Lombardi’s Profit Taker

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goldi
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goldi
December 26, 2009 9:10 am

Letter: The Profit Taker
Publisher: Lombardi Publishing Corporation
Editor: Bob Appel

I subscribed for it for two months. The returns they advertise are impossible to achieve for several reasons. First, one needs to have unlimited funds to buy every recommendation, which practically nobody has. Second, you can’t buy the stocks at recommended entry price, because you are always “a little too late”, and it is already 10%- 20% up. The same is true for selling, but in reverse. So you loose 10% – 30% compare to advertised returns. Third, they cheat in the advertisement, because they do not show wash trades, the ones that have returns of +/- 2%, but you will learn about it only after you subscribe.
In two months of service I could only get about even.
The customer service. You can’t contact Bob Appel with questions; there is no means for that. You can send your questions to customer service regarding the subscription. It is very slow. It takes two weeks to enter your email into the system. And I still did not receive the promised refund for unused 10 months, more than two months after cancelling the service.

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EDWARD
Irregular
EDWARD
January 26, 2010 4:26 pm

I subscribed to this service on December 3, 2009 and cancelled the subscription on December 13th. I could see right away their methodology was not for me. I was told I would receive a refund “within 30 days.” I waited 30 days and called again. They have no 800 number so a long distance call was necessary. I suspect this is to discourage calls. Then I was put on hold for an extended period before someone finally answered. When I spoke with the customer service representative, she said I would receive my refund “in 30 BUSINESS days.” I later wrote an email inquiring again and said I did not understand why it takes so long to refund my credit card. There was no reply. It has now been over 30 business days and stilll no refund. I just get the feeling that this is a deliberate business model that cares very little about their customers. I would not recommend this company, Lombardi Publishing.

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beingfair
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beingfair
March 30, 2010 2:19 pm

I admit I read the other reviews first. I have been a subscriber since 2004 and yes I have made money but not recently. Recently (2010) picks have been weak and many wash trades. But the wash trade policy is there in black and white. They are very consistent, can even tell you how many times a stock was discussed in an Alert, which is a neat trick I have not seen elsewhere. The quote section is wonderful, my fave part. Very insightful. I did ask and I got a reply saying that it is hard to find smallcaps in a bear market and that makes sense. Also many of the other letters reviewed here don’t do picks at all, and definitely dont do Alerts, which makes an unfair playing field. I once got a reply which I think was from bob appel – it was signed Editorial #1 only — and it said that the staff have no control over the marketing or pricing. Maybe that was a hint?

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Ron D
Ron D
March 31, 2010 12:43 am

I subscribed to Profit Taker starting at the end of Nov.09 after 3 emails with the stock info I realized I could not buy every trade that was recommended, financially impossible and the holding time for some of the trades in the “open” portfolio dated back more than a year! Decided it wasn’t my kind of trading methods– Called for a refund (early Dec.) and was told I would be credited in 30 “business days”, well being Xmas season and New Years I didn’t get my refund until the 2nd week in Feb. I am a subscriber to approx. 4 investment letters, but I did try and did cancel a few that did not match my methods until I found the “right ones” for me- all other publications gave an immediate refund with no hassels I will never try another “Trial Offer” from Lombardi publications again!!! Word of mouth advertising can be very Good or Bad, so to just float a few hundred $’s and have Bad customer reviews does not make sense,(unless he’s floating very large sums!?

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rick w
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rick w
March 31, 2010 5:15 pm

Made a lot of money on two picks, TRE in 2005 and QCOR in 2008. As in “put your kid through college” money. Last 12 months or so, performance is %$^& terrible. Losses here and there yes, but net overall a very large gain. Will likely not renew, going to take the money and run. Something is odd here. Back in the day, they used to actually brag about how few readers they had, and then out of nowhere in 2009 suddenly there is this monster internet promotion, the kind of thing you would expect from AOL, not a little rinky dink letter. Also if you look closely, “Bob Appel” (if there is such a person) does not appear anywhere on the publication or masthead in 2010 and even the name of the thing has been changed too. Buyer beware. This ship has sailed. Even a stopped clock is right twice a day.

happycamper
Guest
happycamper
April 2, 2010 3:33 pm

Generally I like the Gumshoe but something is not making sense here. I think you need to add a “neutral” category (instead of either positive or negative) because Rick above basically said he made a killing with this letter, and then started to trash talk it. And you ranked him a negative. Let me try. I am a senior citizen with lots of subscriptions over the years. I took Profit Taker 2004-2006 and started again in 2009 because frankly I missed it. A few points (1) no one has ever disputed their track record. That’s because they archive everything and the track record is real and can be proven. (2) People don’t like the aggressive way they record their wash trades but the mechanism is explained at the end of each issue in plain English. (3) People don’t seem to like the recent picks but almost every month there is an editorial explaining that you don’t find a lot of great buys in a bear market. Makes sense to me. (4) Finally no one likes the marketing, and when I saw a copy of it on the net I did not like it either. I had an off the record phone chat with someone at Lombardi and got a few clues. There really is a “Bob Appel” but he is retiring in 2010 for health reasons. He has been writing letters for a very very long time, always with small circulation, which is the way he liked it. In late 2009, Lombardi did a massive monster campaign by email which hooked a whole bunch of new readers. Appel was it seems horrified when he saw it. That’s the word they told me. Horrified. The numbers on past performance are correct but the chances of maintaining that performance going forward were overblown. However, since he is leaving the publication anyway, all he can do is grin and bear it. It becomes the problem of the next editor. Meanwhile I am up almost 40% on a little mining stock the letter recommended in February and I am far from an unhappy camper. So please count this as a positive review.

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clayton
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clayton
June 19, 2010 5:21 pm

Hey y’all. It’s the summer of 2010 and according to the business magazines most mutual funds were lucky this year if they did not lose your cash, yet alone make money. Well this quirky little newsletter not only was flagging danger signs over last winter but was doing a great job of pushing scared investors like me into gold too. And I am very happy with the result. It’s also a good read and has articles I have never seen anywhere else. So far so good. PS — you have the name wrong. I sub’d in Feb and it was called LOMBARDI’S PROFIT TAKER.

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Robert Simon
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Robert Simon
July 27, 2010 2:02 pm

Had PT for about a year. Cancelled around July 2009 because I was laid off and decided to retire. I made alot of $ with Mr Appel. I still have the final watch list he sent and it is up up (485.894%). The best pick was UIS which I added to my watch on 06/29/2009 @ 1.38 and currently its 26.95 up 1852.9%. Another is KERX which is up 1640.9%.

kirk
Guest
kirk
February 9, 2011 6:25 am

I really like this one. Subscribe a year ago, early 2010, and nothing much for most of the year, a lot of promises about some mining picks and then yes right on time all the mining picks pretty much double or better. Good market analysis too. Wish all my subscriptions were performing like this.

Jan Pardo
Guest
Jan Pardo
February 17, 2012 7:04 pm

A strangely addictive letter.Here is what happened. Jan 23 I get an email that DRYS is on something called Buywatch. I am a new reader and don’t know the jargon so I think this is a recommendation and I buy some. The stock goes up 50% in about 10 days. I am happy. Then I get an Alert saying that we were meant to watch the stock not necessarily buy it but, this is a quote, congrats to those who jumped in anyway. Of all the letters I get, this has made me the most money even though I guess I did not understand what I was doing. Also pretty informative on world news.

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