Ultimate Wealth Report – Andrew Carpenter takes reins from Sean HymanThe Ultimate Wealth Report (”UWR”-is a Newsmax Publication) was written by Sean Hyman (See prior posts on poor performance). The publication has announced, because of poor performance, that Andrew C. Carpenter will be the new editor. He has advised clients to ”SELL EVERYTHING” in the current portfolio (”NUKE IT”) since UWR will no longer offer any advice on those investments. He claims that:
“Ultimate Wealth is going to focus on what are my research strengths … special opportunities, emerging opportunities, and seasonal opportunities.
Those of you who remember me from the fabulous China Club newsletter, or my high-flying Asia Business & Investing, will also remember that I have been blessed
with a knack for identifying trends and special opportunities before they explode.
I love swooping and making a tactical strike …
Like back in February 2009 when I recommended Starbucks (SBUX) after CEO Howard Schultz reclaimed its reins …
Starbucks is up more than 1,300 percent since then … a thousand shares worth $4,010 back then, eight years ago, would be worth $55,340 today.
Again, those of you who know me from the old days know we had so many triple-digit gains that the 50 percenters and 80 percenters were getting kind of ho-hum.”
Does anyone know about his actual performance history?
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To all that are satisfied with Sean’s advice I would recommend contacting him tru his facebook page and letting him know your fellings I’m pretty sure we’ll here from him as soon as he is set with a new investing service.
For those who cannot find anything on Andrew Carpenter, try Google.
One quick search was all I did, do not like what I found. look at CBS new money watch several others too. I like Sean too but I have lost big money on his picks. 4 year member. he (sean) talked in circles. buyer beware, you get what you pay for!
Sean Hyman was horrendous at picking stocks. His portfolios in absolute profits as well as UWR are both terrible advice. No wonder he got canned. He sucks ! BTU went to zero and near all of his other picks are down 70-90% . He did not beat the market as he claimed he could..
I was a fool too, to have listened to such a charlatan.
Fact is, he’s just not very good at trying to pick stocks . a lot of people lost a lot of money because of Sean’s terrible advice. What an awful service UWR and AP were. Good riddance .
Sean recommended stocks in my portfolio, -46, -21, -44, -24, -26%. All while the market is up over 35% in the time frame. Most of the man’s picks go straight down. Picks the euro…it loses. Picks IBM and moves immediately down. Metals, lose. Oil and gas, lose. Picks Turkey ETF, country is taken over by a dictator. He picks Brazilian Petrobras, just as Brazil crashes and burns with Petrobras leading the way with a massive corruption scandal. While we on a roll chasing the worst markets in the world why not take a Russian? Just as Obama and the rest of the world are putting on sanctions. Tells everyone not to pay attention to the news because his picks are based on solid companies with good fundamentals and deep pockets. He will do the watching for us. What a joke.
References Buffet and does nothing in the same way. Sells Apple (he sold it just to have a positive on the sold list) stock then goes up 30%.
Says after the fact that when he recommended BTU he said it was a speculative pick. Look back at the issues..never did he say speculative at the time, and in fact he was always pushing that he picked companies that had “deep pockets”.
For years says in writing buy at or below his stated price. Then after things are a disaster he says he taught us to average down. You can’t have it both ways. One thing is for sure, with his picks there is always the chance to average down.
Shows for weeks the S&P chart recommending that we should get out of the market in our 401K. Market then moves over a thousand points higher.
Says he sold his house saying something to the effect that he thought market was peaking. Last week, a year later, his area is declared one of three fastest growing population areas in the US. Should we tell him about supply and demand? Well we know from his oil and gas picks he has no idea.
In the end I would watch his videos just to see his newest way to declare black is white, night is day, up is down. The man has no shame.
So I don’t know anything about this new guy but I sure have learned a lot about the previous one.
Carpenter’s picks still in my portfolio – Starbucks bought 12-1-08 up 1281%, Advanced Energy 10-10-11 up 771%, Gildan 1-2-09 up 429%, Nutrasystem 10-1-08 up 389%, and in the same issue VMWare up 386%, United Health 5-15-13 up 191%, Trina Solar 1-25-13 up 127% Darling International 7-7-10 up 114% and there are a bunch of 56%-99%. So you can see why I am saying FINALLY!!!! YES!!! He’s Back. This is the smartest move Newsmax ever made, they should get hs wife too. You folks are going to love him because he is a stone cold money maker. Or you will hate him because he is a no BS guy and you some of you talk like you’d rather lose money and be coddled. I made a true fortune taking two of his investor trips to China with him. On the first trip I bought unrestricted shares in General Steel 48 hours before it went public. I came up a little short of seven figures on that at $918K. Then I bought real estate on Hainan. I sold one parcel at a profit of $613K five years later and after 10 years I am finally developing the other with a Chinese partner. I am 79 and like my toys. I made good steady money with his wife Lynn when she was Fleet Street Letter. After they fell out with Agora he had a small newsletter that I made a killing on.
I have been a subscriber for several years, but planned to cancel at my next renewal.
Sean seemed to be a good man, but made big mistakes. He completely missed the commodities crash, even though he claimed to be a commodities expert. He said it would be short lived and values would return – not even close. I lost a lot of money on his commodity based picks. Fortunately, I did not follow his most persistent warnings over the past few years about the S&P 500, which is where I have made money.
I too am unable to find background info on Andrew Carpenter. I did follow his advice on selling out almost all Sean’s positions, but new solid recommendations are very slow and limited. I cancelled.
I really missed Sean insight and investing sytle. I was with Sean since Sept 2013. I made made money on made money on all the stocks recommended except for BTU. Now we have Andrew C who is more of a trader than an investor, so it very difficult for me to follow. I refuse to buy the latest recommendation in the patriot portfolio because after looking at the charts, as Sean has taught us, it can have a great correction. I contacted him on twitter and he said the he hope to be back online sometime in July or August. Hopefully, he will go on his own this time.
Thank you, Tim. Come join me at http://www.seanhyman.com .
Woohoo…Sean is back with a great site…..prayers are answered! https://www.themaven.net/seanhyman/
I to am not pleased with Sean’s dismissal nor his replacement. I agree the new editor’s ‘ nuke the portfolio” is not only non empathetic to those of us invested in the portfolio but it sets a precedent by Newsmax that I am very uncomfortable with. Does this mean if Spetrino or Hutchiinson were dismissed or quit that a new editor could come in and “Nuke the Portfolio” I may send a memo to Newsmax regarding the process of Sean’s dismissal and the above concern. I am invested with Spetrino , Hutchinson, as well as Sean. Sean’s sell alert on AAPL which I too quickly followed was a disaster. Not only did I give significant money back to the market but I may never be able to get AAPL again and certainly not at the price I had it. However, Sean made a strong case based on technicals. Back to Newsmax they did not consider the subscribers in the fact that Sean’s was the only Newsmax Newsletter writer educating us about technical analysis. He did a brilliant job and if replaced Newsmax should have found an investor with similar and competent technical analysis competencies. I no longer subscribe to the Ultimate Wealth Report and I do no give a damn how successful the new non empathic editor maybe. I also am not ‘ nuking’ the portfolio and supervising it myself for better or worse.
Apple was sold at a nice profit, especially in the short time frame in which we were in it. That’s three times we’ve done very well on Apple. However, we exit when it becomes “high risk”, not when its at the top, because nobody knows the top ahead of time. But we can all know when stocks are becoming high risk.