For nearly the past 40 years, Jake Bernstein has been hustling audiences into purchasing a myriad of trading educational products and services. He is the supreme grandfather of futures trading hucksterism. He is a carnival barker that just won’t quit. With nearly unlimited flavored financial snake oils, he has successfully hustled multiple generations into believing he is a financial genius.
He is not.
In fact, he is an NFA convicted fraudster forced to pay hundreds of thousands of dollars in fines and penalties.
He projects himself a master trader. He is not.
In fact, an audit conducted by the CFTC concluded that Jake Bernstein never made a penny at Futures trading. His only hallmark is being a multi-year net loser.
Avoid this carnival barker.
Thanks for reading today’s review of Jake Bernstein
Who is Jake Bernstein, and what is he selling? Jake Bernstein is the ‘elder statesman’ of the investment education genre. He is a sprightly 72-year-old man with a quick wit, a fast tongue, and a permanent pulpit at the infamous investment circus known as The Money Show and Traders Expo.
Jake has been upheld and uplifted as a premier financial guru at these outrageous financial carnivals since their very inception. Nobody has appeared as often as Jake Bernstein. They march his little body with shaggy hair onto the stage before hundreds of ‘financially hungry’ attendees that desperately crave his tidbits of financial wisdom.
Like a pinata salesman, he tosses candied financial snacks into the crowd. Words fly from his mouth like, “Bitcoin will change the world” and “the triple top and Hindenburg pattern is about to rock your world!”
On and on he rattles off what sounds like sage financial advice. But mixed with a heavy dose of carnival barker hucksterism.
Each morsel of information is just an appetizer that is contained within ‘Jakes Miracle Buffett of Financial Advice’. Every word, every hand gesture, every little dance and shake of his hips and wild hair is gently enticing the audience to purchase a ticket to ‘Jakes Miracle Buffett of Financial Advice’.
Jake Bernstein’s Miracle Buffett of Financial Advice
Jake sells everything.
Have a problem trading egg and cheese Futures? Jakes got a book, course, DVD, VHS tape, or eLearning material that covers it!
Curious where the price of XYZ stock will be 65 years? No problem! Just sign up for Jake’s Seasonal Strategies that pinpoints the exact price in which your grandchildren can expect to exit the trade for miraculous profits.
Need to know where the price of crude oil Futures will be in the next 13 seconds? You are in luck! Jakes has written 5 books and 12 courses on how to ‘micro scalp’ for ‘massive daily profits.’
In fact, to list all of Jake Bernstein’s products and services is an exercise in redundancy. He has written over 40 books since the 1970’s. He has sold dozens of trading systems. With names like Bond Buster, Currency Crusher, 4X Profit Smasher, Cat Scratcher, Trend Grabber, The Midget, and Moon Secrets. Prices range from just a few bucks to thousands of dollars per trading system.
The poorest street beggar can afford Jakes book, “How to panhandle for maximum profits.”
Even world political leaders are not ignored in Jakes seminal book, “Best times of the day to rob the populace.”
Most importantly, don’t forget to finalize your purchase with Jake Bernstein’s “2Fer” cash card. Really, he actually has a cash card with a rewards program for bulk purchasers of his snake oil.
Of course, maybe Jakes books, courses, DVD’s and whatnot is not personal enough.
Maybe you need a little extra hand-holding. Maybe you need that extra stroke of Jakes Financial genius to reach orgasmic levels of financial success? No worries. Jake has a special mentoring program just for you. For a price, Jake will even stroke you to financial climax.
Jake Bernstein Mentoring Program: the Olympics of Stupidity
I was certainly interested in Jake’s mentoring program. So I signed up as an interested party. What happened next can only be described as the Olympics of Stupidity.
The first step down the primrose path was my contact with a person named Marylynn Kenny. She proceeded to ask a series of questions to ascertain my overall financial health, and whether I would be a good candidate to move towards Round 2 of the “difficult and highly selective process.”
She wanted me to know that to even be considered for such a prestigious mentoring program, that I should be extremely thankful.
She wanted to make sure that I was a good candidate. That I had “the chops” to interact with such a financial genius: Jake Bernstein. Most importantly, she wanted to know if I had, “the chops.”
I begged and pleaded my case, I had “the chops.” I so desperately wanted admission to the ‘inner circle’ where the paragon of financial wizardry would bestow upon me all of his financial magic tricks.
She asked me, “Do you have any experience as an investor?” I replied I have none. That I know nothing. But I just got an inheritance from a rich Aunt and I was clueless about what to do next.
She quickly replied, “You are a perfect candidate. Congratulations. You are now being referred to Round 2 of the private mentoring selection process.” I was incredibly relieved.
Olympics of Stupidity: Round 2
For Round 2 of the selection process, I was sent to one of the Wizards apprentices, a guy named Jeff Lane (the closer). He described himself as a true disciple of Jake Bernstein. How Jake had changed his life and that he was living all of his wildest dreams of unlimited shrimp cocktail and financial freedom.
Jeff then subjected to me a brutal round of intense questioning. His most important question, “What do you do for a living?” I replied that I was a professional bingo player. And that I was one world’s top-ranked bingo players.
He seemed impressed and next informed me that I indeed was an excellent candidate for the private mentoring program. He next needed my credit card number to process the $10k fee.
I next asked one last question…does Jake Bernstein has a verifiable track record of ever trading successfully?
What happened next can best be described as an angry trip across a verbal slip-n-slide. Never in all my life had I heard so much nonsense and so many reasons why Jake Bernstein could not show me a verifiable record of trading performance.
And for good reason.
Jake Bernstein, as per the Commodities Futures Trading Commission
You would think that a man, whom for the past 50 years has proclaimed himself some sort of financial genius, would be able to show a crumb of trading success. You would think.
Buy maybe Jake Bernstein has no record of ever trading successfully. Maybe he only has a record of being a loser? According to the National Futures Association and the CFTC, Jake Bernstein is no financial genius. In fact, he is a fraud.
According to National Futures Association and the CFTC, Jake Bernstein has now been personally fined $200k in fraudulent misrepresentations and an additional $200k in company misrepresentations.
During the month of June 2018, I contacted the NFA and requested records of Jake Bernstein and spoke with an NFA representative. They explained, “We are well aware of Mr. Bernstein. Persons interested in whatever he is selling should read our extensive report and findings.”
In fact, the National Futures Association prepared a report and recommended that I include the report, with my review of Jake Bernstein. Have a peek below…JakeBernstein
As you can read, this is ugly stuff. When the regulatory bodies charge you will fraud on multiple counts, any potential investor should take great care before making any sort of investment in Jake’s myriad of financial products and services.
Wrapping things up
I have to thank the National Futures Association for helping me gather all of the evidence for this review. Sometimes it is very difficult finding the truth. The NFA report was pretty bland, but I believe it tells enough of the story where we can authoritatively conclude that Jake Bernstein is a snake oil salesman.
Probably the most damning piece of evidence that the NFA shared were the results of a multi-year audit of the Futures account statements of Jake Bernstein.
It turns out that Jake Bernstein is a terrible trader. During an exhaustive audit of all of his Futures account statements, over a continuous 6-year period…Jake Bernstein was a net loser, each and every year.
The NFA also shared with me a promotional video that Jake Bernstein produced, in which he hired paid actors to proclaim that “they had achieved financial freedom, and that Jake had delivered 90% winning trades.” You can read about that investigation here.
That’s enough for today. Thanks for reading. And if you have had any experience with Jake Bernstein, would love to know your opinion.