- Report: #298202
Report - Rebuttal - Arbitrate
Complaint Review: Chuck Hughes Inner Circle, Chuck Hughes, Profit Partners Inc., Profit Enterprises Inc.
Chuck Hughes Inner Circle, Chuck Hughes, Profit Partners Inc., Profit Enterprises Inc.www.chuckhughes.com www.failsafenow.com Nationwide U.S.A.
Chuck Hughes Inner Circle, Chuck Hughes Chuck Hughes Inner Circle, Chuck Hughes, Profit Partners Inc., Profit Enterprises Inc. Bogus "Guarantee" for Valuable Investment Advise REQUIRES to invest in losing stock and options positions! Internet Internet
*General Comment: Comments on "pump-and-dump" marketing
*Consumer Comment: Chuck Hughes offer jan, 2012
*Consumer Suggestion: Advisory or Learning or Rip off
*Consumer Comment: Do You Really Want To Help Others To Make Money?!
*REBUTTAL Individual responds: The San Diego businessman with Possible Help visited the offices of Profit Enterprises Inc which sold memberships in Forex trading programs.
*REBUTTAL Owner of company: I agree with Joe S. that if you are looking to purchase a trading program, ask for an actual trading track record before you buy.
*REBUTTAL Owner of company: Chuck Hughes knows better
*REBUTTAL Individual responds: Jim has a valid complaint with my former sales company Profit Partners Inc
*Consumer Suggestion: possible help
Chuck Hughes recommends trading in positions of approximately $10K each.
Joshua was emphatic that I jump on the "seasonal trades" which was supposedly "hot" - so I purchased 10 X S&P 500 Jan 08 145 call - SFBAO
- recommended entry $12.75 (10 X 100 X 12.75 = $12750.00). I was able to enter this position at only $10.35 ($10367.95 inc commission) so I thought I was ahead! That is, before it tanked! - 12/06/2007 I sold at $8.25 ($8232.38 inc commission) for a loss of $$2135.57 on this one position. Note - Today 01/08/2008 Chuck Hughes continues to sit on this position for a loss of $9K! This is absurd! - There is no stop-loss set with this trading strategy - this is asinine.
I paper-traded his other recommendations in October, November and December 2007 All were losses!
In the beginning of December 2007 I asked for a refund. I certainly will not continue to throw good money after bad every recommendation had tanked - and I have no longer any confidence in any advice from Chuck Hughes Inner Circle. Joshua had given me a verbal guarantee over the telephone. Now I learned that this guarantee was worthless. Whatever these people tell you do not believe it. They will lie just to make a sale; they have no concern over your welfare. Their purpose in life is to sell you a subscription to their investment advise with a bogus guarantee that requires you to continue to follow their poor advice for 12 months before they will issue a refund. If you do not actually participate in the market and experience real losses, they will not honor their written refund!
I say Beware. Do not fall for the scam that I fell for. Do not believe what Joshua, Nathan, Linda and others at Chuck Hughes tell you. Don't waste your money.
Watch out for these scoundrels.
You would be better off throwing darts at the paper and choosing stocks that way.
Grants Pass, Oregon
This report was posted on Ripoff Report on 01/08/2008 04:53 PM and is a permanent record located here: http://www.ripoffreport.com/r/Chuck-Hughes-Inner-Circle-Chuck-Hughes-Profit-Partners-Inc-Profit-Enterprises-Inc/nationwide/Chuck-Hughes-Inner-Circle-Chuck-Hughes-Chuck-Hughes-Inner-Circle-Chuck-Hughes-Profit-Pa-298202. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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