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Australian Stock Report

Discussion in 'Trading/Investing Resources' started by Mega Rich, Jun 28, 2006.

sentifi.com

Aussie Stock Forum Sentifi Top themes and market attention on:

  1. gazztrade

    gazztrade

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    I have been suckered into the Australian stock report signed up for shares and CFDs been allocated a trader they send out recommendations via SMS i respond to that SMS with a YES if I want to be in the tradethey then execute the trade for you. Ive bought/sold into them as much as i could and they have done nothing but lost money since day one. They claim profits on their "trade tracker" however they work off a best case scenario and don't include trade fees.
    9/11/16 NAN they claim $150 profit REALITY for me $90 loss
    9/11/16 BTT they claim $228 profit REALITY for me $140 loss
    9/11/16 CGF they claim $$271 profit REALITY for me $176 loss with an apology from the trader for taking so long in getting me out of a losing trade because he was in a meeting.

    Do yourself a favour MY trade recommendation if you get a call from the Australian crock report is hang up . They survive on a turnover of subscribers and commissions on the trades done by us honest people/traders.
     
  2. beno668

    beno668

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    Hi, thanks for your summary and advice.
    Do you use them as your broker as well?
     
  3. mitch gouldski

    mitch gouldski

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    Do not go anywhere near these guys. I will share my honest story with you if you like.
     
  4. mitch gouldski

    mitch gouldski

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    Dave... After having been sold the usual prosperity trading fantasy, I signed up in July 2016... That was the month that my life changed horribly after dealing with these guys...

    I will give you fact rather than emotion - it's just how I do business.

    I invest around 100k at any given time. My holding were as follows when I joined ASR...
    A2MILK 20000 units at around 1.80 and
    Regis Gold RRL 20000 units at around 3.20

    What I was told... A2MILK is an overly hyped and marketed brand... Sell up and stay well clear of it... So I did. RRL not confident at all, consider DCN instead. Consider Mayne Pharma MYX... Yes load up heavily on this. Importantly put your wealth into Cash Converters instead as "we would hate to see you miss out on the 38 cent mark and loose on what is likely to be the next JB HiFi well into the mid teen dollar range."

    Fast forward to now... Had I stuck to my own analysis my worth would be the following... A2MILK at 7.50 around $150000, RRL at 4.00 around $80000... Total worth around $230k...

    What they convinced me to do... Sell all and load up 100000 units CCV at around .38, 20000 units DCN around 3.40, and other specs such as TON 10000 units at around .008

    That decision ended in the following: Drop sells set CCV at .25 and DCN at 1.60

    I lost and heavily so!!! Easy to do the maths. Ohhhh and I also lost my savings, my beautiful relationship, my accommodation, my children, my happy life I once had. The irony is that when I spoke to ASR they were completely dismissive, said my advisor Rob Corlette??? was no longer working there and was being sued for providing unvetted stock tips advice. I NEVER knew this and simply trusted his judgement. They never provided an apology, never would return calls as promised - complete gutless cowards!!!

    The lesson in all of this, please save your money and importantly, save your most treasured things in life.

    God bless.
     
  5. luutzu

    luutzu

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    In general, I think it's best to never ever take anyone's words, recommendation and advise on investment.

    Don't do it even if they're highly paid advisers and "smarts" from big reputable investment houses and banks.

    Here's why....

    You'll have to assume that the advise you're getting is honest, fair, well-researched. That the adviser/analyst are telling the truth as they know it; that they are not being influenced or pressured by other incentives... that they're giving you, their reader, the honest truth as their years of financial training and investment experience can see that truth.

    Now.. .that's a big massive set of assumptions. You're basically assuming that the advise given is honest to God advice from people who know what they're talking about.

    Even then... advice and recommendation can go wrong for many reasons. They can also go right for many other (then, un-imagined) reasons too.

    Buying stocks is buying into a business. Judging that stock values... that's marking it to market.

    A business can be one of high quality and selling at great value... NOW... So the advise might be to get on in. Which, all above assumptions being true, is good advise.

    But then... for unknown reasons, the business deteriorate; or hit a snag on one of its projects/division.
    The business might still be very good... might be a bit less valuable now given the snags and missteps that all businesses goes through now and then...

    But then if the market sentiment is against the company or the industry and sector... all on top of that snag to the company. Its share price will get smashed and those taking the initial advise, being honest and right as it might be at the time, won't feel so good.


    On the reverse... if a business is just messed up, highly overvalued and hyped. Honest and competent advise is to get away from it.

    Then the company strike a few lucky breaks. Which can and do happen in business... some accidents do lead to great fortunes. Read on 3M and its mines going broke before they figured the useless rocks can be turned into sandpaper dusts and grinders etc.

    Then with those luck, the market got all hyped up and its stock price heads for the stars.

    Should the analyst be faulted or credited for things no one could anticipate?

    More importantly... if you simply take people's opinions, you will never be certain WHY they might be right, WHY they might be wrong... and whether or not luck was at work; or just short term snags and market sentiment.


    So at best, take people's interests and recommendation as a starting point to look into the opportunity yourself. You then have to do the digging, the research and come to some sort of valuation on the stock/business... all by yourself.

    This way, you know the business as thoroughly as you possibly could. It then allow you to decide on your own whether mistakes were made... made by the market or by your faulty analysis... whether unexpected misfortune and market sentiment are just passing phases.

    If you don't have the time or interest to do that... probably best to buy an index.
     
    Garpal Gumnut and Triathlete like this.
  6. Triathlete

    Triathlete Keep it Simple..!

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    A smart person cannot follow another person blindly even though the other person is right, because you cannot have confidence and act on advice when you do not know what it is based on.
    You will be able to act with CONFIDENCE and make PROFITS when you can SEE and KNOW for YOURSELF why STOCKS should go UP or DOWN...

    Legendary Trader
    WD GANN
     
    luutzu likes this.
  7. luutzu

    luutzu

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    So Gann put it better. But going by word counts, and let's go with that...

    Never write a paragraph when an essay get you over the minimum word counts. That's what school taught me :D
     
  8. freebird54

    freebird54

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    Do you want to continue this thread here - I have just posted on the above to the more active investing thread

    A lot of good threads fall by the wayside
     
  9. Zaxon

    Zaxon The voice of reason

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    And here you are on Whirlpool making the exact same comment today. Perhaps you go around to all the forums, pasting the same comment.

    Capture.PNG
     
  10. philip007

    philip007

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    I wouldn't buy from the Australian Stock Report if my life depended on it.

    Checkout the parent company AMALGAMATED AUSTRALIAN INVESTMENT GROUP LIMITED ACN 140 208 288 ABN 81 140 208 288 if you download the financial report "Financial Report Financial Report - Public Company Or Disclosing Entity (FR 2018) (388A)" from https://connectonline.asic.gov.au/

    $6.47m loss in FY2018 up from $4.7m loss in FY2017 (page 7) with $8.07m in net cash outflows from operations for FY18...

    Buyer beware, you might not have access to your service/account if they fail to raise capital to keep the business afloat as stated by their accountants.
     
    SMSF123 likes this.
  11. Garpal Gumnut

    Garpal Gumnut

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    As Flann O’Brian would say in The Third Policeman “this is a most unfortunate state of affairs” and the hero aka investor would either still be gulled or move on to their own roguery.

    By my estimation this mob have moved up from destroying the wealth of the organisation from 1 million schooners of beer in a hipster suburb to a similar number in one of our posh hotels.

    The outflows are approaching pint levels.

    When will someone call “Time please ladies and gentlemen” to this medley of spending.

    gg
     
    SMSF123 and Skate like this.
  12. WorleyPar

    WorleyPar

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    i worry i put money into that company 4 years ago and everytime i ask for an update i get the run around around about how their going to list but it never seems to eventuate... get the feeling i'm going to lose all my money on this "investment"
     
    SMSF123 likes this.
  13. butterss

    butterss

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    I know it's a bit of a delayed response here, but it's important people are aware of this. Regarding the companies CFD/FX trading offering, here is my review:
    This company offers a CFD program called "ASSET" and an FX product which I will cover later. In this product they show you amazing gross returns of leveraged portfolios of stocks over the previous five years, but what they don't tell you is how much of a rip off their fees are. For example - they charge an interest fee on the entire position. This fee is 4.97% + the base rate. The base rate varies but in general you're looking at 7.5% total interest approximately. That isn't even half of it though.
    You see the interest rate is charged on the total value, and the products are leveraged. leverage ranges from 3-10 times, meaning in actual fact, interest expense alone is 22.5%-75% of your equity per annum, charged daily.
    They also have a re-balancing fee. Every 3-6 months, the "ASSET" will be adjusted. This means they change the stocks in each ASSET (up to 20 stocks). For this they charge you a percentage commission, with a minimum of $7, per stock, per trade. So if you re-balance, like they recommend, on for example a $5,000 account, the minimum cost may be up to $7*20*2 (sell current stocks buy new stocks) = $280, every quarter.
    That's 22.4% transaction fees per year just to follow the strategy.
    On the platform however, they attempt to wow you by showing you multiple hundred percent returns per anum, basically if you'd invested in the basket, with maximum leverage, and they didn't charge any fees, in some baskets you could have made a hundred+% return this year! They show you this to take advantage of peoples greed. What they don't tell you is that in reality, the transaction fees could be up to 97.5% of your equity per anum meaning you'd be lucky to break even, and the leverage means it could be 3 to 10 times more risky than buying the stocks.
    To top it all off, this company even has the balls to charge unsuspecting victims a membership fee ranging from $500-$1,497 per year (depending on the clients negotiating skills) just to access the platform!

    To all the investors in physical equities with no interest in this companies CFD "offering", I implore you to ask yourself, if a company offers the service outlined above to their paying customers (for over a year now), do they have their clients best interests at heart? Feel free to do your own fact checking, here's the link:
    https://asset.asrw.com.au/

    In terms of their foreign exchange product, they are just referring their clients to USGFX. Feel free to look at the reviews of USGFX on Forex Peace Army, because that's who you'll be trading with albeit with an extra middle man in between. Spoiler alert: they're pretty ****. One of the reviews was even flagged because it came from USGFX's main office.
     
    Porper and aus_trader like this.
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