Nick Guarino’s Wall Street Insider (Formerly Wall Street Underground)
I used to subscribe to Nick’s “Underground” newsletter/email service about ten years ago, when he was ranting doom and gloom and telling everyone to buy property in Bora-Bora and convert everything to cash, gold and silver. (At the time I think I paid about $300/yr). Fortunately, I did not follow his advice. After just one year I was so disappointed I stopped paying. Now I am again receiving weekly email “flyers” from Guarino, and again it is doom and gloom with a teaser about making “millions” on special long term treasury note options. He promises specific trade directives in and out, and all for only $5,000 per year. Nick has been saying for several months that “the gold bubble will pop”. I have heard several advisors say the same thing. Yet it went up another $50 on 3/19/09! And seems to be headed for 1000 as the dollar dives. Sooner or later, every advisor and financial expert will be vindicated, because sooner or later everything (stocks, commodities, and property) cycle up and down. So what! What I want is timing and specifics based on detailed research – not generalities. Sooner or later, Nick will be right, want to guess as to when that will be?
Even a stopped clock is right twice a day. And that’s what ole’ Nick reminds me of. I have not subscribed to this new service, but I was a subscriber to the Wall Street Underground. Based on the marketing I’ve been getting recently for this new service, it seems like more of the same.
Nick is a lunatic who’s always saying the sky is falling. And yet, he never has any good suggestions about what to do except convert all your money to gold and move somewhere “they” can’t find you.
I think I’ll pass.
I LOVE NICK’S WORK AND I THINK HE IS RIGHT ON THE MONEY, I HOPE HE COMES BACK TO WRITING AND THE RADIO LIKE BEFORE, THE PRESS, WALL STREET, AND THE GOVERNMENT DON’T HAVE A CLUE!
I was a subscriber of the Wall Street Underground when it was $5000 per year. In general some of Nicks’ predictions were correct, but not very timely. He never told you to get out of a bad trade, I guess his ego would not let him admit he was wrong. The oil trade was a good example, luckily I was not in it, but knew several people that lost a lot of money. I stopped taking the news letter when he was so horribly wrong about oil. How could he be so wrong??? After I saw that he was not timely on his trading advice I always used stops to make sure I was protected. The only thing that worked for me was real estate. I sold my house at the top of the market, rented for two years while the market crashed then bought a house for half price, about what it should really be worth. Any one that takes Nicks’ letter should realize that he is wrong half of the time and you better use stops that protect you. The amount that you can afford to lose is all that you should risk no matter what he recommends. Nick doesn’t give a crap about you as long as he gets his $5000. Russ Reno Nevada