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Business
Opportunities - Ken Roberts
It can be said that Ken Roberts has come a
long way. According to my sources, Roberts was a college drop-out and a
former life insurance salesman. He runs a course which is called “The
World’s Most Powerful Money Manual”, which somehow manipulates
newcomers that they can turn into successful traders by starting with
less than a thousand dollars.
Roberts
originally developed this course back in 1983. This mail-order book
splices in advice on futures trading with philosophies on how you can
obtain – everything you want mentally – physically and spiritually. He
purports to have sold over 300,000 copies. Hmm, at $195 a piece, that
amounts to about $60 million. I must say that I am skeptical if he
actually has made the full sixty million that he claims he has.
Roberts
states that trading futures is “the world’s one perfect business.” He
apparently put a price tag of over $2000 for his advanced trading
seminar. He eyes trading charts like a hawk, has a newsletter, a course
on options and his novel entitled The Rich Man’s Secret.
On top of
that, he is also the owner of a California brokerage firm named Main
Street Trading. But I hear that that their commissions for trades were
kind of high.
The hype has
brought Roberts millions of dollars and a sweet mansion in Oregon, but
I kind of wonder where his customer’s mansions are.
Roberts
comments that many of the techniques and methodologies of actual
trading is “voodoo” stuff. Seriously, I would rather go hit up a
couples casinos than use his trading system.
Now looking
at all the Ken Roberts material on my book shelf, I’m smart enough to
know that the course I purchased from him can easily be learned from
most commodities books for much less.
Roberts is a
self proclaimed king of commodities trading.
One aspect
that I do like about Roberts is that he’s an awesome direct mail
marketer. I wouldn’t be surprised if he is one of the world’s best. If
Roberts decided to teach a course in direct mail marketing, then I’d
have to seriously recommend it. In fact, he sends out millions of
direct mail pieces for his course at his Oregon base.
Roberts
states that most traders lose 95% of the time. He asserts that, with
his materials, you will learn the real stuff that other guys don’t
know. His material is based a lot on predictions. In this kind of
approach, I’m sure that it will go wrong much of the time. And don’t
forget that being wrong will cost you A LOT of money!
Roberts
should warn you that after you factor in brokerage costs that the odds
are tipped asked you. Instead of just having to win, you will need to
make a significant profit above and beyond the brokerage fees. That
profit is actually very difficult to do.
Beginners
need to understand that there are huge risks when investing in futures.
I always
wonder if Roberts makes more cash from selling his course than he’s
actually made from his futures trades. Unfortunately, I doubt that I’ll
ever find out.
I recently
read a new posting that states that Ken Roberts has had some problems
with the NFA and CFTC.
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