Action Alerts Plus is run by one Jim Cramer. It appears as if Action Alerts Plus website is redirecting to another website called The Street real money. The website where Mr. Jim is currently promoting his services claims that we can Get Access To Money-Making Ideas From Top Investment Pros, Handpicked by Jim Cramer. He is a public nuisance. He claims to be have graduated from Harvard and Harvard Law (Magna Cum Laude) but apparently nobody has ever seen his diploma. Nor is he registered as a lawyer, or ever practiced law. Apparently, valforex is the first to ever ‘call him out’ for this outrageous claim.
The owner of Action Alerts Plus (The Street Real Money) claims to be a former stock broker at Goldman Sachs and “made a bunch of people rich.” Yet, FINRA has no registrations of Jim Cramer as a stock broker, and the employment at Goldman Sachs appears to be yet another fantasy.
He claims magnificent success as a “Hedge Fund Manager.” Yet, no record of this supposed “Hedge Fund” exists. Yet again, FINRA has no record of Jim Cramer ever managing a public hedge fund, or being a financial advisor in any capacity. According to FINRA, Jim Cramer is a “fictional TV character” that was “apparently created for entertainment purposes.”
For the past 19 years, Jim Cramer has published and sold a stock picking service named Action Alerts Plus. The performance has been abysmal. In fact, he has never beaten the SP500 his entire career. Once factoring in commissions and subscription fee’s, the average investor would be deep in the red. And probably broke. The “Money Back Guarantee” attached to the Action Alerts Plus newsletter is the source of multitudes of complaints filed with valforex. In short, getting a full refund is nearly impossible. The only verifiable thing we could actually confirm about Jim Cramer is that he once was homeless, slept in his car, and held a job as an ice cream salesman.
That means we are dealing with a shady website and character of course. If you would like to make money as a trader, we recommend these products.
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Let’s start with the pros of purchasing anything on this website. His books are worthless scribble, His track record of investing is atrocious, Claims a Harvard JD that nobody can verify, FINRA has no record of any employment at Goldman Sachs, nor any financial registrations, Claims to be a former Hedge Fund Manager with massive profits. This appears to be a ripe fantasy, Bogus refund policy and the source of many complaints.
Action Alerts Plus is the “super secret insider picks” of TV host Jim Cramer. The cost is $299 per year. We all know Jim Cramer. He is on CNBC every f*ng day. Whacking buttons that proclaim that a stock is “BUY BUY BUY” or “SELL SELL SELL.”
It truly amazes me that people actually take this guy seriously. They watch his TV show, then they head over to The Street, Jim Cramer’s very own pump channelwhere he will glean upon thee — “the secrets to everlasting wealth and prosperity.” Or some other BS that sounds remarkably similar.
Just pay the $299 fee, and the Jim Cramer secret stock picks will pour forth upon the computer screen, bestowing yet more layers of “financial wisdom.” And the refund policy? Well, Jim claims a “full 30-day money back guarantee!” And “if you don’t like it, you get your money back!” What a bunch of BS.
As 39 readers of the valforex blog can attest, the money back guarantee is a bucket full of holes. Complete and total nonsense.
Here are a few choice quotes from valforex readers:
I signed up for a 30 day subscription and then cancelled 2 days later. No refund. After multiple attempts still no refund. -RM
Visa refused my refund. The terms of service does not match the promises on the website. Buyer beware. -LL
At valforex, we were curious why a well-known television personality would go through such great lengths to hustle ‘mom and pop’ investors out of a few hundred dollars? And so, we called The Street with this bushel of complaints and asked what in the hell was happening over there.
The salesman on the telephone was the typical boiler room sales agent. He immediately starts pitching the “two-year special pricing” where you can prepay “only $400 for hedge fund style stock picks.”
Hedge fund style stock picks– are you kidding me? And so I asked, what hedge fund has Jim Cramer ever managed? According to the salesman, Jim Cramer is a “15-year former hedge fund manager averaging nearly 70% per year” or so he claimed. So I asked, where is the audited proof? Do you have any sort of track record? The salesman replied, “Hedge fund managers are not required to report their performance.” Just wow.
Jim Cramer claims that he “retired in 2001” as a “hedge fund manager” from his very own investment management company. The name of that company was supposedly Cramer Berkowitz. He also claims that he was a former stockbroker for Goldman Sachs.
All of this should be easy to verify, right? Wrong. Next, we headed over to FINRA.Org. The regulatory body in charge of stockbrokers, money managers, financial advisors, etc. Their records and databases date back to the 1980s.
According to FINRA — the owner of Action Alerts Plus has never been registered as a stockbroker, at Goldman Sachs, or anywhere else. Additionally, FINRA has no registrations or records for any company named Cramer Berkowitz. It appears that Jim Cramer just made all this shit up.
As incredible as all this sounds…we recommend that readers call the FINRA hotline at 800-289-9999. Ask them for yourself. Simply ask, “I am calling about that TV guy named Jim Cramer of Mad Money” and “do you have any records or registrations for him?” They will tell you plainly…”We have no records on this guy.” If you’d like to invest wisely, use these tools.
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