>Can anyone tell me about some of these guys who have commercials on the
>radio selling stock market investment guides and seminars. 'Wade Cook' is
>one of them. They try to encourage people to get into futures and
>commodities markets, giving 'inside tips' like "We think that the price of
>oil will rise due to el nino!". Just the fact that they can afford so much
>advertising at prime times seems to indicate that they are very effective
>at what they're doing. Have they been sued yet?
Sued? Sometimes, but not often. Sued for what, selling nonsense to saps? The classic estimate is that 80-90% of futures traders lose money. There was a story in the Sunday NY Times about the small industry of newsletters that track and recommend specific Fidelity funds for portfolio switchers. Three quarters of the newsletters underperformed the market, usually by a wide margin. What can you do about it, it's just the beauty of the free market.
Doug