PromoStockPicks.com, a Scam or Elaborate Hoax?
First there was DoublingStocks .com and now a new site PromoStockPicks.com promises to make investors rich from their stock picks. (It makes us wonder if it’s the same people that created the stock trading robot.) The sales pitch is actually convincing and so are the testimonials; unfortunately, it’s all one big blatant lie.
“The following must be read in its entirety before purchasing and/or using any information contained on PromoStockPicks.com”
We don’t have to say it in our own words because they do a good job telling you in their “disclaimers”. So go read it and save yourself $47. If that’s too much work, here’s an excerpt from the Information Warning and Investing/Trading Stocks section of the Disclaimer.
“Information Warning: …..Accordingly, you should assume that all such information has been completely fabricated. For example, all people, events, and dates (as well as all related subject matter) mentioned on this website are fictional. If you choose to access this website or purchase any of our products/services, you must understand that none of the information we disseminate is to be taken seriously. Is should also be noted that if you do choose to pay for a subscription to the fictional Jason Fuller’s email newsletter, the newsletter does occasionally accept compensation from publicly traded companies for advertising purposes. You should assume that all trading results featured on the PromoStockPicks.com website and/or email newsletters are based on hypothetical or simulated performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. …..You should not expect to achieve results as good as those described in the testimonials, especially since the testimonials are fictional.”
“Investing/Trading Stocks: ….Neither the fictional Jason Fuller, nor PromoStockPicks.com employees are registered as investment advisors, financial analysts, brokers, or dealers in any jurisdiction whatsoever….”
Though they admit that it is all fictional, they know that a large percentage of investors will never read the disclaimers before subscribing. If challenged, they will say they have disclosed these facts and the buyers should have read the disclaimers. This has scam written all over it. It may be an elaborate hoax, but they are profiting from it which makes it unethical. These guys definitely got some balls. Once again, buyers beware and always read the fine print.
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February 10th, 2008 05:56
[...] is a blog about alternative investing blog. One of the articles that made me laugh this week was PromoStockPicks.com, a Scam or Elaborate Hoax? so which is worse, a scam or a hoax? The post catches what is in the disclaimer of the paid [...]
April 12th, 2008 11:08
The first suggestion that this publication is likely a fraud is in the fact that the advertising says that the newsletter subscriber base will be limited to 450 persons. Well, 450 at 47 dollar each is only $21,150.00
Why would anyone with the supposed background and income of this Jason Fuller spend any time at all on something that appears to return so little?
Seems the best promotion about the pre promotion newsletter is the promotion of it itself.
April 23rd, 2008 13:51
Thanks for more information. One of the sites I belong to, http://FalconStocks.com posted some info on their site about doublingstocks and how much of a scam it was. That disclaimer about everything being fake is hilarious. And should be illegal.
May 4th, 2008 10:38
I like hatchet wounds
July 16th, 2008 07:48
Why does he bother collecting $47 from us schmucks for a “newsletter” when he and his buddies are racking it in pumping his picks? He (they) says that the $47 will be refunded if five out of next eight picks are losers. He seems to get around that by dropping you from the newsletter of four straight losers. I’d love to turn these guys over to some authority. Anyone got any ideas?
August 2nd, 2008 22:45
Jason Fuller or whoever is really doing this “promostockpicks” has proven to me a 100% lies!!!
His winer stocks promo are false per his disclaimer.
His record of creating millionairs and multimillionairs can’t be true as all his video testimonials are NOT millionairs.
His first two picks which I got did the same. It starts high Monday morning, then crush and you lose 50%-70% in days.
He also have the nerve to seem like taking responsibility for his mess up and handle you to invest again in a loosing stock. It happened on his first two picks and I see other complaints of this repeating pattern.
This people should be put under justice.
October 22nd, 2008 08:43
These guys are nauseating. They suck members in who are searching for ideas with the understanding that there will be a huge run up in share price once the word is out to their members. They tell you to watch your emails as on a given date their next HOT PICK will be announced. Of course they romance the story and secure large positions for themselves to liquidate once the sheep flock in. This is a MAJOR SCAM and they should be investigated and stopped. If I were a lawyer I would be all over these guys, disclaimer or not.