This organization and people involved, from Ashish Advani, the financial "guru" who heads up this newsletter and financial alert services are less than honest about their track records. This includes the Executive Director of The Sovereign Society, Erika Nolan, who promotes Ashish's "Big Game Hunting" or "Exotic FX" alert service. She has no shame in her wild claims to easy riches! They give FOREX trade recommendations, all on exotic currencies such as the Mexican Peso, South African Rand, Polish Zloty, Hungarian Forint, etc. Very volatile stuff.
They claim that their recommendations to buy/sell FOREX, foreign currencies, could have netted their subscribers over "$232,000 on 29 small trades". Further digging, they claim this is based upon putting $3,000 into each trade at 100 to one (1) leverage, which is not uncommon in Forex. When you receive their marketing propaganda and watch their video sales pitches it looks legit. Here's what they don't tell you!
Their false and fabricated investment returns include their first six (6) ALLEGED trades that no one actually received or traded, because it was only available to this mythical group of "beta testers" before the real paying subscribers joined. Well as "luck" would have it, they proclaim a perfect 6-0 record on these first 6 trades AVERAGING over 1,560% rate of return!!! Sure! (361%, 1,229%, 2997%, 2948%, 1509%, and 334%)... Like this happened! So your hypothetical $3,000 per trade would have made you over $250,000 in a short couple of months! All hype... Not true! I have been a subscriber of their services and painfully know first hand that their ACTUAL results are far less stellar. Now, here's what really happened when the paying subscribers got their first real-world trade recommendations.
According to their very own documentation, the Exotic FX Alert Portfolio dated 6/15/09, their next 17 Forex trade recommendations, went 5-11-1 on a win/loss record, with an AVERAGE LOSS of -112% PER TRADE! Your $3,000/trade would have cost you over $53,000 in losses in less than 6 months! BTW: this was all under the recommendations of Jack Crooks of Black Swan Capital, who ironically is no longer working for Sovereign Society and this financial news alert service... As he's now peddling his own currency recommendations for a mere $99/month. Trade-by-trade results on 17 trades: -603%, -153%, -385%, -222%, -508% (yes, 5 losers to start -$56,000 in the hole), 171%, 187%, 197%, 780% (suspicious here... But no other trade profited more than 397%, excluding their first 6 fictitious trades), 0%, -159%, 273%, -567%, -291%, -282%, -210%, and finally -14%.
Since Jack Crooks departure, Ashish Advani took over in April. To be fair, he has gone 5-3 with an average return of 35.8% per trade, which is good, but of course 8 trades is a very small sample size.
This organization has some good analysis and good articles, but their marketing tactics are despicable and unethical. Do you really believe that "by chance or luck" they actually averaged such high returns when there is no one to validate them other than planted beta testers? Then after us paying subscribers hop on board the results are terrible. I'm sure they will come back with a rebuttal saying that it was the economy pre-November crash, or something like this. However, all their marketing material sells currencies as a great investment vehicle in a down and volatile market. After all, currency trading is relative to another currency, as one currency is going up the other one is going down, relatively speaking.
I just want them to be honest with potential subscribers who are investing real money by paying Sovereign Society thousands of dollars per year in fees with the false expectations of impossible returns. Don't lose your nest egg on scammers! We've seen what guys like Bernie Madoff have done to thousands of families nationwide! Buyer beware!
0 comments