Why I cancelled The Bauman Letter
I signed up for The Bauman Letter, edited by Ted Bauman and read it for a few months. His father is a well-known member of The Sovereign Society and Ted contributed for years.
I like Ted's writing style and read his letter for the nuggets of information I could glean. One month he recommended a company in Australia for holding my gold. If I had a hundred grand in gold, maybe I'd go that route. Then again, maybe I'd bury it in the back yard like the old Romans.
I cancelled his newsletter after reading his October issue.
Ted posted ten pages of glowing prose for the 1291 Group of the Americas. I was impressed by his report and thought this might be a company I could park my IRA with and not worry about it. (We've been burned by local investment advisors who lost large chunks of our investment and still took their overly fair share of fees, so we're hyper-cautious.)
Ted especially praised Erika Nolan, the CEO of this prestigious firm.
Ted forgot to mention that Erika Nolan worked for The Sovereign Society for sixteen years. Wouldn't you mention that an ex-colleague runs an organization like this? The other two partners in the firm worked together elsewhere before joining Erika at 1291 Americas.
Oh, and their office is in the Bahamas. They specialize in ultra-high-net-worth individuals. According to Credio, 1291 Americas has an average investment account of $2 million - and a total managed investment of $4 million. Doing the math, that means they have two clients.
Thanks, Ted, but I decided your advice just doesn't apply to me. You seem to have no concrete connection to the average joe on the street who needs the investment help. Bye-bye.
Why is it that all the financial newsletters seem to think everyone is a flippin' millionaire in the USA? Keep a hundred thousand in gold. Buy a few overseas properties for three hundred grand apiece. Invest in paintings or stamps or wine or some other collectible. Get another passport so you can escape the US in time of need. That means buy another house in a foreign country and qualify for the Visa there, which is tons more money!
Folks, can't you give advice to normal Americans that live from paycheck to paycheck, or to old retirees (like us) that live on our savings? I guess not.
The news of the imminent collapse of the US economy is posted everywhere on the World Wide Web. Porter Stansberry is a fun read. If you sign up for anything on his web site you will be bombarded with advertisements for investment newsletters of all kinds - all of which belong to his huge group. He's a rich man off people buying his investment letters, and he wants to keep it that way.
Honestly, I have subscribed to half of them over the years and cancelled every one of them. The way they do their math is crazy. When I showed a gain of about 6% on their recommendations, which isn't bad, they reported it as a gain of 16%. I blame the new math in our schools.
I like to read Bill Bonner's take on the US as well. His major warning of the Deep State running this country rings true. I'm not sure I disagree with him.
Of course, I'm not sure about those videos and photos showing alien structures on the Moon, either.
At least Bill is honest about it all. He writes from his wine farm in France and his cattle ranch in the mountains of Argentina and lets us know what the average American will face in the frightening economic future of the USA.
So I am concerned over the state of the US economy, and I have been for a while. Darling and I even published a book in 2013, Preparing for the Fiscal Cliff. It's free for Amazon Unlimited customers, and only 99 cents to buy the e-book. You'd think it was outdated, but the issues still remain, kicked down the road by a Congress that does little to support the ordinary citizens of the USA.
I keep reading the newsletters. Darling and I visited Costa Rica, Ecuador and Panama this year to see if we might want to relocate, but we think not. I'll give more details on that in another post.
Thanks for your feedback on your experience with these newsletters. Yes, where are the financial helping tips for ordinary people who aren't rich, but who need financial counseling geared to our needs and pocket books? How about his book "Lawyer Proof Your Life"? DID YOU FIND IT HELPFUL IF YOU READ IT? THANKS A LOT!
ReplyDeleteFirst of all, I have to clear something up. Lawyer-Proof Your Life is written by Robert Bauman, Ted Bauman's father.
DeleteI have the book, but haven't read it.
When I do, and now I will, I'll write a blog post on it. How about that?
please go to www.economicrant.com and get my economic newsletter twice a month for FREE. no, i don't recommend any stocks, brokers, vaults, or anything else. free as in
Deletefree. yes, for the average joe with little money.
Roger, I read your latest newsletter. Though I agree with much of what you post, we'll have to agree to disagree on some of it.
DeleteSilver? Yeah, I'm with you there.
Fiat moneys worthless? Yup. Nailed it.
I'm going to write a new post in a few days and I'll talk about it all, just like you do. I guess that's the sort of stuff people need to hear, or a two-year old post like this one wouldn't be getting so much traffic lately.
Ted lost me when he peddled that little sheep
DeleteVideo and how the market was going to collapse because of a secret meeting or some other bs. Date came and went along with my respect for this guy... nothing happened.
Thank you, Vince, for your candid review. I never have enough time to read these newsletters, regardless of how valuable they are. I, too, am not in the rich and famous group, just average investor group. Your review was VERY helpful
ReplyDeleteGlad it helped you! Sorry for the year-long delay in response! Sometimes I just miss things...
DeleteI signed up for Bauman Letter and canceled after two months. The reason is once Banyan Publishing Co gets your name, your email is immediately cluttered with a series of long winded marketing emails offering subscriptions to unknown brokers at prices running from $495-$15,000. The exaggerated profits they use as evidence include a lot of pink sheet penny type stocks, or foreign stks many from the 2008-9 bubble ers which are no longer in esxistence teday.
ReplyDeleteThe is not my type of investing,nor wha I have ime for. After they get your email address you continu to get mail after canceling unless you block it as junk.
Too true. The way they calculate profits is mathematically correct, but misleading. If they buy something and sell it a week later for a 10% profit, they advertise it as a 520% gain (52 weeks in a year x 10%). I really dislike that. One newsletter I kept for a year didn't even pay for the fee.
DeleteIt just isn't worth it. They are the ones driving the yachts, buying multiple houses and vacationing in exotic locales. They know their business - they do make profits. But if you want the big money, it seems you should start a newsletter and sell it to everyone!
Thanks for reading.
The monster hiding in the wood pile; that is how they get your attention, not suggesting there is no monster there, but the assertion that Bauman is only doing this because he cares pales in the light of reality. If this was about his magnanimity he would simply publish a free open newsletter for all to read. Yes I have fallen into the fear trap before on several letters, including his and have never seen the value, and have been the subject of all out email overload with constant sales pitches. Do I think we are headed for trouble, yes I do, but as you all have pointed out with excess wealth out of country options could work, assuming that economy doesn't fail as well, bury gold in the back yard does not sound too bad.
ReplyDeleteI actually agree with you that things will get bad in the future. How could they not? You're right on every point. Thanks for reading.
DeleteI recommend you checkout "Scandal" section listed under Robert Bauman on Wikipedia before making an ivestment decision
ReplyDeleteThanks, Vince !!
ReplyDeleteI happen to come across this ...
"70% Stock Market Crash to Strike August 1, Economist Warns"
with Ted Bauman "THE ECONOMIST" name all over it.
.....and figured it was pure crap !!
Happy to come across your site warning people about these FRAUDS who make their money by SELLING fake newsletters.
GiGi
Frauds might be a bit harsh. Like many people they seek to make money for themselves. My warning is don't let them make your money their money. In the long run they only provide value to themselves, regardless of what they promise.
DeleteActually - the exact sames alarmist newsflash can be seen in "sponsored" spaces of various website today (Feb 2019) predicting 70% market crash on March 1 2019. Sounds familiar? Yes, it is the same "famed economist Ted Bauman", peddling fear and graphically showing lambs led to a slaughterhouse.
DeleteSo scam = yes. Fraud = not stealing as such, but knowingly lying and misleading, absolutely yes. Con = yes. Shameful and dishonest = yes.
Enjoy the ride.
This is a technique mastered by every financial newsletter publisher that I have read over the years. Porter Stansberry excels at it.
DeleteNot that Stansberry doesn't make good points. He is a smart fella but a GREAT salesman. See my latest post on February 13 (2019) where Porter does his classic sales job, Stansberry Leaves the Business (http://o-dark-thirty.blogspot.com/2019/02/stansberry-leaves-business.html)
I also received an (another!) email from Porter telling me about his latest book - which, frankly, I might buy just because it might be fun to read.
Is the book "Endless Income" that he wrote any good? Is it for people like us, or only for the already rich?
ReplyDeleteDon't know, Clyde, but based on my experience with what he has written, I'd not buy anything else he writes.
DeleteThank you, vince, for your insights. I fear a major collapse is on the horizon, caused in part by a manipulated market, but I also Shy away from fear mongers who have one goal, i.e, to profit from my fears. Use common sense, avoid being greedy, and invest in protected accounts e.g. ira's.
ReplyDeletePrecisely the right formula. Good luck and God bless.
DeleteI agree. It's just obvious that the market is being manipulated like never before. But what are ya gonna do if you don't have the cash for a farm in Uruguay? It's common greed that drives the insanity. Everyone who owns stock is part of it, so the old 'other greedy people' bit is the best lie going. I don't know. I suppose we will survive. Maybe some of the creature comforts will have to go. Try to stay well and happy.
ReplyDeleteEven two years after I published this, the game still continues. Market writers will work on your embedded fear that you will "miss out" on the next big thing and take all the money you will send them.
DeleteI'm just not sending them any money. Now I'll just manage my expectations and look for the happy in this world.
God bless you all, especially this Christmas season.
I’m new to your site Vince,I just watched the Bauman video and I wanted to see reviews on him so I found your site. I appreciate your info. Merry Christmas to you too.
DeleteI watched the video by his Dad, and I am always skeptical of 'newsletters'. If anyone is so brilliant that they know when to make money, why not just do so, and not be bothered with creating a newsletter? I once met gold info peddler Bo Polny at a conference. He was pushing me to give him $15k for the honor of him telling me when to buy gold. It was like looking into the eyes of the devil himself. I could actually feel his darkness as he tried to get a hold of my soul. Scary stuff. AS for Bauman, I did look him up on wikipedia, and when I saw this in there, it was a HUGE RED FLAG! No thanks Bauman!
ReplyDelete"On October 3, 1980, while running for re-election, Bauman was charged for soliciting sex from a 16-year-old male prostitute."
Yeah, I don't know if the Wiki is true - it can be edited by anyone, so we have to be cautious about all that. A little time in a real newspaper archive with microfiche might bring a definitive answer, but do those still exist?
DeleteYour point is my point. If they know how to make so much money, then just do it.
Thanks for reading, and God bless.
Thanks Vince, I look forward to more of your writings. I'm like most here, 66 and my wife of 67. We have about 3/4 mil in the bank and own 6 rentals all paid for and are sitting back getting our SS. I know nothing of investing but I know what fear mongering is. I too realize our country is headed for trouble but don't quite know what to do. The money has been sitting in savings accounts making nothing. I'd be so happy to make a 5% safe return and am looking.
ReplyDeleteThanks for readings, Trask. Like you, we look for stable investments and it's hard in this world. The market is rigged (see Dave's comment below). Gold is a good hedge. Foreign investments are odd (to me) and fraught with peril.
DeleteI read that T-bills are one of the most liquid and least volatile assets in the world. Short-term 28-day bills might provide some income, but I'm not an analyst or adviser - I'm just a guy with a wife trying to make it through old age.
Thanks for reading, and God bless.
I used to work on Wall Street, for almost 10 years and I still give financial advice to friends. 2 things drive the markets....GREED and FEAR. Don’t get suckered by greed based talking heads, don’t get bamboozeled by fear based reports. Adhere to the prudent investment strategy theory. The older you are the more safe your investments should become. If you are a 78 year old grandma on fixed income, don’t buy tech stocks. If you are a young buck at a law firm you can take some risk. I tell everyone to buy gold and silver. Not stocks or certificates, no, buy the real thing traded at its spot price. For centuries gold and silver has been used to barter with. I would also recommend buying 6 months worth of food. Like MRE’s soldiers eat. Lots of companies out there. I say this only if dire circumstances arise, you know you will be able to eat for months. Lastly, remember the company and the stock are 2 different animals. In 1999 pets.com was a great stock Proctor and Gamble wasn’t. Which is the better company? It’s not even close. If you are going to invest in stocks, diversify your portfolio to own different companies in different sectors. So if transportation takes a hit, you still own a media stock, a tech, a consumer goods, a pharmaceutical etc...If 1way outperforms the others and you think it’s valued too high, sell some and buy more of the others. It’s not a race, it’s a lifelong marathon. As a former broker, if you are paying high fees. Get out. Open an online account and do trades for 10 bucks. I once had my secretary sell 1,000 shares of Walgreens for my dad, but I wasn’t there to discount it, they charged my dad $1500 to press a button. No joke. And if you don’t have any activity, they will sell your stock to pay for their service fees. It’s ridiculous. There is enough good information on the web. Don’t chase penny stocks, and don’t buy stocks that are so expensive that you can only buy a few shares. These companies are volition most times and can trade in big ranges. Lastly be happy with an 8% return a year. Try to do better, but don’t chase. If your good company goes down...don’t sell, if nothing is really wrong, it might be time to buy more. Remember we are the little guy. We buy and sell on news. The big guns are already out or in their positions...they have the advantage. Sorry to write so much, last thing I want to sound like is a know it all....I’m not. I too am worried about a correction. But fear based newsletters that boast bogus earnings isn’t the answer. Be smart...it’s your money
ReplyDeleteWow, Dave, that is some good advice. Thanks for taking the time to write. Thanks for reading, and God bless you.
DeleteLove this blog, but why no mention of or discussion about — by anyone — of the huge stovk market tumble this (Xmas 2018) week???
DeleteVince,
DeleteI want to thank you for this blog. I too finished watching Robert's video on getting a free copy of 'Endless Income' and luckily decided to look for some reviews.
Dave,
This is by far the best advice I have seen/heard on investing to date. Pretty sad considering I'm in my mid-fifties. Thank you very much and God bless!
How come none of you (as fsr as I can see) are discussing the huge stock market drop this week — Christmas week 2018 — and it’s implications???
ReplyDeleteThere’s posts (replies) on this thread as recent as yesterday (12/27/28) but no mention of the big drop? It could be the start of the “something bad” we all agree is going to happen, n’es pas?
Also, the Bauman sales pitch says stocks will drop not because of tariffs and all that stuff but because of something that was made illegal after the 1929 crash that is now legal again. Anybody know what that is? Thanks!
PS I’m so glad I found this site… I was googling Bauman after reading his sales pitch and found y’all. Can I subscribe or something? Not familiar with blogspot / blogosphere.
Well, I'm not a financial blogger. I just comment on things that bother me in this blog. I will go make a post about the drop now, though, since you mention your concern.
DeleteI think there is a way to subscribe - my daughter did, but I don't know how.
What Bauman was referring to in his pitch was stock buy-backs. When a company buys back shares, it lowers the number of shares in circulation, thereby "artificially increasing" earnings per share. This makes their stock look underpriced. Apparently, after the 1929 crash stock buy-backs were outlawed. Stock buy-backs were allowed again the 70's or 80's (I don't recall when Bauman said that occured).
DeleteThanks for the clarification. The newsletter people want you to think they have access to secrets to make you wealthy. That's, to the best of my knowledge, NEVER the case.
DeleteBanyan Hill Publishing is AGORA Financal
ReplyDeleteTHE COMPANY THAT SENDS YOU ENDLESS "FINANCIAL" NEWSLETTERS
AND ALL THEIR EDITORS AND WRITERS TRY TO SELL YOU MORE
WRITERS LIKE BAUMAN
Yes, it is. Again, it's caveat emptor out there in the financial newsletter world, and my personal advice is not to buy from the people who sell fear.
DeleteHi Vince, thanks for writing that post. I was searching for the reviews of Bauman Letter but not much info I can get. And there are quite a number of sites promoting how good Ted Bauman was.
ReplyDeleteAnd after the so called-70% stock market crash video showed up, I started to fear. Ya, we all know what's coming up, but just like you and the others said, he is fear-monger and sells fear to make you use their services. When they mention that there is no losing year and the return rate is 585% over past decade, I was nearly devoured by my Greed. Your nice essay just stop me from doing something stupid.
Many Thanks!
Thanks for reading.
DeleteHe isn't wrong. We are due for a crash. But giving him your money helps him, not you. I know this from experience.
How they calculate the return rates is astounding to me. Here's an imaginary example.
If I buy a stock and then sell it in a week for a ten percent yield, they don't call it a 10% profit. They say ONE week at 10% is equal to 52 x 10%, so it must be a 520% gain.
However, if there is a simple 10% loss, they don't do that.
It's like they work for the government or something...
Here's an adage from my engineering days: Figures don't lie, but liars can figure.
I came across Bauman's video warning 70% crash and honestly got scared. Like anonymous above, I came to search for Bauman's reputation. His proof actually is very convincing. I heard many worries regarding current abnormal uptrend in stock market. I'm not a millionaire at all but have a little in stock and foreign currency. Got feared.
ReplyDeleteThere is very little doubt there will be a crash of some sort. The US Government decisions have bankrupted the country. It is inevitable that some sort of financial crisis will hit us in the USA. The proof of this should be front page news, in my opinion, and is there for anyone to see. Bauman isn't the only one shouting the warning.
DeleteNor is he the only one SELLING something to "help"...
HOWEVER, will buying what Bauman is selling help you? That's the big question.
I think not.
Wow Ted Baumann just released a video "Financial Collapse 2019: Insiders Dire Warning About An Unstoppable Economic Collapse"
ReplyDeletehttps://youtu.be/7zu3SgXx3q4
Of COURSE he did. It is a rehash of many of his previous warnings as well as other Stansberry warnings. If the collapse doesn't happen this year, he'll change the date and post another.
DeleteI even agree that a collapse of some sort is inevitable. Check one of my most recent posts.
But Baumann's service probably won't help you survive it. It will help HIM manage a little better - with some of your money.
All I can say is, this is great information. Thanks everyone - I will make an attempt to subscribe. Would like to read more of your posts Vince.
ReplyDeleteIt seems to me that I should transfer my holdings with major brokerage to a low cost account such as TD Ameritrade or Schwab or Vanguard. I have some large built in profits plus cash. Any recommendations?
ReplyDeleteBlackjack, Firstly, I don't intentionally give financial advice. I am glad to share my personal experiences, and not all of my financial decisions were good ones. For instance, when I retired in 2015 I invested my 401K in a popular bank. The financial advisor charmed me with his assurance that my money was important to him.
DeleteHe was right. Within six months my account value dropped more than $50K and he left the bank.
So my personal thought on that? Nobody cares about your money like you do.
You know what? This is worth a post all by itself, so that's where I'll go... Look for it.
Vince, with all the misinformation on the net I always google reviews before making a decision. Must say your reviews appear sincere. Glad I found this link
ReplyDeleteGeo. It is my opinion, certainly, with great sincerity. Thanks for reading. Good luck on your financial decisions.
DeleteIts now March 2020 and whole world is crashing down!
ReplyDeleteHELP. It is August 2020 and everything is crazy. I am scared, but trying hard to remain calm. I have a small/moderate savings and only a small income. Fortunately I have no debts at all. I'm feeling very unsafe right now. I feel certain I should do something but don't know what. At one point I have subscribed to half the services out there. Any direction ??? Thanks.
ReplyDeleteI know that life is hard, harder now than ever, it seems. I'll make a new post and use your comment as the basis, since you are not alone. Read that again, please. YOU ARE NOT ALONE. Fear is the enemy, more powerful and destructive than economics or life.
DeleteI hear your pain. I'll go work on that other post now. It should be there soon. God bless you.
Here you go:
Deletehttps://o-dark-thirty.blogspot.com/2020/08/the-world-is-crazy.html