Is anyone familiar with this new pitch from Jim Rickards? He says it is a new way to make money that does not involve forex or stock trading!
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My question as well. Is there any reason to believe that this is anything other than buying options on currencies, and getting it right one in three or one in four times? When you do get it right, payouts can be big, but overall you have to kiss a lot of capital goodbye to get to the winners – so if you don’t take every trade, there’s a chance that you only pull the trigger on the dogs, and you can do nothing but lose, lose, and lose some more. Jeff Clark [a Stansberry author of The Short Report] was apparently hot until I became a subscriber, which seemed to catalyze his worst year ever!
Agreed…was wondering if the illustrious Gumshoe had had a chance to delve into this mystery since his return from Omaha, NE?
Haven’t looked at that one in any detail, but from my recollection he had a laundry list of a dozen or so things to do to prepare for currency armageddon — so he’s bound to be right about a few of them, even if the currency doesn’t really collapse.
Travis, hope you will be looking into this or some reader can confirm that it is options trading.
I looked into it and it is basically buying long-term puts or calls on ETFs or stocks that will be affected by currency appreciation/devaluation and then getting out of them after a month or two if all goes well (you’re usually assured of at least a 200% gain in two months). These ETFs can be direct currency plays like USD/YEN, or something like an ETF that is leveraged in Lira and turkish banks that have high dollar reserves. They give you the type of option, the strike price and what to pay for it, just got it so will let ppl know if it’s worth it in a bit. I’ve always been interested in currency plays and now seems like a good time to do it but I don’t want to get leveraged in forex. Much easier to buy a simple call or put, and if it starts to go bad get out pronto. Yet having knowledge of what’s going on, and central banks all weakening their currencies, oil going up or down, and the dollar ready to be trounced by the Yuan, seemed like an easy way to make money at a time when the market could do who knows at any time. Hope that helps.
Hope you do well. I have been contemplating subscribing but it costs a whopping 1500! That’s a high price for a skeptic.
Evaluating whether to subscribe to Rickards’ IMPACT or SMPI from Simon Black/Sovereign Man/Seraph. Very different strategies, it seems. Might just do both. Jake, really curious to hear your take on the IMPACT service.
Hi Jake, I’m completely new to the stock market and don’t want to loose my shirt over it. So any advise you can give me is much appreciated. If you have had the opportunity to use this Impact Software System would you recommend it to someone that’s a complete new starter in the stock market period. I’m just worried that the price of $1’750 is pretty risky for not being able to utilize it properly. Also how is your experience so far using this system and have you been able to profit from it as they claim you can? How user friendly is it and would you recommend it?
Your advice is very much appreciated, thank you,
Jean–Paul
Hi, I saw your post on http://www.stockgumshoe.com about Jim Rickards impact system. I was just curious how it has worked out for you? Any insights would be appreciated.
Thanks