• Report: #1118377

Complaint Review: Ian Cooper from Market Authority

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  • Submitted: Sat, January 25, 2014
  • Updated: Sat, January 25, 2014

  • Reported By: jerogers — Bad Vilbel Alabama
Ian Cooper from Market Authority
901 Rio Grande NW Suite D220A Albequerque, New Mexico USA

Ian Cooper from Market Authority Speed Retirement System Beware of Speed Retirement System by Ian L. Cooper! Albequerque New Mexico

*REBUTTAL Individual responds: track record

*REBUTTAL Individual responds: Hi… it's Ian

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I purchased a membership to Ian Cooper's Speed Retirement System in January 2013. I opened a brokerage account to follow his trade recommendations in trading options. He charged my $297 per quarter for his advice. He claims to be able to make you enough money to be able to retire in 5 years. I was willing to give it up to 12 years. By August, my account was sitting at only $6000. I complained to Market Authority, the company that Ian works for, and they gave me 3 free months. They billed me erroneously during that time, but they did rectify their error by extending my membership. I would routinely participate in Ian's webinars and I would ask questions, both critical and supportive ones. Whenever I submitted a concern via Market Authority's customer support web portal, I never got an answer from Ian himself, just a glib "Ian has confidence in all open positions" reply. As of the close of the market Friday, and after 13 months with Speed Retirement System, my account is sitting at $4800. This means I have lost a good chunk of my hard-earned money, gone forever no doubt. During one of his recent webinars, I mentioned, and Ian read out that my account was seriously down. He said he wanted to chat with me about it, because he couldn't understand how this could be. He claims to have a rate of return over the same period of over 400%! I sent him an email offering to phone him or to show him a spreadsheet of all of my trades. I even couched it in "please just help me to understand what I am doing wrong" language, but I have heard nothing to date.

Beware! The "speed retirement" is Ian's not yours if you buy this product! I can verify my situation for anyone who cares to ask.

 Jim R

Frankfurt, Germany


This report was posted on Ripoff Report on 01/25/2014 09:51 AM and is a permanent record located here: http://www.ripoffreport.com/r/Ian-Cooper-from-Market-Authority/Albequerque-New-Mexico-87104/Ian-Cooper-from-Market-Authority-Speed-Retirement-System-Beware-of-Speed-Retirement-Syste-1118377. 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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REBUTTALS & REPLIES:
0Author 0Consumer 2Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Individual responds

track record

AUTHOR: Ian - ()

That last image isn't showing correctly.  Here it is again.

This is my track record from January 2014 to March 7, 2014.  

 

Crocs Inc. (CROX) March 2014 16 puts 58% exited half
Crocs Inc. (CROX) March 2014 16 puts 74% exited half
Annaly Capital (NLY) April 2014 10 calls 33% exied half
Plug Power (PLUG) March 2014 2.50 puts 67% exited half
Annaly Capital (NLY) April 2014 10 calls 75% exited half
Lululemon (LULU) June 2014 45 puts 37% exited half
JC Penney (JCP) February 2014 7 put 56% exited half
JC Penney (JCP) February 2014 7 put 44% exited half
Lululemon (LULU) June 2014 45 puts 37% exited half
3D Systems (DDD) March 2014 69 calls 23% exited half
3D Systems (DDD) May 2014 70 calls 19% exited half
3D Systems (DDD) March 2014 70 calls 52% exited half
Lululemon (LULU) June 2014 50 calls 43% exited half
Lululemon (LULU) June 2014 50 calls 59% exited half
3D Systems (DDD) March 2014 69 calls 125% exited half
3D Systems (DDD) May 2014 70 calls 64% exited half
3D Systems (DDD) March 2014 70 calls 143% exited half
Twitter (TWTR) February 2014 38 puts -97%  
3D Systems (DDD) March 2014 75 calls 101% exited half
Whole Foods Market (WFM) May 2014 52.50 calls 38% exited half
3D Systems (DDD) March 2014 75 calls 33% exited half
JC Penney (JCP) May 2014 5 calls 68% exited half
JC Penney (JCP) May 2014 5 calls 61% exited half
Whole Foods Market (WFM) May 2014 52.50 calls 58% exited half
Plug Power (PLUG) March 2014 4 calls 68% exited half
Plug Power (PLUG) March 2014 4 calls 173% exited half
Plug Power (PLUG) March 2014 2.50 puts -- 1st half exited for gains.  -83% exited half
3D Systems (DDD) March 2014 70 puts 36%  
3D Systems (DDD) March 2014 73 puts 62%  
Plug Power (PLUG) May 2014 7 calls 88% exited half
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#2 REBUTTAL Individual responds

Hi… it's Ian

AUTHOR: Ian - ()

Hi... This is Ian Cooper from Speed Retirement. 

I'm a bit confused by Jim's comments above.  On our live webinars, I would speak to Jim often... and would ask that he send in a copy of his portfolio so that I could review it, and then review it with him.  I never received it.

As for my poor performance in Speed Retirement, here's how I did in 2013 and so far in 2014.

In 2013, I closed 181 winners (some winners were closed in halves).  I closed a total of 32 losers.

So far, in 2014, I closed 31 winners (some were closed in halves).  I've closed 8 losers.

Crocs Inc. (CROX) March 2014 16 puts CROX140322P00016000 01/03/14  $0.95 01/14/14  $1.50 58% exited half
Crocs Inc. (CROX) March 2014 16 puts CROX140322P00016000 01/03/14  $0.95 01/24/14  $1.65 74% exited half
Annaly Capital (NLY) April 2014 10 calls NLY140419C00010000 11/25/13  $0.60 01/24/14  $0.80 33% exied half
Plug Power (PLUG) March 2014 2.50 puts PLUG140322P00002500 01/08/14  $0.30 01/27/14  $0.50 67% exited half
Annaly Capital (NLY) April 2014 10 calls NLY140419C00010000 11/25/13  $0.60 02/03/14  $1.05 75% exited half
Lululemon (LULU) June 2014 45 puts LULU140621P00045000 01/23/14  $3.35 02/03/14  $4.60 37% exited half
JC Penney (JCP) February 2014 7 put JCP140222P00007000 10/15/13  $1.35 02/04/14  $2.10 56% exited half
JC Penney (JCP) February 2014 7 put JCP140222P00007000 10/15/13  $1.35 02/05/14  $1.95 44% exited half
Lululemon (LULU) June 2014 45 puts LULU140621P00045000 01/23/14  $3.35 02/05/14  $4.60 37% exited half
3D Systems (DDD) March 2014 69 calls DDD140307C00069000 02/06/14  $3.25 02/10/14  $4.00 23% exited half
3D Systems (DDD) May 2014 70 calls DDD140517C00070000 02/06/14  $5.90 02/10/14  $7.00 19% exited half
3D Systems (DDD) March 2014 70 calls DDD140322C00070000 02/07/14  $3.00 02/10/14  $4.55 52% exited half
Lululemon (LULU) June 2014 50 calls LULU140621C00050000 01/23/14  $3.15 02/12/14  $4.50 43% exited half
Lululemon (LULU) June 2014 50 calls LULU140621C00050000 01/23/14  $3.15 02/13/14  $5.00 59% exited half
3D Systems (DDD) March 2014 69 calls DDD140307C00069000 02/06/14  $3.25 02/14/14  $7.30 125% exited half
3D Systems (DDD) May 2014 70 calls DDD140517C00070000 02/06/14  $5.90 02/14/14  $9.70 64% exited half
3D Systems (DDD) March 2014 70 calls DDD140322C00070000 02/07/14  $3.00 02/14/14  $7.30 143% exited half
Twitter (TWTR) February 2014 38 puts TWTR140222P00038000 11/19/13  $3.75 02/21/14  $0.10 -97%  
3D Systems (DDD) March 2014 75 calls DDD140322C00075000 02/14/14  $4.70 02/21/14  $9.45 101% exited half
Whole Foods Market (WFM) May 2014 52.50 calls WFM140517C00052500 02/13/14  $2.25 02/21/14  $3.10 38% exited half
3D Systems (DDD) March 2014 75 calls DDD140322C00075000 02/14/14  $4.70 02/24/14  $6.25 33% exited half
JC Penney (JCP) May 2014 5 calls JCP140517C00005000 01/30/14  $1.55 02/27/14  $2.60 68% exited half
JC Penney (JCP) May 2014 5 calls JCP140517C00005000 01/30/14  $1.55 02/28/14  $2.50 61% exited half
Whole Foods Market (WFM) May 2014 52.50 calls WFM140517C00052500 02/13/14  $2.25 02/28/14  $3.55 58% exited half
Plug Power (PLUG) March 2014 4 calls PLUG140322C00004000 01/08/14  $1.10 03/03/14  $1.85 68% exited half
Plug Power (PLUG) March 2014 4 calls PLUG140322C00004000 01/08/14  $1.10 03/04/14  $3.00 173% exited half
Plug Power (PLUG) March 2014 2.50 puts -- 1st half exited for gains.  PLUG140322P00002500 01/08/14  $0.30 03/04/14  $0.05 -83% exited half
3D Systems (DDD) March 2014 70 puts DDDO28144700000 02/14/14  $4.15 03/07/14  $5.65 36%  
3D Systems (DDD) March 2014 73 puts DDDO28144730000 02/14/14  $4.85 03/07/14  $7.85 62%  
Plug Power (PLUG) May 2014 7 calls PLUG140517C00007000 03/04/14  $1.20 03/07/14  $2.25 88% exited half

 

 

 

 

 

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