Lombardi’s Profit Taker

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Jan PardokirkRobert Simonclaytonhappycamper Recent comment authors

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goldi
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goldi

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… Read more »

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EDWARD
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EDWARD

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… Read more »

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beingfair
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beingfair

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… Read more »

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Reuben
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Reuben

I started this thread because you in effect told me I didn’t know what I was talking about. It is not obvious to you at all that I don’t “really” trade options. I have been trading options for several years–perhaps for longer than you have. The strategies I have used include iron condors, calendar spreads, diagonals, naked puts and calls, covered calls, bull and bear spreads, OTM short strangles[which are uncovered iron condors], ATM straddles, collars, and more. I have lost money, and I have made money, but I have learned to manage risk so that none of my losses… Read more »

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Reuben
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Reuben

Correction. I originally started this thread to comment on Rahemtulla. But then spreadtrader called me to task for writing something which he claims is not true. I have done my best to show that I do know something about what I wrote, and have not misled anyone. Obviously in spreadtrader’s opinion I have not succeeded.

spreadtrader
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spreadtrader

LOL…I finally flushed you out of the pocket. Good. I stand by my comments to the effect that your bald statement that the covered call strategy carries the “exact same risk profile” as naked put writing is MISLEADING. Coupled with your furtive and cryptic comments about the “subjectively perceived differences” of these two trades, it tends to create the impression that option trading is too risky, deep and mysterious for the average trader to understand. It isn’t. I asked several pointed questions that you never answered, including: “What have I said about the mechanics of the respective trades that is… Read more »

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spreadtrader
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spreadtrader

I re-read what I just wrote and I want to explain something. My use of the word “honest” above is not meant to imply that you are not “honest”. I mean that in the context of open discussion. So it was not a good choice of words. I believe that everyone comes to this site because they want to learn something. The more forthcoming we are about explaining points that we make, the more it helps people to learn. I’m not trying to be critical of you personally; and I apologize if it has come across that way.

Ron D
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Ron D

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… Read more »

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rick w
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rick w

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… Read more »

happycamper
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happycamper

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… Read more »

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clayton
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clayton

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… Read more »

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Gravity Switch
Admin

Solar is a renewed priority already, with significant new tax incentives, but I do think many of the programs that end up going through will take quite a bit of time. For what it’s worth, with the economy as it is I fully expect the next President to try as hard as he can to keep up the wild spending pace of the Federal government, and probably accelerate it. Direct federal spending is the only stimulus that’s got any real chance of a big immediate impact, it seems to me, so they could spend money on pretty much anything you… Read more »

A Lewis
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A Lewis

..after 9/11 within a week the French Government had anti-aircraft defenses for ALL their fast breeder nuclear reactors. Government can be fast.
On the eve of a possible depression (although I think bad recession) gas stands under $3.00. One day the business cycle will have an up-turn and the market will take gas prices to beyond $5.00 0r $6.00 in a short time. Then the folly of not seeking alternative sources of energy will be apparent. Just as it could be folly to bail out GM or Ford if they are going to produce those gas-guzzling dinosaurs which our enemies love.

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Robert Simon
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Robert Simon

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

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
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Jan Pardo

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… Read more »

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