what do you think of peter spanns new course

what do you think of peter spanns latest flyer i received today

about a one evening master traning course without owning shares outright gaining 3% per month with just a few hours attention twice a month.

Francine
 
what do you think of peter spanns latest flyer i received today

about a one evening master traning course without owning shares outright gaining 3% per month with just a few hours attention twice a month.

Francine
Sounds like a good one,Frannie if you have a link to the site please post it,so all it takes is a few hours a month,and you pick up 3%,that's after the master training course,the only problem is if you study the market each day,you expect to learn something in proportion to your studies
once you let someone else hold your hand things sometimes things work different..willair..
 
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I'd say it's selling naked puts, most brokers wont let you sell naked calls I found.
Both work great as long as the market keeps going up.
 
Hmmm, I tried to upload the e-book to save anyone having to enter their details on the website but I can't seem to do so due to size restrictions.

If anyone can tell me how to upload a ~1Mb PDF file I'll share. Or PM me your email addx...
 
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mine came in the mail addressed to me just a huge card no envelope saying

would an extra 200 500 or even 1000 a month make a difference to your life

heres your change to learn the simple strategy that can put extra money in your account every mont
at peter spanns cash cow seminars


visit www.magicmoocow.au/postcard to check local dates and find out more.

oh so its about buying magic cows.



on the back it says
in one evening master trader peter spann will teach you the strategy that

generates extra cashflow each mont
requres a few hours attention twice a month
typically returns on average up to 3% per month in australia

outperforms a pure buy and hold share strategy.
can reduce the risk of owning shares outright
can be started almsot immediately

you dont need to be an expert invester.

tickets just $47 bookings essential call 1800878878

then there is alot of little writing

and yet the free ebook on the websight and

you can bring a friend for just $1 when you book online.
 
can reduce the risk of owning shares outright

There is a BIG difference between this statement and not owning shares outright.

In the past, the stratgey being discussed would be a (protected) covered call

http://www.asx.com.au/products/pdf/buy_write.pdf

with the addition of a put option to hedge against large drops.


I believe crc_error here does this in practice (without option as explained in the following thread).

http://www.somersoft.com/forums/showthread.php?t=39619&page=5


Cheers,

The Y-man
 
havent been as active on this forum as recently, i have been quiet busy.
Anyway thanks y-man for the link.
For whats its worth, here are my thoughts:
1) its not as easy as it sounds, definately not the 3% a month, remembering you have your capital at stake.
2) ol School Skata, says he (or she?) has been doing this for 7 years. Before joining any site and paying the $1000 odd dollars have some private chats (my suggestion anyway).
3) search through this forum on Peter Spann, there was some commentary i made previously, i wont be going into further detail. Albiet to say that i got some quite abrubt private messages from the man himself, basically saying 'what was my beef with him'.

At the end of the day people have to make their own minds up. There are suckers born every day, and as time goes by, new suckers come up all the time.
One of the reasons i didnt press things further is because some members of this board seemed happy at the status quo (again i dont want to go into futher detail, if you are interested research this board for prior comments and figure it out yourself, i have no interest in being sued for giving gratuitious opinions). (not this comment does not relate to the moderators or owners of this board, only some comments by long term members).

At the end of the day i dont like deception, and whats that saying, all statistics can be deceptive in the hands of the right player.
 
Why doesn't he do it himself?

Why does he spend time sprucing up the seminar instead?

:confused:
The same reason he doesn't do property anymore, it is far easier and truckloads more profitable to make money from the (naive) hopefuls than the property or share markets.
 
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All he is selling is the buy write strategy. To get a idea on returns you could expect, you could look at a fund Spann was pushing a few years back 'let us do it for you'

http://www.macquarie.com.au/emg/mq/investor_centre/performance_information.htm

Macquarie Australian Equity Income Fund

At least this fund shows a slight profit, unlike the others he recommended, like the Macquarie multi strategy fund which I got burnt on. He said to 'mortgage the kiddies' to get into this one.. he did handstands and kart-wheels on stage saying this is the once in a decade opportunity.. the results speak for themselves.

His recommendations are no better than you choosing a quality australian/international share fund yourself. just save yourself on his excessive fees and you will be ahead. And avoid these complex option colourful strategies.

I used to do the buy write myself, but found all the brokerage killed any profits you make, and then you need the stock to fall suddenly, and any profits disappear. And if the stock runs up, you loose out on this sudden growth.. the strategy says to rebuy the stock if 'exercised' (forced to sell) and write new calls, only for you to find the stock can fall back down again, and your stuck with a losing position, and one which you cant write calls on cause the stock is to far out of the money.

3% per month is bull crap.
 
Just like he doesn't do property anymore, it is far easier and truckloads more profitable to make money from the (naive) hopefuls than the property or share markets.

well, I think he would have done quite well had he held his 100 properties in sydney.. certainly better than the other crap he has been floggin! (and apparently he also invested in)
 
It's a static or bull market strategy.
If the market falls, you lose money.
When people forgot that markets can fall a wee teeny bit more than 10-15%, they all piled in to these bull market dollar cost keep buying till the cows come home strategies.
We all know what happened when the big flood wave drowned all the cows....

To make it work you still have to time the market.
Can the market be timed?
Well all those performance records pretty much tell that very few can.
And those that can don't seem willing to spread that info around.
Just as those who thought you can keep buying as the market falls because it will eventually go back up.

Just like Bon's gambling, you have to find a way to put the odds in your favour and have realistic expectations.
You also need a big enough bankroll so your funds dont get eaten up in transaction costs.
 
My understanding is that it is a "buy write" strategy. You buy the shares, and write options.

Performance in a volatile market is "up to" 3% per month.

You need enough capital (directly or from equity) to buy 1,000 shares in the company. And it has to be a company which has options traded.

And you also need strategies for trading out if things go against you.

When I tried the strategy, some years ago, I did not have enough money to buy one of the recommended stocks. I bought into a tech company, which was one of the few which had a price tag I could buy and which had options traded.

It was just a few months before the tech wreck. Without the tradeout options, I lost about $10K (from memory).

And yes- with the minimum amount of capital, even enough to buy 1,000 shares of a blue chip stock, brokerage can bite badly.

But I have friends who have made some good income from a buy write strategy- people with a good amount to invest and the experience to trade according to any conditions.

I think Peter was saying that the best returns were in a slightly rising, but volatile, market. But returns could be made with other conditions- volatility, rather than a bull or bear market, made the difference.
 
Performance in a volatile market is "up to" 3% per month.
Volatility does not increase gains, one way market direction (up) does.
And you also need strategies for trading out if things go against you.
You can't "trade out" in a falling market. You can keep writing options but at a much reduced premium. And if it rebounds you realise the loss.
It was just a few months before the tech wreck. Without the tradeout options, I lost about $10K (from memory).
That's what happens in a falling market...
But I have friends who have made some good income from a buy write strategy- people with a good amount to invest and the experience to trade according to any conditions.
Buy->Write does not work in a falling market. You will lose money.
I think Peter was saying that the best returns were in a slightly rising, but volatile, market. But returns could be made with other conditions- volatility, rather than a bull or bear market, made the difference.
Returns, as in premiums recieved can always be made, but having capital loss of 20-30% will reduce premium to match the new price.
Once again, just like you lost your money, so did Peter and the other guy who threatens legal action if his name is mentioned, and everybody else buying in a bear market using bull market strategies.

Gee if I was looking for opportunites I'd just post on forums and offer one on one buy-write explanations for $100 a hit :cool: as there seems plenty demand, or at least need.

I got that ebook which pretty much explains it... though maybe it should be called:
"Prince Peter saves the world"
Once upon a time, in a far away land, lived a hansom and noble prince who rode an italian red stallion on his way to save the world from evil market trolls...:p
 
I got that ebook which pretty much explains it... though maybe it should be called:
"Prince Peter saves the world"
Once upon a time, in a far away land, lived a hansom and noble prince who rode an italian red stallion on his way to save the world from evil market trolls...:p

PB, do I detect a hint of sour grapes?
 
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