All Talk, Opposite Action
I took the time to read Jim Cramer's new book, Get Rich Carefully. In the book, the author strongly recommends limit orders when buying, stop orders to avoid heavy losses and careful management of losing trades.
Immediately following the last page of the book, I signed in to Action Alerts Plus and forked over some $300.00 for an annual membership. I also emailed customer service to ask about upgrading my account to the Chairman's Club. The only additional information that I wanted was to simply have the names of the charitable organizations to which The Street donates the profits from its online portfolio. I like to understand as much as possible about the investments/affiliations that I make.
The next day, an operator from The Street called me on the phone - nice and ready to take my credit card information for the upgrade to the Chairman's Club.
The only problem is that there was no information from the caller about the charities that I previously requested. I asked again for this information and was promised that someone would return my request as soon as possible.
Weeks went by. I sent another email. No response. Simultaneously, I began to pay attention to the numerous detailed premises in the new book, versus the management style of the online portfolio. I noticed that despite the management advice about losing trades, the portfolio continued to hold VALE, despite the stock breaching the $13 level. This amounted to huge losses in the portfolio (basis was over $17 per share at the time). There were other discrepancies (in my opinion).
To summarize, I wouldn't waste my money on this newsletter. The customer service is lacking and the portfolio management seems to be in contrast with the sound financial and investment principles that are detailed in Get Rich Carefully.
I have no doubt that Jim Cramer is highly competent. However, The Street has a lot of "growing up" to do if it's to be taken seriously by high net worth investors. Mr. Cramer seems too involved with his incessant tweeting, his television program, Brooklyn restaurant and Bed and Breakfast to be an effective portfolio manager for investors truly making the attempt at growing their capital investments.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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