Complaint Review: Wall Street Underground - Kansas City Kansas

I didn't sign up for the newsletters but I listened to the free broadcasts. Nick correctly predicted the stock market crash, the decline of the dollar, the rise in gold and the euro. Wow. Think about that for a minute. It's too bad that it sounds from these complaints like the customer service could be a lot better, but I want to say that this guy spoke the truth when the TV news comentators were lying through their teeth to you. You probably should have followed his advice. I only had a little money to invest, but Nick's advice made me some money on gold. About 30% in 2 years. Thanks Nick.

I was surprised to find people were unhappy with Nick's services, even more surprised that they were not refunded their money. I, too, paid $5000 for his services back in 1999. I quickly lost about $20,000 in the stock indices. I had his fax service and received his recommendations via his web site. I also worked for the government and wasn't allowed to use the computer for personal business. At the time, I had no cell phone and was often traveling, with the radio as my only link to the stock market reports, and they were pretty poor indicators of how the stock futures were doing anyway. By the time I got home to read my faxes or fire up my computer, it was too late to take action on Nick's alerts. The market was closed. Some of my losses were Nick's fault, he didn't count on the Fed jumping in to bail the market out and cause a rapid reversal. My being unable to follow the markets intraday or receive Nicks alerts was not his fault. When my years subscription ended, he continued it, and I still get it to this day. He made me some money, about $20k, last year on the Dow, and about $10k this year in oil, well, by the time I was able to exit the trades I gave up about half of my above profits due to the quick reversal and to my top-heavy buying. He suggests buying at each $10 or 100 point move, depending on the market, I couldn't afford that and had to wait until I could internally finance the trade with no out-of-pocket expense. If this makes no sense to you, you should not be trading! Had I really followed his advice, I would have made $100k on the Dow and $35k in oil. Trading is a risky thing to do, Nick makes that perfectly clear, he says to never risk more than you can afford to lose. Nick goes for a moon shot, he doesn't do day trading, he just does long term fundamentals. People like me often get scared and exit too early, take a loss and hesitate to enter the market again. Any investor that has followed Nick's advice for the last year or so and really followed his recommendations on oil, gold, the stock indices and palladium has made a bundle of money. Perhaps futures are too risky for you, Nick doesn't do the low dollar agricultural commodities. his forte is precious metals, indices, crude oil and a few of the currencies. If what you're looking for is a steady $60k per year, very limited losses and are capable of following the stuff intraday, or just setting your parameters with your broker in the morning, I'd strongly suggest Joe Duffy. Joe gives an excellent service that doesn't cost anywhere near $5k/yr. He only does stocks, no futures. If you've got $50K to $100k to risk (I'm playing with around $20k) and want to turn it into a million or so, have a way of receiving fax alerts during the day, in my opionion, Nick is the best! While everyone else was predicting gloom and doom over Y2K, (me included!) Nick was saying it would be no big deal. Nick has been right on most of his predictions, he has some pretty good connections. He may be rude and crude, but he tells it like it is! Okay, if you added and subtracted right, you'd see that I have lost money since paying my $5,000 for eWSU. That's correct. I also lost money before I subscribed to eWSU. Commodity trading is not for the inexperienced. Experience takes a while, it's best to paper trade. I was too impatient. I didn't have enough money to maintain my positions as Nick advised, had to bail early, normally right when the turnaround happened that would have made me the money. Nick doesn't claim to hit the exact top and bottoms, that's impossible. All of the claims that he has made, he has made good on......I was just about $30k too poor to follow his advice. Had I started with $50k, I wouldn't have a money care in the world. To those of you that are for some reason unhappy with eWSU and paid $5,000. I hope you get your money back...That was the promise...Those are the conditions that I originally paid my money for. I'm still taking advantage of my eWSU subscription. With everything now doing very little in the markets, I want to be poised to jump in again as soon things start moving. Nick's taught me a lot, I'm starting to think more like a trader and have began to really trust Nick for his insights and recommendations.

It sounds as if your dad has gotten into unfamiliar territory and needs the guidance of a competent broker to accompany Nick's recommendations. If he does not have this type of advisor, I would recommend that indeed he ask for a refund. Call Nick's organization. I have spoken to them on several different occasions and have always received helpful advice. If they found themselves in the same situation with their parent, I am sure they would also expect a refund. Keep calling and allow them to do what it takes to keep the process moving forward. Good luck.

I subscribed to the Wall Street Underground believing his claim of a refund if not delighted. It only took one issue to realize it was a waste of paper with a issues every 2 months at best and primarily and advertisement for his $5K "service". Does any one get a refund from that either. He ripped me off for $170. I have been waiting for 10 months for my refund. Everytime I call they claim they will send it. It never comes.

Any suggestions?

They filed the following rebuttal to the above Rip-Off Report:

Their email: [email protected]
Their name: janet v bosley

Their relationship to the company: Devotee

Rebuttal:

I Janet V Bosley submit that T.W.S.U.is not the one ripping off the people, but it is Wall Street that con the people into investing their life saving , today I sit at home because of no work,yesterday it was some other employees also today like myself other employees are sitting at home just waiting for our company to tell us we are going to be layed off hopefully I work I think today the company will deside who they will lay off, Sir, I think we are at the point of depression,but like Wall Street we wont be told untill we have nothing left for stock markets to take . I thank God for those that are bold enough to stand in the gap and try to wake up a people taking nap mist the war on our security.