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sptradr@xxxxxxxxx wrote:
>
> BASIC Regulatory Actions
> BERNSTEIN, JACOB
> NFA ID 0054855
>
......
> Contributor Case No. Action Type Effective Date Outcome
> NFA 96BCC00015
> - SALES PRACTICE
> 3/8/99 - PERMANENT BAR FROM NFA MEMBERSHIP
> - FINE $200000
> - ON APPEAL
> ©National Futures Association 1998-1999
Why can't they do this to Ken Roberts?? Is it really because he is
registered but not a member? (Someone said this elsewhere.)
Check out his new website at kenroberts.net . This reads a lot like I
recall his pamphlet that he sends out to people who know nothing about
commodities. There is *no* risk statement in his ad. In the course (at
least as it was in 1995), he glosses over the risk and basically says
this is an easy way to make your fortune from $1000-5000. I see
probably 10-20 stories per month on the web of people who tried a 1 or
2K acct. with Mr. Roberts' methods, who assurred in the course them they
were being taught something that would keep them out of the "95%". And
most of the messages read like this isn't throwaway money either.
Roberts goes so far in one promotional video to say to course
interviewees, "Do you think this would be good for a struggling
family"...answer, "yes.
Seems to me that the regulators should be spending less time about
whether computer programs are really CTA's and more time making Roberts
et. al. modify his pitch to be a bit more balanced. Rather than
regulating the content of the course why not write a booklet describing
the risk and odds, and require that to be included with each ad and/or
course.
Don't mean to start another "nuns of the nfa" thread but Roberts is
still one of my hot buttons.
Conrad Bowers
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