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Wade Cook, good or bad?

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Just a few comments on Wade Cook seminars. I know that Wade has his followers and his strong detractors. I know his Wall Street work shop is expensive, but anytime you pay for an education, it will cost money. I know that his course was beneficial, and was it worth the $3600 it cost my wife and I to go...no. I know you can obtain the same knowledge by reading books, talking and listening to others. When somebody comes up with a new idea and is successful, there will always be nay sayers and standup people who would rather die on there sword for them.

Case in point. 22 years ago there was a little known, very successful football coach from Georgia, who set the insurance industry on it ear in a VERRRRYYYY big way. His name is Art Williams. What made Art so different was this philosophy "BUY TERM INSURANCE and INVEST the DIFFRENCE." Within a short time his company was in hot water and under investigation in several states. The states that were big on his case were FL, TX, and WA. {These states sound familiar for those that are Wade Cook detractors.} This company rocked the industry. None of the big insurance companies wanted Art Williams to do business cause what he represented went against the main steam. The long and short of this is that Art Williams eventually went away and be came PENN CORPS FINANCIAL Services.

The company stood for basic strong financial advice, but through some personnel decisions, Art is no longer in the business. Yet, 22 years later, what is the battle cry we are constantly being bombarded with on radio and TV ads "Buy Term Insurance" for it is substantially less expensive. What does this have to do with WADE COOK. Wade is teaching us to use the stock market as a business and this is against mainstream thought amongst the big boys.

The big companies and traditionalist say buy and hold. Wade says buy, get a profit and get out. Wade's, notoriety, is for some of his questionable financial disclosures and business practices, but does that mean what he is teaching is wrong. This is the same as Art Williams, the principles are correct, but some of the business practices were questionable. I don't think so…in SLC there are already 2 other seminar groups taunting us with there ads to come to there 3 hrs seminar, that is a prelude to there 2 day workshops. Yes we can get onto the man for what he is doing, but that doesn't mean what he is teaching and writing about is wrong.

I am not trying nor is it my intention to make this a forum on Wade Cook, but showing that history does indeed repeat itself. Wade Cook and Art Williams are out of the same mold, Both want to be highly successful and make money. They are doing it and have done it. Their legacy in the history of business has yet to be written, but those who follow what they have taught have made a ton of money. Lets not get wrapped up in the "who", but in the "Why and How" of being successful in our pursuits of obtaining, achieving and keeping our wealth.

A WEE BIT MORE ON MR. COOK...

There are a lot of mixed feelings when it comes to Wade Cook. I have never read a word of anything that he has written. Possibly I'd be much better off today if I had? I don't know; but I do know that he has a great following. Much of the negative publicity floating about, is probably adding to his popularity. Normally if there is controversy over something, it'll spark attention from those who wouldn't have ever thought twice about the subject, had it not been for the flavorful discussions abound.

From what I've heard of him I've depicted the following:

1) He provides information to novice investors that is very useful. Namely how the whole stock market investing thing works in general.

2) Anyone who reads, listens to or attends any of his books, tapes or seminars should, as in any arena, enter with their eyes and mind wide open. At the same time applying a grain of salt to it all. Hopefully they'll snoop around and follow through on some of the debates, that are going on in discussion groups such as this one, so as to avoid dumping a small fortune into his learning process. If indeed they discover beforehand, that he really isn't what they first thought he was.

3) Wade Cook is, if nothing else, a magnificent business man!

4) What he has to say is well worth hearing. Just make sure that you are hearing the things that you feel justify further spending, such as "seminars," before you do that spending.

5) He is out to make as much money as quickly as possible. Quite frankly, aren't we all?

Remember! This is all coming from a Trader who is basing his opinion (or lack there of) on what others have written about Wade Cook. Not from following him or personally investigating his material. I might add; that I'd like to reiterate the fact, that I've always read both sides of the various debates with an open mind.

Bottom line: suck what information and ideas that you can from him; then move on!

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