Russ Whitney's Teach Me To Trade??

Quote from james smallwood:

I trade myself following the strategies Ive been taught and this has been pleasantly succesful.
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Then why sell it? Having others looking for the same stocks can only hurt you in the long run. This is the ultimate chink in the "I trade it myself but sell it because I want to give back" argument. The fact remains that 99.99999% of all vendors make money from selling the system and not from trading it. Perhaps you are the exception, if so, I question the illadvised decision to sell it.

In terms of me 'changing departments' etc....this IS my department and always has been.
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Please re-read my post, I was referring to Russ Whitney.

The description of Whitney as a 'snake oil company' is actually deeply insulting and wildy inacurate.I am happy to respond to any questions posted....but trading insults is really for the school playground! I wonder if you have actually attended any of these courses yourself , or maybe you have that rare gift of knowing all about something without having any experience of it?
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Ahhh, the quintessential comeback of all vendors is always "you are a bully and attacking what you don't know". Anyone who has been trading even a small amount of time knows that there are no profitable methods for sale that give the results a program like this claims. Its been explained on these boards 100 times, so I will not explain it all again, but basically the market is efficient enough that any easily exploitable edge will quickly disappear. There is no free lunch and you will not find systems that will turn 10k into 30k in 2 months on a consistent basis (without taking enormous risk that will quickly wipe out temporary outperformance). It certainly does not require that I spend thousands of dollars on yet another method to realize this. Everything important to learning about the market can be had by reading books from the local library. All of the important lessons not available in books will only come with actual live trading. There is nothing new under the sun.

Now my opinion of Mr. Whitney and his company is simply drawn from what I read on the website posted and my general knowledge of infomercial hucksters. No rocket surgery needed to figure this one out...

Good trading to you.
 
If I read this 10Q correctly, it appears that the "Teach me to Trade" people (aka Whitney Information Network) had...

$38.5 million dollars in sales, for the most-recent 3 months...!!

http://www.sec.gov/Archives/edgar/data/1095276/000110465904014834/a04-6193_110q.htm

"Total revenue for the three months ended March 31, 2004 was $ 38,508,675, an increase of $25,204,836, or 189% compared to the same period in 2003."

But they state net income was only $207.612. So 38 million gross but only 200k net? Wonder why.

Wow. I must be in the wrong business. 38 Million in sales for 3 months?! That's 12+ million bucks a month in sales.

Am I reading this correctly?


Makes me wonder how much the other big places that do seminars are making..


just curious,

Ken

P.S. Maybe I should be offering more seminars! wee.
 
Quote from Ken_DTU:

But they state net income was only $207.612. So 38 million gross but only 200k net? Wonder why.
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probably trading losses took care of the other 37.8 mil.. hehe, couldnt resist..

-qwik
 
Quote from Ken_DTU:

If I read this 10Q correctly, it appears that the "Teach me to Trade" people (aka Whitney Information Network) had...

$38.5 million dollars in sales, for the most-recent 3 months...!!

http://www.sec.gov/Archives/edgar/data/1095276/000110465904014834/a04-6193_110q.htm

"Total revenue for the three months ended March 31, 2004 was $ 38,508,675, an increase of $25,204,836, or 189% compared to the same period in 2003."

But they state net income was only $207.612. So 38 million gross but only 200k net? Wonder why.

Wow. I must be in the wrong business. 38 Million in sales for 3 months?! That's 12+ million bucks a month in sales.

Am I reading this correctly?


Makes me wonder how much the other big places that do seminars are making..


just curious,

Ken

P.S. Maybe I should be offering more seminars! wee.
More...


$38 million in 3 months! HOLY SH!T!

That's what it says. It looks like there was $12 million in advertising expenses, $10 million in administrative expenses, and $15 million in Direct course expenses. Poor Russ, they only pulled down $200K in profit.

Who's the dummy? We're fighting over $25 emini tics and this guy's is hanging out in the Bahamas.

Dammit!

I am proclaiming myself a master trader. I will be offering my money stealing seminars and software in your neighborhood very soon.
 
$38 million and he writes the whole gross off, LMAO! What's the $15 million in Direct course expenses, is that what he calls the wire transfer to his Cayman account?

Incredible how many gullible people are out there... I'm waiting for the day I see a late night infomercial on "How to make millions as a late night informercial guru!" I might actually buy that one :)

Quote from buylo:

$38 million in 3 months! HOLY SH!T!

That's what it says. It looks like there was $12 million in advertising expenses, $10 million in administrative expenses, and $15 million in Direct course expenses. Poor Russ, they only pulled down $200K in profit.

Who's the dummy? We're fighting over $25 emini tics and this guy's is hanging out in the Bahamas.

Dammit!

I am proclaiming myself a master trader. I will be offering my money stealing seminars and software in your neighborhood very soon.
More...
 
Quote from trdrmac:

Not to be a dream stealer or anything.


http://www.johntreed.com/ReedonWhitney.html
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Yup, Russ Whitney is a BIGTIME loser... stay away from this snake oiler... there are better trading services out there, for example realitytrader.com and tradingfrommainstreet.com... I recommend both to newbies who don't have access to a mentor...

BUT STAY AWAY FROM THE RUSS WHITNEY CRAP...
 
A lot of brokers and software platform providers have training, classes and info. Some free some not. These providers need to maintain some sort of decent reputation. So there info can't be to bad.
 
Quote from Ken_DTU:

If I read this 10Q correctly, it appears that the "Teach me to Trade" people (aka Whitney Information Network) had...

$38.5 million dollars in sales, for the most-recent 3 months...!!

http://www.sec.gov/Archives/edgar/data/1095276/000110465904014834/a04-6193_110q.htm

"Total revenue for the three months ended March 31, 2004 was $ 38,508,675, an increase of $25,204,836, or 189% compared to the same period in 2003."

But they state net income was only $207.612. So 38 million gross but only 200k net? Wonder why.

Wow. I must be in the wrong business. 38 Million in sales for 3 months?! That's 12+ million bucks a month in sales.

Am I reading this correctly?

Makes me wonder how much the other big places that do seminars are making..
More...

Although the cost of running infomercials is huge, you're right,
someone is pocketing BIG bucks!
 
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