Treasury Notes are also down at least 90%. A couple of ETFs are slightly profitable, or near breakeven, but everything else is down 45-95% across the board. Every trade entry is horrendous, getting sucked immediately into big drawdowns, which of course have little chance of ever recovering. It's $3000 a year for it, which is even more ridiculous, as obviously the guy can't read a chart worth a damn, or manage trades at all.

You can cancel and get your money back, which I did, and I didn't lose too much on the trades, except for the Treasury Note and Bond puts, which I've averaged down on, and am down quite a bit. A slight pullback in the bonds, and I hope to get out near break even, but a trading service this expensive shouldn't subject you to this type of drawdown.

Totally worthless (worse than worthless, harmful), avoid like the plague. A couple of Weiss' other services are a bit better (Gold and Energy Options Trader is OK, and Global Resource Hunter has had good recommendations on selling puts for premium with a good win percentage).

Still, as with almost all services I've seen, especially that do any trading in options, they never practice risk control, and will let losing trades go all the way to $0. You may get some 30-50% returns on the winners, but if you consistently let these trades go all the way to 100%, they will offset the gains you might get, is what I've seen over and over.
 

Martinghoul

Senior member
2,690 276
Stay away from come-ons for Mike Larson's Interest Rate Speculator from Weiss Research. The ad will say something like this:

Soaring interest rates — some up as much as 150% since May — are triggering positively huge gains in these little-known investments ...
On June 3, you could have snagged a 394.1% gain in just 18 days ...
On July 12, you could have realized a 610% gain in just 39 days ...
And on July 19, you could have seen an amazing 1,075% gain on a very aggressive trade in just 46 days ...
...
Hahaha, this is priceless!!!!
 
 
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