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Bernie employs many "analysts" who do the day-to-day grunt work. But as head of the
organization, he has to be ultimately responsible for what goes on below him.
The Option Advisor newsletter (recently offered at $99 for 2 years) is only one small
part of the organization which is called Investment Research Institute. There are
literally hundreds of option services offered typically ranging in price between about
1-3k. Most are touted as having some sort of limit of 100, 200 or 250 maximum
subscribers. The services have catchy names like All-American, OEX Express, Swift Trade,
All-Star, etc. and you generally get 2 option recommendations via fax per month for one
year and most of the services tout each recommendation as shooting for a 300% gain in 1-4
weeks. Unless you tell them to back off, you will get faxes and calls all the time
advertising a new service that they want you to buy into.
Having gotten sucked into giving them 3k last year and having switched among the 4
services mentioned above, I can tell you that I have not encountered even one
recommendation that made it to 300%. Most were closed out at a loss. When he did get a
winner, he would typically close it out at 40-80%. And when he does get a winner, it
always seems to be closed out too early (Hey, we got one that went positive. Quick,
close it before it goes negative <g>). Now a consistent 40-80% might be considered
acceptable - but remember you have paid $1-3k for the service up front . However, the
big problem is that there are too many losers and your losses do not get offset by the
winners.
I was pretty pissed off last year and tried to get in contact with Bernie to express my
dissatisfaction. I moved up the management chain a bit but could not get in contact with
him or anyone else with an executive title. I was flat out told that I would NEVER be
able to get in contact with Bernie. He does not speak with subscribers. So I gave up on
that approach.
JW
abprosys@xxxxxxx
----------
> From: Proeber, Tim <TProeber@xxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: RE: THE OPTION ADVISOR
> Date: Monday, January 19, 1998 6:41 AM
>
> Bernie's book seems good, I've read most of it. I've heard that Bernie
> does very few of the recommendations himself -- maybe that's the
> problem.
>
> Tim
>
>
> > -----Original Message-----
> > From: Tom Bucklin [SMTP:b1bbuckster@xxxxxxxxxxxxx]
> > Sent: Sunday, January 18, 1998 11:06 PM
> > To: RealTraders Discussion Group
> > Subject: Re: THE OPTION ADVISOR
> >
> > I too get these "book" ads at least once a month. After reading these
> > posts, don't think I'll waste my time, and money, on such a poor
> > perfomer!!
> >
> > TB
> >
> > -----Original Message-----
> > From: Stan Rubenstein <stansan@xxxxxxx>
> > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > Date: Sunday, January 18, 1998 10:54 PM
> > Subject: Re: THE OPTION ADVISOR
> >
> >
> > >To: R. Ross and all RTers
> > >By coincidence THE OPTION ADVISOR was reported, by today's Gannett
> > >Newspapers Sunday edition (Reporter Dispatch in Westchester county
> > north of
> > >New York city) to fall into the bottom ranks of Newsletters as rated
> > by the
> > >
> > >Hulbert Financial Digest. According to the columnist, Susan Antilla,
> > the
> > >five worst list shows B. Schaeffer, editor of THE OPTION ADVISOR, to
> > have
> > >achieved a negative 8.9% annualized return for the five year period
> > and
> > >a negative 8.2 % over the 10 year period ending November 30.
> > >
> > >B.Schaeffer, editor of THE OPTION ADVISOR, is reported to have
> > objected
> > >to his poor rankings by HFD on the grounds that HFD subtracts a
> > commission
> > >charge of 3% which if it were less his performance would be better.
> > >
> > >FYI,
> > >Stan Rubenstein
> > >----------
> > >> From: Steve Schnake <schnake1@xxxxxxxxxxxx>
> > >> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > >> Subject: Re: THE OPTION ADVISOR
> > >> Date: Sunday, January 18, 1998 9:27 AM
> > >>
> > >> I agree. I gave them a good, long(9 mos, -$15,000) chance.
> > >>
> > >> Steve
> > >>
> > >> ----------
> > >> > From: JW <abprosys@xxxxxxx>
> > >> > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > >> > Subject: Re: THE OPTION ADVISOR
> > >> > Date: Saturday, January 17, 1998 6:16 PM
> > >> >
> > >> > Nope. Stay away.
> > >> >
> > >> > JW
> > >> > abprosys@xxxxxxx
> > >> >
> > >> > ----------
> > >> > > From: RRoss69319 <RRoss69319@xxxxxxx>
> > >> > > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > >> > > Subject: THE OPTION ADVISOR
> > >> > > Date: Saturday, January 17, 1998 5:27 AM
> > >> > >
> > >> > > I KEEP GETTING SOLICITATIONS FROM THIS ADVISOR. IS BERNARD
> > SCHAEFFER
> > >> AND THE
> > >> > > OPTION ADVISOR AS GOOD AS THEY CLAIM?
> >
> >
> >
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