Lazybones....Bali Survivor...
Excellent Posts.....
What you may find interesting is the typical technique that the
snake oilers use...
Firstly they have the intent of a media company...they sell adds...periodicals..tapes..cds..seminars....
They appeal to those who want or need money and sell the headlines..just like a magazine does...
There will be promissory statements followed by "hypothetical" performance that will never be and never has been obtained as
evidenced by blotters and statements....
And guess what...your friendly ex-sec employee attorneys create the disclaimers and supposedly make misleading people by the masses an ok thing to do...as they get paid to protect snake oilers...
And guess who is now one of the main companies responsible for
snake oil promotions as we speak...
CBS MARKETWATCH....run by Jim Cramer....
Cramer knows what the words "media sales" really means...
as he is the CEO of Marketwatch which is publicly traded...He wants to sell to the masses at $29.95 a shot or whatever the small rate is....
You know all the surrounding gimmicks....including the false guarantees...of your small amount of money back....knowing the problems you encounter or the inconveniences....
What Cramer does is very lethal...because at one time in the past he had a lucky streak...but what he did no longer works...and he knows this...now he's out collecting the mass media money ...fooling the fools....just go to his site
www.cbsmarketwatch and review the promotions along with their promissory statements...along with their hypothetical endings...Cramer thinks he's smart ...and the public is stupid...
Pristine was a super hyper of this hypothetical-disclaimer technique...A very similar organization is Marketwise whose CEO is not licensed as a registered advisor nor as a broker...and now is sharing in the CBS Marketwatch email database to sell the $5000 seminars...very much like Pristine...although Pristine was even more aggressive in actually telling ridiculous lies such as running the $100,000 hedge fund while being an usher and gas station manager...being evicted over 70 times in 3 years...etc...Velez is obviously a pathological liar... but thinks the public is stupid....At least Cramer really ran a hedge fund....
Nassar said he made $1,700,000 in 2000...and now only makes $500,000 per year....but never produces blotters and statements...nassar's brokerage firm was sold to Terra Nova....The set up is very much like the Pristine Mastertrader setup...They both are designed to take a significant portion of the first $25,000 stake up front....It would be very interesting to see Nassar's blotters and statements that back up his performance claims...
It's the media that acts as a catalyst for the super hyper snake oilers who take a lot more than the $29.95....
If one wants to know the difficulty of creating returns...they might want to glance at the track records of
www.iasg.com which is a list of large and small hedge fund performances....
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