written by reader Is Porter Stansberry a fraud?

By captshnuff, January 21, 2014

I believe, and have long believed, that Porter Stansberry is a blatant, scare-mongering fraud. I’m surprised, Travis, that you even include his oft-wacky meanderings. Google ”porter stansberry fraud” and it might make one wonder…

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Travis Johnson, Stock Gumshoe
January 21, 2014 2:36 pm

We delight in covering the wacky. The more often wacky and the more ridiculous the promise or the “secret”, the better.

Porter’s organization is bigger than most and they have pushed the envelope on hype-y “secret” teaser pitches more than most (Porter says his firm invented the “video presentation” ad that so plagues us today, among other things), and the SEC did get a fraud conviction against Porter and his firm based on a 2003 teaser pitch in which he apparently claimed insider info and sold a report based on that insider info (the source, I think it was at USEC, said it had given him no such info, which seems to have been a key). In terms of his current advertising, I wouldn’t say that it appears to me to be particularly bad or different in the universe of newsletter pitches — I think all the newsletter publishers of any size are now far more careful about the promises they make, with more qualifiers and “maybes” and “should” and “might not work for you” language, they tend to follow the same script and, probably, get advice from the same lawyers.

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