Nick Guarino

Nick Guarino Wall Street Insiders worthless and expensive advice, Internet

4th of Nov, 2010 by User760967

I subscribed to Nick Guarino's Wall Street Insiders newsletter Sept 2009 - Aug 2010, paying $5,000 for one year. My "reasoning" (HAH!) was that I would at least make the subsciption price back. (You'd have to see the promotional material to understand!) He focuses on gold, the Dow, oil, and the financial sector. He was bearish on all. He particularly touted an ETF called FAZ, which tracks bearish sentiment on the financial sector (the worse the banking system is looking, the more profitable the FAZ). He predicted FAZ would at a minimum go to 200 - even to 1,000 or more! I bought at 23.89 in Sept 09. It went below 11, and has been mostly between 12 and 13 for over a year. He claims to have suspected it would go to 12, but I don't believe he shared that insight (it is not in printouts I have). He predicted oil below $30/barrel - it has stayed mostly between $80 and $90. He predicted gold at $400 - it went to $1394 yesterday (11/4/10). He predicted the Dow at 2000 - the Dow has been hovering around 11,000 for many months. His writing is very colorful and persuasive, sometimes obscene, and he is obviously highly intelligent. I enjoy a good rant against Wall Street and the government as much as anyone, but I paid a high price for being "entertained". Will his predictions come to pass? Well even a dead watch is correct twice a day, but he didn't come close during the past 14 months!

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