Larry Edelson’s Oil and Gold

By Travis Johnson, Stock Gumshoe, October 30, 2009

I’ve spent the past couple Fridays looking at stocks I like in this Friday File space, so I thought I’d get back into doing some teaser review for the delightful Stock Gumshoe Irregulars this week — and who better to take a look at than Larry Edelson, who is part of the oft-discussed Weiss universe of newsletter editors.  There remains a huge amount of anger going around about how poorly timed the big push was for Weiss’ expensive depression-planning advice this Spring, and the fact that his followers would have missed this year’s rally, but Edelson’s work with resource stocks has him popular enough with my readers that his Real Wealth Report newsletter is still in the top ten over at the reviews site.

Doesn’t mean that Weiss won’t eventually be right if the market and economy crash again, or that folks won’t start hating Edelson at some point soon, too, you can never tell — but right now, Larry Edelson has some fans. And today he’s pitching not his relatively reasonably priced Real Wealth Report ($99ish), but the “upgrade” newsletter Resource Windfall Trader ($3,000) … and to entice the curious investor, he teases us about a few stocks that he thinks we should consider … so let’s have a look at a couple and see if we can figure them out.

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The first one gets superstar treatment in the ad, so perhaps it’s his favorite — here’s how he pitches it:

“The Oil Explorer with ‘X-Ray Eyes’

“This remarkable company specializes in 3-D seismic imaging to locate undiscovered oil reserves right here in the States. It then turns those discoveries into money in the bank, actually producing the oil it finds and selling it at a tidy profit.

“Business is good: The company is a major player in the largest continuous oil accumulation ever assessed by the U.S. Geological Survey. And overall, its oil production volumes surged well over 25% in the second three months of this year. Production from one of its major fields more than doubled, jumping 143% over last year.

“And better yet, buying this stock now is like … Buying all the oil you want at a 92% DISCOUNT!

“What I really love about this stock is that it gives you a great way to leverage future increases in oil prices.

“This company now controls oil and gas reserves worth ...

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