The Seiden Strategies
Sam Seiden is back.
Fresh off his latest “get rich scam” known as The Online Trading Academy, where Sam Seiden and his cohorts admitted to a $360 million dollar fraudulent “investment school” scam, he now wants you to fork over thousands of dollars for yet another “investment school” scam.
Apparently, running investment school scams is Sam Seiden’s specialty. This latest “investment school” appears to be a hastily regurgitated version of his last scam, but with the added touches of ancient Rome.
Just when you think that things couldn’t get any nuttier in this industry…Sam Seiden arrives to prove us all wrong. Back with yet another “investment school” named The Seiden Strategies.
Avoid this whack-a-doodle.
Absolutely nothing to recommend.
Founder of Online Trading Acadamy — a known fraudulent “investment school”
The owner recently had all of his assets seized by the FTC
The owner is currently embroiled in no less than 3 class-action lawsuits alleging fraud
Thanks for reading today’s review of The Seiden Strategies.
What is The Seiden Strategies and what are they selling?
According to the website, the company is offering three levels of “investment education” that supposedly teach you how to become of full time professional trader.
The company promises to teach “low risk, high reward, and high probability trades in stocks, ETF’s, Futures, Forex, Bonds, and Options.”
The pricing comes in two tiers:
Tier One costs $6,995 for the first year and an additional $3,995 for each successive year. Tier One product is titled: “The Strategy.”
Tier Two costs $8,995 for the first year and an additional $4,995 for each successive year. Tier Two product is titled: “The Strategy Plus.”
Additionally, there is an add-on product titled: The Emperors Club which can be purchased with either of the Tier One or Tier Two products. The cost of “The Emperors Club” is $1,995 per year.
Tier One: “The Strategy”
The Strategy Membership, includes the following modules:
- The Forum
- The Exchange
- The Gallery
- The Arena
- The Options Colosseum
- The Investor Empire
- High Impacts News Sessions
- Member Council
The first module is The Forum which is a live trading room hosted mainly by Sam Seiden. During this one-hour live training session, Sam Seiden purports to offer “supply and demand analysis” and live trading recommendations.
The next module is The Exchange which begins 15 minutes prior to the stock market opening bell and purports to offer trading recommendations for “short-term and mid-term” active traders. This session usually lasts 90 minutes.
The next module is The Gallery which is a “proprietary algorithm” which supposedly offers recommendations for 25 markets.
The next module is The Arena which is described as a live trading room where traders can talk to each other and share ideas.
The next module is The Options Colosseum which is described as a “secretive strategy” that reveals supply and demand imbalances where investors can profit. The Options Colosseum occurs twice a week, and last one hour in duration.
The next module is The Investor Empire which supposedly helps people meet their lifetime retirement needs through personalized recommendations. This includes the Life Strategy Assessment, Strategic Return Portfolio, and the Bond Forecast.
The next module is Impact News Sessions which gives access to a private Twitter account where Mr. Sam Seiden opines on world events so that you can adjust your investments accordingly.
The final module is the Member Council where members can live chat, email, or talk to a friendly investment counselor about their investment problems.
According to FINRA, the SEC, and the CFTC….none of the individuals running this company are registered to counsel investors in any capacity.
Tier Two: The Strategy Plus
The difference between Tier One and Tier Two is only a single module.
The missing module is something titled: The Strategy Plus.
The Strategy Plus expands the live market coverage from 25 markets to 50 markets.
For this small expansion in market coverage, the cost dramatically increases, yet there is no clear reason why.
The Emperors Club
If you purchase either of the Tier One or Tier Two memberships, then you are also eligible to purchase The Emperors Club.
What do you receive to become part of the so-called club for Emperors? The website is not very clear. It claims you receive “priority enrollment and seating for live events” and “break out sessions” and something called “the brain trust.”
Additionally, there is some other mumbo-jumbo about “crossing cultural barriers” and new-age fancy-sounding terms with little actual meaning.
It appears to be the classic upsell.
The Seiden Strategies Performance Results
The Seiden Strategies does have a publicly viewable performance page.
This performance page includes only the prior four months of trading recommendations and supposed performance.
The performance page for October 2020 is included below…
However, I have found the performance pages to be of little to no value.
The performance pages include little to no specificity as to what was actually being traded. What were the actual wins and losses? How about the drawdown? And what about the margin requirement?
Are they trading South Korean rice bowl futures? Or perhaps Peruvian alpaca fir futures? No mention whatsoever.
This appears to be little more than a convoluted mish-mash of “happy talk” where retail newbies can allow their naive imaginations to drift towards a 10:1 risk to profit happening with 50% of the trades.
Folks, if you think that 10:1 risk to profit with 50% winning trades is possible over the long term…then I have a tower in Paris that you can buy on the cheap.
Additionally, for all of the four months of listed performance pages, there is no talk about drawdowns or account size, or even position sizing.
Sure, it’s wonderful to claim a win percentage of 85%, but what if the average win is $1 and the average loss is $200? In short, a win/loss percentage is the stuff of newbies, wannabes, and daydreamers.
Professional traders need actual performance metrics, which includes time stamps of trades, the securities being traded, a way to audit the actual results, and of course the commission paid. None of this is included.
In short, these performance summaries are pig excrement.
Is this performance even real?
According to the mountain of disclosures, which is a 9266 word legal tome, you are basically acknowledging that The Seiden Strategies cannot be held liable for anything. And I mean everything. It’s one of the most airtight legal disclaimers that I have ever had the displeasure of reading.
It appears to be written by a team of expensive lawyers with only one intent…to waylay all liability to the sucker foolish enough to actually sign such a document.
And hidden like a needle in this proverbial legal haystack…the company is quite clear in describing that “performance is hypothetical.”
In fact, the company goes to great lengths in their disclaimer documents referencing hypothetical performance in an incredible 13 instances. A new world record.
I have never seen such a disclaimer in my 6 years of reviewing these so-called investment educators to witness the lengths this company has gone to describe performance as “hypothetical.”
This worries the fuck out of me. But these hypothetical performance summaries are the least of the things you should be worried about. Why?
Does the name Sam Seiden sound familiar?
If not, well you must not read many of the articles on TradingSchools.Org. In fact, we have written two articles regarding Sam Seiden and his prior company — The Online Trading Academy.
Its all so painful to read.
You can read article one here.
You can read article two here.
This is the same Sam Seiden that is currently embroiled in no less than three class-action lawsuits alleging fraud related to his last “investment school.” (Online Trading Academy)
Additionally, Sam Seiden just signed (September 15, 2020) a settlement with the Federal Trade Commission agreeing that Online Trading Academy was a fraud.
How big of a fraud? Not your garden variety. More like the Farmer’s Market variety where there were thousands of consumers across the United States were scammed out of $362 million dollars.
In fact, Sam and his cohorts had their personal assets frozen and had to surrender $8.3 million, a Cessna 400 airplane, a 2006 Bentley Mulsanne, a luxury motor home, a Cadillac Escalade, and six minivans.
Six minivans? Who in the fuck has six minivans? That’s just weird. That’s a minivan fetish.
Everything is currently waiting to be sold at auction and the proceeds will be refunded to the students. Though I doubt they will be able to recover anywhere close to the $362 million that was swindled from the students.
Federal Trade Commission Smackdown
Its not very often where the Federal Trade Commission will come right out and call something an outrageous fraud. Yet, this is exactly what they called Sam Seiden and his cohorts…
“OTA pitched a get-rich-quick investment strategy using fake or unrepresentative testimonials, depictions of wealth, and implied promises of profits,” and “Online Trading Academy had no support for its lavish earnings claims, and that’s illegal.”Andrew Smith, the Director of the FTC’s Bureau of Consumer Protection.
Well, with Online Trading Academy in the rear view mirror, it appears that Sam Seiden has quickly thrown together what appears to be Online Trading Academy 2.0.
And it also appears that The Seiden Strategies is being staffed by the same hucksters that were running Online Trading Academy.
For instance, on the About Us webpage at The Seiden Strategies, you can see the happy faces of Sam Seiden and Jasmine Wang.
Of course, we all know Sam Seiden, but most do not know Jasmine Wang.
However, if you read the Federal Trade Commissions lawsuit against Sam Seiden and Online Trading Academy, then you would have also seen the name of Jasmine Wang.
According to the Federal Trade Commission, Jasmine Wang was used as a student prop to sell the expensive educational program. Apparently, Mr. Seiden and his sales staff claimed that “Jasmine is a successful student who turned $12k into $128k in only 9 months!”
However, according to the FTC, this was not verified. Nor were prospective consumers aware that Jasmine Wang was actually an employee of the company. (Page 3, paragraph 3 of the FTC lawsuit)
Additionally, The Seiden Strategies also lists additional instructor names of Steve Moses, Bill Nelson, and Brandon Tristan.
If you simply Google search each of these instructor names and append Online Trading Academy, this will quickly reveal that each were sales counselors with Online Trading Academy.
Not a good look. Especially considering that the FTC found no proof that any of the instructors had ever traded successfully. Or owned the yachts, fancy sports cars, or owned mansions, or kids went to private academies or any of the other bullshit they told consumers during the course of the sales presentations.
Student success at The Seiden Strategies?
Are the students successful at The Seiden Strategies so-called investment university? Once again, I would be very suspicious of any claims made by Mr. Sam Sieden.
According to the FTC, the trading accounts of Sam Seiden and his 4,799 students accounts were audited and examined for performance. The results were pathetic.
Of these accounts, which were primarily with TradeStation Securities, it was discovered that 75% of the trading accounts lost an average of 94%. Let that sink in.
Some folks lost everything. And I mean everything. Which included multiple bankruptcies.
Wrapping things up
I find it really incredible that just a few short months ago, Mr. Seiden agrees to the settlement with the Federal Trade Commission and yet…here we are again.
On the other hand, I totally get it. Scamming folks with “get rich glory” is all Sam Seiden appears to know. The dude has been pulling this BS since the late 1990s — What else is he going to do?
Its truly pathetic. Thanks for reading.