Quote from tjrz:
from a post a while back:
huby
Member
Registered: May 2001
Posts: 94
06-12-02 10:32 PM
RE: to Intrinsic about "Learn to Spread Trade"
Boy have I got a funny story for you! I used to work for "Learn to Spread Trade! They are based out of Provo, Utah and the entire organization is a scam.
I actually worked in a phone selling "boiler room" and Learn to Spread Trade was one of our accounts. Some of our other accounts were Carleton Sheets and all those start your own internet business hoaxes. They're all the same scam with a different name.
I took the job because it was at night and I could supplement my income from trading. I mainly took it because it was selling trading products and I thought, hey this is perfect! I quit after a month. Tell you why in a second. I sold used cars for 6 years and thought I had lost pretty much all of my conscience from that! I guess I had a little left afterall. This place was so kinky I had to quit. Couldn't sleep at night. Lol.
To make a long story short, you purchase the tapes off of the infomercial and then we call you telling you that we are from Learn to Spread Trade, and basically tell you it's impossible to make any money in the market without the help of an expert. We scare you so bad that you either send the tapes back or sign up for our $3,500 course with our "market guru".
That right there was the entire reason the company was started. They could care less about how many tapes they sell. They're barely breaking even on those. They make all of their money off of the coaching. I met the two owners of the company. They came to us for a pep talk one day. BTW, one of the owners poses as one of the traders in the infomertial! Lol.
Here is a direct quote from the owner. I recorded it. Glad I did.
"You guys, let me tell you the best thing about this program. I don't know a thing about trading! And it doesn't even matter. Here is why we started this company. We are salesmen just like you. We've been in this business for over 25 years between the two of us (high pressure phone sales) and what is the one thing you hate most about your customers?......It's that they don't have any money. So we've come up with a product that guarantees you customers with money. Zero down real estate. Give me a break. We're just asking for roaches. With this product people know ahead of time that they are going to need money to trade. It's the perfect product. You're dealing with smarter clients, and clients that have money and arent' afraid to spend it. Now I know a lot of you have been concerned about all the questions people have been asking about spread trading and you don't know how to answer them. Don't worry about it. All you need to do is learn a few terms so you don't sound like an idiot and get them off the subject. Hell, I just learned the difference between a call and a put! (everyone laughs). Besides it doesn't matter. If you're talking about trading you're not doing your job. We are selling emotions here people. We're selling a change in peoples lives. Spread trading is just the vehicle that's all..........(on and on he went with the pep talk).
Now for the really funny part. The so called expert is 25 years old and drives a 1988 Pontiac! He used to be one of the real estate experts but since we took on this new account we needed someone who knew something about trading. His background? He has read all of Wade Cooks books and has an Ameritrade account. LOL. What a joke.
The only people making any money were the owners and all of us selling it. All the guys I worked with were in their young twenty's making around $150k a year.
The thing that pushed my guilt over the edge was when I sold an old lady who had lost all her money in the bear market, her husband just died and she needed some extra income just to survive. She was terrified to do anything else that had to do with the stock market. After talking to her for over two hours and resolving all of her concerns, she said "well you know I don't feel good about this but if you really think this is the best thing for me then I'll put my trust in you and give it a shot". I said "I wouldn't be talking to you if I didn't think so". I quit the next day.
You know it really saddens me that so many people fall prey to scams. But like they say "There is an ass for every seat". Be careful what you believe everyone.
. I figure that's to be expected. I pretty much watch the charts and act around the moving averages (25, 50, 200). It still means trying to guess the direction of certain stocks.
