Wade
Cook has been selling money making opportunities for a long time
primarily by advertising on the radio. He then gets you to attend
a free seminar...
yeah,
I've been to one !
Then
you get the pitch to attend a major seminar where you learn all
the Wade Cook
' insider Secrets'. I recall that back end seminar program that
Wade Cook was selling costs somewhere around $2,000 to $5,000
depending on which program you bought. I must admit... there
were a lot of sales that night...
The
major thrust of the Wade Cook program that I went to was that...
if the market is volatile, there will be a big move in the stock.
Therefore, if there is a big move in the stock it will either
go up or down. So the solution is to purchase an option on
both
'up' and an option on 'down' .
In
stock terms this is a 'put' and a 'call'. This seems all well
and good... But, stock options are not cheap and 95% of the options
purchased are not exercised... which means that they expire valueless...
So, the trick is to buy options that are underpriced... otherwise
you will be paying more for the option than the move of the stock
justifies.
That
takes a tremendous amount of work to sort through all the companies
and their option prices to see if there are any bargains out
there, since you only hit one occasionally. I am sure that if
I can set up a software program to effectively accomplish this,
it will sell like hotcakes. Wade Cook might do well to look into
including something like that in his program...
I
believe Wade Cook's company is a public company and they reported
fantastic income on their program sales... yet they lost a reported
$800,000 on trading stocks and options.
Whoops!...
This is coming from Wade Cook, the guy who tells us he is the
King of the stock market ???
Wade
Cook makes it sound so easy. Doubling your money in a few months
is too outrageous a claim for me to swallow. One well known guru
says that if Cook could really double his money every three months,
he would have 108 billion dollars in exactly five years if he
started with $100,000...
If
Wade Cook made that kind of money... what's he doing selling
expensive seminars ?
What
keeps Wade going is that people *love* to trade stocks.
They
will pay more for an investment program about the stock market
than almost any other money making advice.
Wade
Cook takes advantage of this fact and provides the people what
they want...
Who
can blame Wade Cook.....