“Anonymous Bank Wires” from Income Tripler

By Travis Johnson, Stock Gumshoe, November 21, 2008

I do miss the heady, fun days of the bull market, when you could get excited about a nice lil’ teaser about a growth stock that promised 1,000% returns … those were good times. Now, unfortunately, it seems that individual investors are getting a little smarter — they’ve seen that a promise of a 500% return in a few months more typically leads, as you can see from the Gumshoe Tracking Spreadsheets (just click “tracking” above), to a loss of as much as 90%. It’s a hard time to get people jazzed about growth stocks, though a few of them are quietly performing fairly well.

So we’re stuck with conservative strategies, and with income. That’s what gives people comfort now — and I can’t complain too much, I’m an individual investor, too, and I feel the same kinds of welling panic from time to time. That’s usually when I decide that I need to turn off CNBC.

Today, we’ve got a letter from Louis Basenese, who has been floating around and picking these kinds of income stocks, like MLPs and dividend growth companies, for the Oxford Club for a while now. Today, the ad I looked at announced the launch of his new “Income Tripler” newsletter service — you can be a “pre-launch” subscriber for about a thousand bucks if you like, but if you just want to learn a little bit more about what he’s teasing in his new ad … well, you know the drill, read on and the Gumshoe will provide.

Here’s how the ad starts:

“‘These SUCKERS are funding my retirement… and they don’t even know it!

“I’ve discovered how to receive instant “anonymous bank wires” from some of the richest gamblers on the planet – one right after another. It’s completely legal… and the perfect way to make extra income while the markets tank.”

He gives a bunch of examples, even showing a mockup of someone’s bank account statement to back up this idea that these are “bank wires” that let you secretly make money in some special way. But then he goes on to make clear, without using the words, that this is a strategy we’ve seen many, many times before:

“It’s easier than taking candy from a baby. Except…

“Even though this technique is a “secret” known only by elite investors, it’s totally legal. Because you aren’t actually taking anything from anyone. These people are literally giving their money to you. But who are they?

“Like I said, it’s an anonymous transaction. The way this strategy normally works, the “sender” doesn’t know who the recipient is and vice versa. But I can give you a fairly accurate description of the person on the other end of the deal…

“They like to think of themselves as hotshot “high rollers.” But nothing could be further from the truth. These jokers aren’t nearly as smart as they believe. They just keep throwing their money out there, knowing full well that they’ll never see it again.

“And even Forbes recently called them out for being “weak, greedy, foolish” and “totally clueless.”

“So I don’t feel the slightest twinge of guilt when these gamblers send me their money. If anything, they OWE it to me! And now I think it’s high time you get your share…”

Starting to sound a little familiar? Well, that Forbes quote is actually from a Crankonomics col