• Report: #395575

Complaint Review: William J. O'Neil

  • Submitted: Thu, November 27, 2008
  • Updated: Thu, November 27, 2008

  • Reported By:coral springs Florida
William J. O'Neil
12655 Beatrice Street Los Angeles, California U.S.A.

William J. O'Neil A Waste of Money! Los Angeles California

*UPDATE EX-employee responds: You Must Not Get Out Much

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I bought this paper to get a little more news about investments. The first problem with the paper is it is very expensive. It is three dollars for the weekend edition and two dollars for a regular paper. Also, it is hard to find unlike the Wall Street Journal which is sold just about everywhere. Keep in mind unlike the Wall Stree Journal (WSJ), IBD only has two parts to its paper yet charges considerably more.
The paper uses computerized modeling to suggest which stocks have the most mommentum and according to theory are most likely to continue to go up. Bascially it uses a type of technical analysis. I do not know of anyone who has ever gotten wealthy from technical analysis of stocks. In fact, if you were to look at some of the wealthiest stock investors such as Warren Buffet, Peter Lynch, George Soros, etc. they all did it through value investing.
In addition to that the paper is a marketing piece for William O'Neil and company. He offers investments seminars that run as high as nearly $10,000 per seminar. So the paper is not so much reporting about investment news as it is about selling William O'Neil's investment philosophy.
Perhaps the most disturbing part of the paper is that there are a lot of politics in the paper. And make no mistake about it, IBD does not even pretend to be balanced! The paper devotes several pages to politics and "opinion" which basically amounts to a daily Democratic bashing while praising Republicans no matter what happened. In the newspaper I read they praised George W. Bush's ideal for the Iraq War and his handling of it. Perhaps they did not read that almost 80% of Americans are against the War and wanted it to end.
Apparently, Mr. O'Neil is so extreme in his right-wing views that he does not believe global warming even exists, and there was an article in IBD that stated that global warming was good. The paper bashes Obama daily even though he is not in office and won the election quite handily. What is disturbing is that this is supposed to be an investment newspaper, not a political piece. If one wanted to hear a daily Democratic bashing they could turn on Fox News and save the three dollars to buy the paper.
I notice that the circulation is down substantially from just a few years ago, unlike the WSJ which has increased its circulation. Unless you want to hear a daily Democratic bashing in your Investment newspaper, and want to read about Mr. O'Neil's expensive investment seminars, I would pass on IBD and buy the Wall Street Journal!

Tj
coral springs, Florida
U.S.A.

This report was posted on Ripoff Report on 11/27/2008 11:46 AM and is a permanent record located here: http://www.ripoffreport.com/r/William-J-ONeil/Los-Angeles-California-90066/William-J-ONeil-A-Waste-of-Money-Los-Angeles-California-395575. 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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#1 UPDATE EX-employee responds

You Must Not Get Out Much

AUTHOR: Jeff - ()

RE: I do not know of anyone who has ever gotten wealthy from technical analysis of stocks.

I know plenty, including myself.  I worked for Bill for five years beginning 1983 as an institutional salesman.  When you work for Bill, you learn his methodology in great detail. I witnessed personally nearly every employee there making money in their own trading accounts, all using his methodology. Most of my institutional clients referred to his material as "invaluable". In my opinion, the only way to pick stocks is by using technical analysis combined with some minor fundamentals.  I watched David Ryan get rich, along with several other institutional sales people.  I don't know how much Bill charges for his materials these days, but spending a thousand dollars or more in a year is dirt cheap. 

Thanks to what I learned working for Bill and others, I retired after 20 years in the business at the ripe old age of forty and am doing things most people dream about.  So I am sorry, but you will never get me to believe that Bill is selling something that does not work.

So, go on reading the Wall Street Journal and losing money, or you can pay a little more and have the next great stock right in front of your face.

By the way, I won the United States Trading Championship, a four month real money contest with 125% increase in my personal account while I was there.  So if you can't put in the time or money to learn the methods, don't blame Bill.



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