written by reader Palm Beach Current Income

By glseneca, March 30, 2013

Has anyone used this service that can provide guidance of if one should subscribe?

Your Palm Beach Current Income program includes: •Palm Beach Current Income’s 6-part webinar course on our “create your own money” strategy:
Using your home computer, you can watch our 6-part training course online, when it’s convenient for you. We’ll show you real simulations of the Palm Beach Current Income strategy in action, step by step. By the time you’re finished, you’ll be confident in knowing exactly how to use it successfully.

•Palm Beach Current Income research advisory:
Every Tuesday, we’ll send you details on a new opportunity to potentially generate hundreds or even thousands in extra income. We’ll give you all the information you need to know, including the transaction code… and we’ll explain exactly how to take advantage of each new recommendation, in plain English

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

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Brent
Member
March 30, 2013 1:25 pm

Thank you for posting that question as the Palm Beach Current Income strategy looks almost “too good to be true.” I did try to scrape as much information as possible from the teaser videos as well as customer testimonials. It looks like it’s a “put selling” options strategy. It looks like it focuses on large-cap, stable companies because the risk of put selling is that you may end up owning the stock in some cases (which isn’t all bad because you acquire them at a discount).
But $3000 for an options course and weekly newsletter seems a little pricey to me. Throw on the fact that you need to have a margin account with your broker to do put selling which means you need to have some good financial reserves (one of the videos said you should have $20k to work with). Even if phrases like “options”, “margin”, and “put selling” sound completely foreign, you can learn those concepts for way less than $3k IMHO (actually, I think it’s currently $2k right now with a 90-day money back).
Of course, this is all sleuthing on my part. Has anyone actually purchases the service and have something to say?

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Gary
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Gary
April 12, 2013 4:04 am

This newsletter got my attention. I was hoping to find out if anyone actually purchased it as well. SOunds to good to be true

Gary
Member
Gary
April 12, 2013 4:06 am

anybody have any thoughts

Bob Flynn
Member
December 11, 2016 10:56 am
Reply to  Gary

Thanks Brent!
I appreciate this very much. I’m a long time stock investor and have recently began studying options trading.I’ll keep my 2 Grand and “hit the books.”

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Brent
Member
May 15, 2013 12:02 am

I bit the bullet and purchased the 30-day trial for $99 (non-refundable). That is much more doable than forking out almost $2000 (refundable) for 90-days. Amazing how the psychology works. I’ll hand over $99 dollars non-refundable no problem for a trial but wouldn’t fork out $2000 fully refundable for the same offer. But I digress.
Here is my take on this. It is a cash-backed, put selling strategy combined with covered call writing. The six-part webinar series is really basic if you already know how options work. The course does plenty of cheerleading, followed by options basics, and a few sample trades. There really isn’t much to the course and I probably could have aced the 10-question exit exam without the course. Fortunately, you can read the transcripts pretty quickly and not sit through hours of videos if you’re comfortable with options.
What I did like was that it explained the strategy is very plain English. I always knew about selling puts and writing covered calls, but after taking this course I really feel like I “get it” and it isn’t something just for experts traders and it isn’t as risky as I thought. I now have the confidence to actually put this strategy into action.
I’ve only received one newsletter so far. Here’s my take. Why fork out $2000/year for a weekly subscription when you can see the types of stocks this strategy recommends during the trial period? I don’t need to spend thousands of dollars to know that Microsoft is a large and stable company and is a good candidate for put selling. $2000 is a pretty deep hole to start and you have to put down some pretty big trades throughout the year just to break even.
My final thoughts. It’s a good course if you need a pep talk on selling put options. It might be worth the money to actually pay for a subscription (and not just cancel after the trial period) if you really need specific entry and exit points on trades. Otherwise, save your money and learn the strategy for free on any options education website.

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