Complaint / review text:
10/30/2007 after long involved telephone discussions with representative Joshua and verbal guarantee that I would not lose my investing capital within the first 60 days, I made the unfortunate decision to subscribe to the $5500.00 annual cost Chuck Hughes Inner Circle investment advice scam. Remember - Joshua had guaranteed me a refund if within 60 days this advise showed major losses. Fat chance - this guy is a lyer.
Chuck Hughes recommends trading in positions of approximately $10K each.
Joshua was emphatic that I jump on the "seasonal trades" which was supposedly "hot" - so I purchased 10 X S&P 500 Jan 08 145 call - SFBAO
- recommended entry $12.75 (10 X 100 X 12.75 = $12750.00). I was able to enter this position at only $10.35 ($10367.95 inc commission) so I thought I was ahead! That is, before it tanked! - 12/06/2007 I sold at $8.25 ($8232.38 inc commission) for a loss of $2135.57 on this one position. Note - Today 01/08/2008 Chuck Hughes continues to sit on this position for a loss of $9K! This is absurd! - There is no stop-loss set with this trading strategy - this is asinine.
I paper-traded his other recommendations in October, November and December 2007 All were losses!
In the beginning of December 2007 I asked for a refund. I certainly will not continue to throw good money after bad every recommendation had tanked - and I have no longer any confidence in any advice from Chuck Hughes Inner Circle. Joshua had given me a verbal guarantee over the telephone. Now I learned that this guarantee was worthless. Whatever these people tell you do not believe it. They will lie just to make a sale; they have no concern over your welfare. Their purpose in life is to sell you a subscription to their investment advise with a bogus guarantee that requires you to continue to follow their poor advice for 12 months before they will issue a refund. If you do not actually participate in the market and experience real losses, they will not honor their written refund!
I say Beware. Do not fall for the scam that I fell for. Do not believe what Joshua, Nathan, Linda and others at Chuck Hughes tell you. Don't waste your money.
Watch out for these scoundrels.
You would be better off throwing darts at the paper and choosing stocks that way.