Steve Sarnoff, options guru

[Flyboy]

As an advertised member of this site (upper right hand side of the home page), I would think he has the credentials to back up his "make a million" in 5 years with just $5,000 starter fluid.

Anyone have thoughts on his approach.....good/bad....otherwise? I'm not an options trader, but would like to dally in it soon.

Cheers, Paul

[netwrangler]

Originally Posted by Flyboy

As an advertised member of this site (upper right hand side of the home page), I would think he has the credentials to back up his "make a million" in 5 years with just $5,000 starter fluid.

Anyone have thoughts on his approach.....good/bad....otherwise? I'm not an options trader, but would like to dally in it soon.

Cheers, Paul

Well, golly, where to start?

1. Being an 'advertised member' of this site is well and good, but doesn't add any special cachet to the advertiser's credibility.
2. As far as I can see, you really have no basis for thinking 'he has the credentials' - other than his own advertising copy, of course.
3. Hard to have 'thoughts on his approach' when that 'approach' is not fully revealed. For any 'picking service', the only sure way to tell how well they have performed in the past is through an independent audit. Fat chance of getting that.
4. You say that you are "not an options trader." It isn't clear to me why you would want to start out by paying money to some guy you find through an internet ad. Why wouldn't you start by getting some basic education for free and then trying out some simulated trading before committing real funds?
5. You say you "would like to daily in it soon." Are you suggesting you want to day-trade based on a weekly option pick? Hmmm. Where are you, who are not an options trader, going to get your daily guidance?

With 'picking services' that claim a history of off-the-chart returns the question is always, "Why isn't this guy running a major hedge fund instead of peddling a picking service?"
I believe that question applies here.
The obvious answer, "Maybe he's not as good as his advertising copy would have you believe."

[Florida]

Please refer to my post on a similar question yesterday about Bernie Schaffer's option service, the same applies to this service, (I have tried it in the past, and found the claims to be somewhat exaggerated).

If you are so inclined to try such a service, just email me directly, and I will give you my address where you can send your check each month, and I will randomly pick an option each week for you to enter. Better yet, save the commissions, and just send me a check for whatever amount you were going to risk on the trade.

[Flyboy]

My question was simply why the site would allow a site vendor on that may, or may not be in the best interest of its members? That's all. I'm a firm believer that if it sounds to good to be true, well....you know the rest


I have a friend who is an active options trader that has offered to place trades for me, but being the control freak I am, I have purchased three books to read up on this transaction prior to taking him up on his offer or trade on my own.

Having traded stocks successfully for the better part of 20 years, options just seem the likely next step, should I decide to take that next step. I may realize the risk far out ways the reward for my purposes, but having the knowledge of option trading can't be a bad thing to have even if one does not partake.

Thanks for your relpies.

[netwrangler]

Originally Posted by Flyboy

My question was simply why the site would allow a site vendor on that may, or may not be in the best interest of its members? That's all. I'm a firm believer that if it sounds to good to be true, well....you know the rest


I have a friend who is an active options trader that has offered to place trades for me, but being the control freak I am, I have purchased three books to read up on this transaction prior to taking him up on his offer or trade on my own.

Having traded stocks successfully for the better part of 20 years, options just seem the likely next step, should I decide to take that next step. I may realize the risk far out ways the reward for my purposes, but having the knowledge of option trading can't be a bad thing to have even if one does not partake.

Thanks for your relpies.

OK, great! Glad to see that you are going the education route.
What three books did you get?
I hope you share a 'book-review' or two with us as you read them.

=====
As to your question, simply, are you suggesting "the site" should verify the claims of all advertisers and then determine if the advertisers are in the "best interest of its members?" That's not how I understand advertising to work - on any site or in any medium. I mean, how is "the site" [or the newspaper, or the TV station, or any information medium] going to know?

Speaking for myself, I figure advertising is advertising - no more, no less. Some ads are better than others. Most ads are simply better ignored. I was successfully ignoring guru Steve until you brought him up.

Seriously, if you have a problem with the ad, take it up with Thierry Martin in the Forum on 'information, guidelines, issues, and questions'. That's near the bottom of the Forum list.

=====
A good site for free information about options and options trading is the learning center of the CBOE site itself.

Just a note in passing...most of their on-line courses, those that used to cost $50 each, are now available for free. The site states this is due to the courses being subsidized, "Thanks to the generous support of [their] sponsor." It'll cost you a name and an email address to get them to waive the fee...or you can stay anonymous and pay the money.
Your choice — you get good educational info either way.

[Thierry Martin]

Originally Posted by Flyboy

As an advertised member of this site (upper right hand side of the home page), I would think he has the credentials to back up his "make a million" in 5 years with just $5,000 starter fluid.

Anyone have thoughts on his approach.....good/bad....otherwise? I'm not an options trader, but would like to dally in it soon.

Cheers, Paul

We run advertising from different networks and we do not endorse the thousands of different ads that may appear.

[JT914]

I myself took some money to burn and tried this 30 day money back that Sarnoff offers, I had to e-mail to even get my picks as they could not find my order. The recommendations he made "TANKED" in the first 3 days needless to say I got my money back before the 30 days were up!

Afterwards I made my own picks and did better than his!
education is the key!

[wallstreetsedge]

i was just wondering...

were the giant red arrows pointing to doublingstocks.com part of their ad or otf?