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Jake Bernstein

 

Jake Bernstein is a self proclaimed futures trading expert with a specialty in market cycles. He is the president of MBH Commodity Advisors Inc and Bernstein Investments Inc. Jake Bernstein’s products and seminar events revolve around his theory that futures trading can be taught and easily learned.

Jake Bernstein convinces futures traders that the market has seasonal pricing patterns. Jake Bernstein believes that if a commodity has made money in a given time frame the year before than it will repeat itself the following year yielding the same profit.

When investment experts ran a trade campaign using Jake Bernstein’s system they recorded a consistent loss for five consecutive years.

Furthermore, Jake Bernstein and his company were fined $200,000 by the NFA for employing misleading promotional material, making false profit claims, and not reporting the risks involved in trading.

For more information check out this article by William Green published in Forbes Magazine.

I'm TEACHING YOU SOMETHING that I know works," says Jake Bernstein. "It's real simple." Bernstein, 51, is in a Washington, D.C. hotel meeting room mesmerizing an audience of aspiring futures traders.

Want to make a killing trading futures? All you need to know, says Bernstein, is that many seasonal price patterns occur year after year. Buy live hog futures on Oct. 30 and sell on Nov. 27. That's a trade that would have made you money almost every year in recent decades, he claims. Bet on the S&P 500 March contract to rise from Jan. 12 through Jan. 18. For 15 years, he says, this trade was a winner 93% of the time.

Does anyone believe his nonsense? Unfortunately, yes. Intoxicated by the promise of easy money, audience members line up to buy Bernstein's products, among them his books, with titles like The Seasonal Trader's Bible and The Best of Bernstein: A Treasure Chest of Jake Bernstein's Market Wisdom.

His monthly newsletter costs $400 annually; his weekly newsletter costs $895 a year. He sells three other newsletters, plus video courses and a CD-ROM ($695) that lists 60,000 seasonal trades. He offers telephone hot lines and charges up to $2,500 per person for his two-day seminars.

Yes, you can fool some of the people all of the time. Commodity Traders Consumer Report, a respected futures publication, tracks the trades Bernstein recommends in his $895 flagship newsletter. If you had acted on these weekly tips from 1988 through 1992, you would have lost money for five consecutive years (assuming typical transaction costs).

Let's say you set up a $20,000 trading account in 1992 and executed the newsletter's recommended trades for that year. Your account would have been wiped out. In 1996 you would have lost 95% of a $20,000 account. Bernstein's response: "There are always losing periods."

. . . . Bernstein kept losing money." Jake Bernstein found an easier way to get rich. Instead of just trading futures he would trade on investor gullibility.

In 1996 he starred in an infomercial that has aired on nearly 400 TV stations. It hypes a video course ($180) called Trade Your Way to Riches. In it a farmer named Harold Henkel tells viewers how well Bernstein's approach has worked for him. Henkel, however, now admits that he lost money trading in 1996 and 1997 while using Bernstein's products.

Needless to say, Jake Bernstein receives a slice of the brokerage's commissions. A Fox broker appeared in Bernstein's infomercial, touting his seasonal trading approach. W.G.

As an investor you still have to do your homework. It's up to you to learn as much as you can through a variety of resources in order to understand the big picture of trading. 

One great tool that I personally recommend is Free INO TV where you can view educational training videos from some the world's top analysts.  This is the type of information you'll get at seminars where a seat could cost thousands of dollars.

It's surprising that most people don't know about such a great resource that thousands of traders are using every day to improve their trading skills.  Click Here For More Info.

 

 

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