Why I Created This Blog? And A Warning.
In 2013, the movie The Wolf Of Wall Street was released. I was very disappointed at the way that Hollywood had glorified the fraud. I am sure that many of you reading this have seen the movie. The story is about Jordan Belfort, the operator of a brokerage that specialized in penny stock promotion. The name of that firm was Oakmont Stratton, and they operated back in the 1990’s. During the 1990’s, there was no internet to market penny stocks, there were only boiler rooms. What is a boiler room? The name is actually a misnomer. In reality, its an office with lots of chairs and desks and phones, it looks just like any other office. The people working inside these “boiler rooms” looked just like you and me. There was no screaming or shouting, or boiling of any kind. The people that worked in these offices, selling these securities, were by no means exciting or particularly manipulative. They were average looking, average sounding, and of average intelligence people who would either make outbound phone calls to prospective investors or answer incoming phone calls from outbound mail campaigns. Somehow the name “boiler room” came about. The name “boiler room” sounds interesting, and it conjures lots of different imagery. Anyway, back to Jordan Belfort, Oakmont Stratton, and The Wolf Of Wall Street.
During the 1990’s, through Jordan’s boiler room operation operating out of Long Island, New York, his firm sold approximately 200 million dollars in basically worthless penny stock, pink sheet securities. The movie portrayed Jordan as some sort of Wall Street party boy that indulged in drugs, hard partying and prostitution. All of this is basically true, however Hollywood failed to mention that Jordan Belfort and Oakmont Stratton were just the tip of the ice berg. The biggest players still lay submerged, just below the surface, and some of these players operated out of Los Angeles and San Diego, Ca. I am one of those players.
Who is Emmett Moore, and what does this have to do with Jordan Belfort?
My name is Emmett Moore. In 1987, I was a 19 year old kid with no upper education, no money, and was working as a dishwasher at Sea World in San Diego Ca. This was my first job. My second job was as a cold caller for a stock broker named Robert Cohen. My job was to pick up a phone, dial a phone number from a list, and then read a script. The script was to congratulate the person on the other end of the phone, and tell them that they had been selected to participate in a private stock offering, and that this stock could make them very rich in a very short period of time. If the person sounded interested, I would proceed to ask a series of questions, if they still sounded interested, I would then transfer the call to Robert in hopes that the person would purchase $1,000 in penny stocks. Mostly folks said no, sometimes someone would say yes.
Working in a telephone sales office, making phone calls for 8 hours each day, and being rejected 99.9% of the time is probably the worst and most boring work that a person could endure. The pay was minimum wage, which I believe at that time was $4.35 per hour. I spent three years working for the firm Cohen and Jantzen, and during those first three years of non stop cold calling, I am quite sure that I annoyed a majority of the US population with my non stop pitches of penny stock companies. I knew these companies were bullshit, and that the investor had little to no chance of success. But at the time, I just didn’t give a damn, I was a young man alternating between sleeping on couches, and in cars. It was a miserable existence. However, little did I know that these three years of cold calling prospects would actually set the foundation what lay ahead.
The Irish Years
In 1990, another miserable coworker from Cohen and Jantzen approached me and said that he had been invited to a private dinner at an area hotel. The host was a guy named Nick, and that he wanted to speak as a group to as many of us low level cold callers as possible about a unique opportunity. I remember the evening of the presentation, I walked up to the conference area and parked outside was a bright red Ferrari Testarosa. People were milling about, staring wild eyed at this car. Within the group of people was a middle aged man, dressed in a Armani suit and wearing a Rolex watch. The suit had a bright silver, almost glowing sheen. The Rolex was a massive pure gold watch that was crusted with diamonds and rubies. I remember shaking Nick’s hand and staring at him. Success, wealth, and power just popped off in abundance from this man. Nick spoke with a heavy accent from Boston. He was not from around my area. But I wanted to be just like Nick.
During the dinner, Nick gave us a presentation about what he did, and what he was looking for from us. Nick explained that he worked with a group of successful businessman in Boston and that they were looking to open a sales office in San Diego, Ca. He explained that currently, he was raising money from private investors and that the money would be used to build out wireless television stations in markets around the United States. Investors would receive pre public, private shares of stock in each market. Once the minimum thresh hold of money was raised, then he would purchase a publicly listed company, AKA a penny stock company, and then reverse merger the stock with the pre public investors.
Nick showed us the life cycle of the client. The client would purchase a block of shares in a company that was not listed, nor had any assets or revenues. The client was purchasing projected revenue in a company that did not even exist. But the story of wireless television was sexy and exotic. He then showed that when early investors shares were reverse merged with the public company, the investors immediately reaped massive paper gains in a “public” company. Theoretically, Nick was correct. However the reality is that even though you own $1,000,000 in public company shares, you still needed to find a buyer for your shares, of course there were no buyers. But at the time, I did not understand how all of this played out. And admittedly, the only thing I could think of was how I was going to get involved in this and get my own Ferrari and diamond encrusted rolex.
Making Money And Then Getting Fired
Nick opened a sales office in San Diego. The office was spacious, well furnished, and a place that anyone would be proud to work from. The view looked out over the city, the front desk was staffed with a beautiful secretary, and the place screamed of legitimacy. For the next three years, I worked basically non stop, cold calling sometimes 14 straight hours. Even Saturday and Sunday. Arriving at 5am to begin calling prospective investors on the east coast. For the first year, I sold pre public stock in 20 different cities for wireless network build outs. The next year, I sold pre public stock in the conversion of SMR or Specialized Mobile Radio to a new a technology called cellular telephones. My commission rate for each sale was 20%. For the next three years, I personally sold over $20,000,000 to investors all over the US and Canada. I remember one sales call in particular, with a cold call, I talked a home developer in central California to immediately bank wire me $100,000 on nothing more than a phone call. He had no paperwork in hand, and prior to the telephone call had never met me or heard of my company. I remember hanging up the phone, after receiving the confirmation of the bank wire, and thinking to myself how crazy this was. I thought I was some sort of super hero. The entire office of salespeople could hardly believe that I had conned this poor guy out of $100k with only a phone call.
The success and money went to my head. At some point, while high on cocaine, I got into a nasty argument with Nick. He fired me.
A week later, I got a call from a another man with a deep Boston accent. He explained that he was Nick’s boss, and that he wanted me to fly to meet with him in Boston. It was January and it was very cold, there were no leaves on the trees, the city was a gray and miserable place. Whom would want to live in such a miserable place? Well, it turns out that the man that wanted to meet with me was actually part of an organized group of men from the area. These men did lots of things, none of them legal. I remember meeting with the group of men and thinking to myself, what do these men have to do with the clean and handsome Nick in San Diego? If you have noticed that I am not using the last name of Nick, nor I am using the names of the men in Boston, it is because I fear for my safety. But that is another story to be told, and lets stay on subject.
I Became Nick In Los Angeles
The Boston people sent me to Los Angeles. I was instructed that they would pay for the opening of a sales office, all office furniture, a 200 line telephone system, a operating budget, and a list of three deals to market. My job was the formation and creation of the entire Los Angeles sales operation. I followed the same sales model as Nick. I dressed in flashy clothes, drove a flashy car, and poached cold callers from area stock brokers. I simply copied Nick in San Diego, Ca. I don’t remember how much this office sold, but it was a lot. And my take was 15% of the gross sales of the entire office.
And Now Orange County
Between San Diego and Los Angeles is Orange County. I next opened an office in Orange County. Each office sold something different. The Los Angeles office sold pre public stock. The Orange county office sold partnerships. What sort of partnerships? Honestly, there were so many that I cannot remember. But as an example, we sold partnerships for phone card companies in Mexico, pre production Hollywood movies, restaurant chains, art, infomercials. I never put the deals together, these were the people in Boston. They would put together the deal, and I just marched forward and did what I was told. The money was so good, and I had such an inflated sense of self that I never really put much though as to whether anyone ever made or lost money. I was only concerned with me.
Things Start To Crash
In the mid 1990’s, many firms began to be closed down by the authorities. In fact, the government had to create special divisions and prosecutors that specialized in rooting out these frauds. Of course, everyone knows about Jordan Belfort and Stratton Oakmont. But that story is just one little tiny portion of the scope, and scale of the problem. During the 1990’s, it seems like every month, a new raid would hit and bunch of people would be arrested. In my heart, I knew that I was marked and that eventually I would get caught. But the truth is that I could not let go of the person that I had created. The money, the cars, the lifestyle, the women, the offices, the travel, the jewelry, the managing of over 200 employees. I just could not let it go. I could not walk away.
They Came For Me
In 1998, it all came crashing down. My offices in San Diego, Los Angeles, Orange County, and Las Vegas were all shut down by the Federal Bureau Of Investigations. The FBI had done a great job of building a case against me. They had agents working in my offices, bugs, wiretaps, paid informants, they knew where every single penny was stashed, knew about every asset, knew about Boston, knew about everything. They took me to jail. I was charged with securities fraud, wire fraud, mail fraud, failure to report income. And most importantly, they took everything from me. I even remember taking off my diamond encrusted rolex and handing it to a special investigator.
Although there has never been a completely accurate accounting of my complete sales volume, for all offices, during my 8 year crime spree…the estimate of gross sales should be close to 600 million dollars. Yes, you are reading this correctly…I defrauded investors out of close to 600 million dollars.
Plea Bargain
From 1998 to 2003, the federal government made my life a living hell. They took from me millions of dollars that I had earned (stolen) and to make matters worse, gave me a plea bargain that made me name names and point fingers at the Boston and New York criminal organizations. I will not use the word mob, or mobsters. This would suggest Irish or Italian gangsters. The truer word would be crime syndicates. These criminal syndicates are made of people from all sorts of nationalities; Jewish, European, etc. The truth is that I wanted to go to jail, I was terrified for my life, and jail was the safest place. It was a horrible, terrible, frightening time of my life. It was Karma. Initially, I was looking at a sentence of 10-16 years. But my ratting, and lets call it what it was…ratting reduced it to 5-6 years. And then from 1998-2003 I managed to scrape together $350,000 in restitution, all through legitimate means. Most shamefully though, my own mother sold her one and only asset, her condo. She had $100,000 in equity. She gave this money to help pay my debt. Somehow my attorney, had managed to convince the judge that a 33 month sentence was fair.
Prison And That Awkward Moment
In 2003, I finally began my 33 month sentence. I reported to the Federal Prison Camp located in Lompoc, Ca. At the time of my reporting, I was completely broken. I was taking 20-30 illegal vicodan each day, and drinking massive amounts of alcohol. My life was a wreck. I was broke, broken, and barely alive. Many of you reading this, whom of course hate me for writing a bad review or being swindled, are surely jumping with glee at reading about the true depths of my despair. I deserved it for sure. Only in the dark and quiet of a prison, can a person really start to see himself. I began to see myself. I did not like what I saw.
After about a year, I was transferred from Lompoc to Oregon to serve out the remainder of my sentence. After my arrival in Oregon, one evening I was sitting in the TV room, watching the grainy image. I turned to complain about the poor quality of the reception, sitting directly behind me was Nick. The guy that introduced me to the business. We looked at each other with surprise. Of course, he had ratted on me, and I had ratted on him. It was the most awkward moment. Here was Nick, the guy driving the Ferrari, now sitting behind me wearing prison suit. Total shock. Long story short, Nick had converted to Christianity. And yes, he even converted me. But this is another story, for another time.
Years 2006-2013
After my release from prison in 2005, I immediately went to work for my wife. She was a loan officer and needed help with sales. Whom better to turn than me? I immediately built a sales organization and within a year, her income increased from $60k per year to $250k per year. Year 2 and 3, gross commissions earned lept over $1,500,000. In 2010, she formed a mortgage bank and again we increased sales. In 2012, she sold the mortgage bank for a nice profit. In 2013, my wife and I divorced.
Trading Schools.org
In 2013, I started Trading Schools.org. Like many of you reading this, I too receive massive amounts of offers from trading vendors that promise riches. Of course, my nose for bullshit is finely tuned. I can smell BS miles before most folks are even aware that something is amiss. And so, I started building a list of every trading vendor that I could find and began reviewing and writing. I also read and was inspired by some of the stories written by Dean Handley and how he had reviewed a million different trading vendors and how he is the only vendor worth purchasing from. Anyway, the Trading Schools.Org is really just an opinion site. Before I write an opinion, I make sure that I record video that proves that what I am saying is the truth. To date, I have uncovered plenty of fraud and found very few actual vendors that are worth the spending of money and time.
A Warning
Sometimes, I get it wrong. My very first review was a company named Christian Financial Radio Network. I recorded a ton of video, took their trades on a simulator, had some good success, and then eventually wrote a nice review. This review pushed a lot of traffic to CFRN. And based upon my review, some folks purchased products and began trading in a live real time environment. Unfortunately, the promise did not match the proof. People lost money. And I looked like a fool. I have since rewritten the review with updated information and hopefully the innocent can steer clear.
I also wrote a scathing review of Night Scalper. I was sure that this guy was a charlatan. I had hour upon hour of video that displayed a poor user experience. After the review was posted, I am sure that the Night Scalper wanted to ring my neck. However, we talked and he proved that he does in fact trade, and he trades successfully. I provided proof in an updated review.
The point is that I sometimes get it wrong. So, if you are reading this, and you got a bad review…then you should contact me. Lets show that you are the real deal. Sometimes I write a bad review, and the vendor just disappears. The website goes down overnight. Amazing.
I also get a lot of phone calls. Mostly nasty diatribes from users that call me to defend the honor of their favorite vendor. I received a 20 minute call yesterday from a country bumpkin that was angry at my review of Investors Underground. He was calling to defend the honor of the trading room mentor, a female, whom he obviously has a crush over. I thought it was cute that he would call me and scream obscenities for 20 minutes. Great stuff folks.
Dont Believe Me
Dont believe me! You should just use my blog as a point of reference, you need to make up your own mind. Do your own investigation. Use common sense. Sometimes the truth is just sitting there in plain site, but we are blinded by the mirage of our own dreams. If a trading room owner or educator say’s that he consistently makes $1,000 per day, well that’s great. But have them show you proof in the form of account statements. Do research. Do your homework. Sorry if I am seem scolding, but most of these frauds are so blatantly dishonest that a review from my team is a waste of time.
Well that’s it for now. Thanks for reading and let your voice be heard. Please leave comments below. I love answering comments, especially the haters.
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good story
wow! what a story! You got it right, good for you :)are you still doing reviews?
CFRN – DeWayne Reeves as best I can tell own’s and runs CREN.net and it the radio Pitch man everyday. He claims “he will teach you how” then shifts to “we” which really means Dewayne uses the trading results of Michael who is an excellent scalper on 4 range chart. However Dewayne does NOT trade that way, NOR will Dewayne teach you after you pay him $5000 how he “claims” he trades on 30 min chart. Yet, Dewayne claims to be a professional trader yet he will never show any of his trades. Only refers to Michaels proof on 4 tick range scalp chart. Fact is very few can scalp like Michael can. Why would you want to scalp for a few ticks and miss 10 point runner? At end of the Dewayne seems to be a nice guy, shamefully he hides behind and uses the name of Christ to see vs be transparent as a real professional trader. Sad and Shameful. Do not waist your $5,000.
It’s a shame, sad, and possible heretical to use the good word and name in this way to effectively be mired in the same cesspool as the whack-a-mole scammers and regular shamshows just to swindle $5000 each.
I wonder if some of you remember the recent Archegos guy, who made billions being an effectively an independent trader surrounded by his family in his personal fund structure with lots of leverage for big options trading afforded him by multiple participating banksters, maybe even bigger profits than Livermoore in trader history. Then he lost it all, about $10 billion or more, and even cost the bankster hanger-ons that were willing to let him hold on to the lousy losing VRZ positions a bit longer which resulted in them losing billions more. Well, the point is he thought he was on some “holy” mission for God too, that it was his mission to make so much money trading and praying for intervention to turn the market so his losing position would change and become solvent again. WTHeck? A bilion or two of those profits could have gone privately to help clean up thousands of the approaching homeless rot many unreported that we see in so many cities today, get them into rehab, hire security to keep out the gangs. I’d think that would be more inline with the mission of the holy gospel , instead of those billions (all) going into self-enrichment and/or the participating banksters. Well at least Archegos guy is laying low now in some modest but not too modest home (probably better than “TradersHELP!Desk” Gail Mercer’s retirement cottage somewhere) we saw in the news. Apparently he didn’t go high-life like Certus (“why me tradingschools?”, lol) guy wanted to do. But who knows, maybe there are some hidden assets maybe not on U.S. soil, laying low until the spotlights pass over , hmm.
Thanks for sharing… I stumbled here by accident and am glad I did. It is always good to take a minute to context the information you are sure is fantastic in the moment…
I saw you had a review for Jerremy Newsome at Real Life Trading, but it’s now 404. Can you re-link it or update your finding?
I am trying to get my money back from Dyno Trading and now this guy Mark is treating to sue me for slander. He has proactively called me to buy his products and unfortunately I did He has over 4k in monies. What do I do to file a complaint and try to get my monies back.
File a chargeback with your credit card company. Just do it.
As far as Mark claiming he is going to “sue you for slander” well this is the typical route of the internet con artist. Just ignore it. The guy is a booger.
Hello Mr Emmett Moore, I am John K and I am 64, semi-retired with two children in university, one finishing his fifth year, the other starting his first. I too had a modestly good run, living and working in the middle east, low-cost housing then, modest income but tax-free making it seem lots less modest. The highest expense was flying there to anywhere but all in all, it was a good run. Now I need to be un semi-retired but as you well know, not the easiest to find a day trader who’s not just after me to buy their program their dvds or subscribe to their insider insights without just tossing the few thousand I have as a starting stake right out the proverbial window. Can you please help and or offer guidance to a smaller fry not looking for the wolf of wall street but looking for a way to finish educating my kids and keep my wife in a home where she can look after me in my sunset years, tend to her garden and look forward to being able to treat future grandchildren with some nice things on their birthdays, etc. I would like money not to be restrictive just to be prudent and relatively speaking comfortable. I am willing to work to study and to do what it takes to be successful. I just need a compass to point me towards the right destination to achieve this goal. Your sage advice would be heeded very sincerely. And appreciated as much. Thank you in advance. Regards, John K
Don’t do it. The worst traders are the desperate ones, and while you might not be totally desperate, you sound close. Most people lose in trading. Don’t be fooled by shiny promises. It is hard work, really hard work, with an uncertain payoff (if you are lucky and don’t get wiped out first). Sorry to be a dream crusher, but I speak the truth. Just my 2 cents.
TKU Kevin. Fair enough but I am willing to learn to study to paper trade (have been doing so for nearly a year now) and start very small and very conservatively. Which broker would you advise is prudence epitomized and which source would you advise for further prudent and patient learning. No pie in the sky. No Ferrari promises. Just working towards making enough money, long term, to make things easier. Your informed and sage advice is most appreciated.
I have never found a day trader who matches your requirements.
It should be noted that Mr. Davey has published extensively on automated trading systems, so I’d pay attention to his opinion.
Thanks!
Learn how to sell puts on value stocks at price levels where you’d want to buy the stock anyway. But not til after this market crashes, because at the moment there aren’t any value stocks, due to the Fed printing money and creating a stock market asset bubble. Or learn to sell outs, covering them with a second option that limits your upside, but your risk as well. Get really good at doing just that one thing. Wow! This is fantastic advice. I think I’ll take it, myself! 🙂
Hello. Is there a day trading spy www that’s gives good advice with a reasonable track record.
This guy Emmett is a self admitted rat, and according to cellmates while he was incarcerated he was a booty-bandit…it’s the truth, he likes them young.
I’ve known Marty since he was a young boy. It’s true that he liked to cut the heads of the neighborhoods cats and dogs and that he has a fondness for eating lots and lots of co@k. Many has been the time I have seen his father in tears as he dragged him home from the public restrooms. Please understand that Marty is entering the final stages of his transition to become Martina and the hormone therapy makes him do and say things that have no foundation of truth. Wow! Look Marty, anyone can make up any BS and post it as if it is true.
Spot on Stray as always! Spared me having to write something clever myself.
You are funny and clever as hell. LoL.
A “booty-bandit?” Wow, that is a really endearing term. I like that. And I supposedly “like them young” as you say. Well, let me tell you what I really do like…
1) Faster horses,
2) Younger women
3) Older whiskey
4) More money
I like all four. Especially when one of my horses decides to run with guts and courage.
Emmett, don’t even give these Bevis and Butthead wannabees the satisfaction.
So is your horse out to stud? Is he retired? Please please please don’t send him to auction. Contact me if he can’t race anymore and isn’t going to be used for stud.
Cobra is a gelding. So he won’t be doing much lovemaking. Though I am quite sure he would try, even at 8 years old!
As far as sending him to “auction” AKA “the glue factory”, that won’t be happening. I have a deep love for horses. My teenage years were spent working on various cattle and horse ranches in Oregon.
Recently, my wife and I moved closer to the San Luis Rey training facility where you can find me most mornings.
FYI, keep your eyes open for the 10th race today, at Santa Anita. His name is Pro Bono with a morning line of 50-1. If he wins, (which he probably won’t) keep your eyes on the 51-year-old handsome gentleman wearing a white cowboy hat. You have to look sharp when getting your picture taken in the winner’s circle.
That’s awesome! I’m sure you know that used to be pretty rare for your arena and mine (hunter/jumpers). The training facility I’m at now is forever, something I’ve never come across. Fortunately, times they are a-changing and 2nd chance racehorses now have their own divisions at our shows and more and more top names are starting retirement homes for retired sport horses. I’m a day late, I hope Pro Bono won!
He caught some traffic on the far turn but still finished a respectable 5th. Not bad because the oddsmakers had him at a morning line of 50-1.
Of course, I always have an excuse why a horse didn’t run very well. Lol.
You watch the Preakness? Medina Spirit folded up like a cheap suit. That’s what happens when you cannot cheat and dope your horse…they run to form.
Its great to read you are also a horse lover. We share a kindred spirit.
The thing I really like most is the ride. The thoroughbred is such an incredible athlete. I love when I get into a full gallop and you enter the “zone” where the animal just glides effortlessly across the earth at high speed. You wouldn’t believe they are so graceful and powerful unless you experience it, in the flesh. And they just love to run. It’s part of their DNA. Such a fighting spirit.
Boiler rooms describe what I saw back in the 1990’s at a collections department of a finance company. I was there doing IT work it was large room with desks short wall cubes at the head of each 2 rows was a podium which had a 2′ stool and every hour the lead person would get up there and yell at all of them. Point to what looked like a drawing of a big thermometer on the wall had different levels of I guess how much they collected from people. The ones who could not perform where escorted out of the building I was only there working for 1 week I saw at least 10 get fired on the spot. I could hear them on the phones telling elderly people not to pay any bill until they paid that bill for a new TV.
“Do research. Do your homework. Sorry if I am seem scolding, but most of these frauds are so blatantly dishonest that a review from my team is a waste of time.” — I did my research. I did my homework. I came to the conclusion that you’re a liar. You’re still scamming people. You learned nothing.
Emmett
Have you ever reviewed ezbreakouts.com?
Emmett Moore is a RAT
A “RAT” for getting Raging Bull shut down? Is this what you are referring to?
Regardless, rats are highly intelligent creatures and are quite adept at surviving through the most arduous climates and quite clever at outsmarting predators. So I am confused if you mean this as a compliment?
Please advise.
Nice with it Emmet. Mic Drop!
I was wondering if you ever wrote anything about Larry Williams? I’m sure you have heard of his operation, “I really Trade”. I used to follow him way back in the 70’s. He was in cohorts with a Charles L Lindsay, the guy that wrote “TRIDENT a Trading Strategy”. He originally wrote this in 1973. He and Larry Williams made the rounds giving seminars on it back then. Later editions of this book abound and can still be found on Amazon, but strangely the original 1973 edition and any mention of Charles L. Lindsay’s legacy or whereabouts are not to be found. Larry Williams is also a good friend of Jake Bernstein. I find this somewhat troublesome. I recently found out from a reliable source that Williams just recently said his Trident seminars with Lindsay were “something he wants to forget”. I can’t help wondering what that means.
Hey Tom, I am wondering if you ever do your own research. In 1987 Williams won the Robbins Trading Cup (re-named world cup championships) with 11,376% return on risk. Williams also won the 1997 World Cup trading trophy – MICHELLE Williams, that is. She is his daughter and was 17 years old when she won. Here’s the link:
You became a Christian? You won the biggest jackpot bro. You’re set for eternity. God bless you for your hard work
Have you ever researched Van Tharp’s super trader program? The cost to complete the whole program is like close to 90.000 dollars. There are no claims or guarantees that graduates actually make big money. I’d be interested in your opinion.
It seems to me that this blog is really just a way for Emmmett Moore to create some traffic and earn a few dollars because he does not seem to be able to get a normal job. Quite logical after being a convicted fellon and have stolen 600 million dollars!
And may god help him with his conscience of conning so many people. I sincerely hope he is now a better man but I have my doubts. I hope I am wrong.
Why the heck would somebody trust a guy like Emmett Moore who has defrauded more investors than Jordan Belfort!
Do you really think that he is honest now?
He does seem to have some basic knowledge about trading but he writes in a style that only attracts losers and people who focus on negative things and feel good when they read bad stuff about other people.
He then lets people advertise on his site which shows he has a double agenda.
I have to admit, his last post on spoofing was good and very informative and I hope he continues that way. That was really well done!
But trusting somebody who has defrauded people for 600 million and now is a life saver to all of you who read this? C’mon, think twice!
Excellent comment, Nassim. Very thoughtful. Probably the best comment that I have read in quite some time.
When I started this blog, I could have used an alias. But I specifically wanted my readers to know the full, unvarnished truth about what I did 24 years ago. I wanted to painfully spill my guts onto these web pages. But why is this important?
Because by starting with this very rough foundation, I wanted people to really think about what I am writing. To carry their doubts boldly, but hopefully allow themselves to think from a slightly different perspective, and perhaps I might sway a few opinions in the process. When you said, “Emmett Moore defrauded more investors than Jordan Belfort!” I said to myself…yes, this guy gets it.
The truth is that people hero-worship Jordan Belfort. He is regularly paid huge sums of money to speak at events and was even recently hired by Raging Bull (probably the largest investment educator) to offer investment advice/education. But why would they hire this guy for investment advice/education? Jordan could never invested successfully. He was just a boiler room operator with no understanding of financial markets. But yet, people still flock to him for the “next great penny stock investment.” It drove me crazy then, and it drives me crazy still. Jordan Belfort should not be offering investment advice to anyone.
People like Jordan Belfort and Emmett Moore can serve in a better way. A way that helps people. My goal is simple…to unmask the frauds, the phonies, the con artists, etc. I can spot these sorts of frauds before you have any idea that a fraud is being committed.
I can also write about these topics from the perspective of a former “ultra-capitalist” that simply did not care who he crushed to obtain wealth. In short, I want to offer my unique perspective.
Thank you so much for commenting on the Spoofing article. It not a popular article, but I put so much work and effort into that story. Getting an actual spoofer making large sums of money, and knowing that he could be prosecuted for the act, to come out and speak with me candidly was extremely difficult.
Now I also understand that I do obtain advertising revenue from some of these vendors, and I fully disclose this. That it certainly creates a “double agenda” as you say. However, you have no idea the legal battles and courtrooms across the United States where I have fought some of these frauds. The attornies fee’s that I pay is incredible. But to me, it’s worth it. In order to bring change to this industry, I knew that I would have to be fully committed, without fear, and willing to fight to the end. Ask Ross Cameron of Warrior Trading…he sued me twice…and lost both cases.
I will change this industry, Nassim.
Nothing is for free. If it’s free, you are usually the product. Emmett is not charging anything here. The only way for him to make money is through Adsense or if he secretly gets a commission from few positive reviews. Again, do your own due diligence in the end the way he does it before investing your money on any courses
I recall Emmett had mentioned whistleblower awards by the regulatory feds for help in outing some of these frauds. So perhaps he partook of some of that which could have helped fund his over 200k spent in defending against lawsuits by the scams. Maybe and hopefully he’ll write a comprehensive book on the sordid industry and his work behind the scenes of tradingschools. I’m sure it would be a great “pop” financial section best-seller.
Anyone else see that clown Belfort’s mug and article words the media put out during the Gamestop farce? where he predicted Robinhood’s demise like he’s some legit financial news expert now. sheese. In my book, Emmett is the real true hero of helping giving the power back to the retailer and those duped scammed, and finally stemming the tide of this decades long snakeoil runaway industry that compromised and bribed review sites had long failed or disavowed to do. And I hope someday tradingschools gets strong enough to shake off the suffocating crony legal pressure from Sykes and he and his empire gets their raging-bull & OTA type of comeuppance and toppling from the feds and class-action clawback from the masses of victims too.
I have to disagree with Emmett.
Your comment, “But trusting somebody who has defrauded people for 600 million and now is a life saver to all of you who read this?” is just dumb. And I will use an analogy to point out why your comment is dumb.
Kevin Mitnick is computer security consultant (and a former cracker, the official term for a criminal hacker) who served time in prison for computer crimes. Upon his release, corporations and government agencies TRUSTED his consultation services on computer security. Who better trust when it comes to computer security than a former criminal hacker?
Likewise, who better to trust in the scummy/scam-infested world of investor/trading education, than someone who was a former scammer?
A former scammer knows who scammers operate.
You mean you’re disagreeing with Nassim, correct? not Emmett. The difference between Emmett and other big time frauds and felons, or other felons who got a book and movie deal like Belfont then just doing some lip-service speaking deal about fraud for a stint , imo, is that Emmett and tradingschools seemingly has somewhat ongoing ties with the authorities. As he’d said, they know him, they may not like him, but they know him and they seemed to have acted with the help in large part of Emmett’s work on tradingschools. Which also acts as alert buffer for tradingschools that scammers can’t intimidate because the feds and authorities are close enough by and the shammers usually don’t want to get noticed then investigated, with their worst case being audited and their actual losing trading results subpoened and bare for all to see of their victims and dupes.
Correct. I am implicitly disagreeing with Nassim, by explicitly disagreeing with Emmett’s assessment of Nassim’s comment. Nassim’s comment isn’t excellent; it’s illogical, as I have pointed out.
My company uses Mitnick’s courses. They are quite good and he shows you how it all happens which is really interesting. That’s exactly why when I read Emmett’s story, I though Oh good! He knows what to look for. Mitnick was exactly what I was thinking about.