We all know some the things he predicts are possible, if not probable - such as hyperinflation, collapse of the Eurozone, and another stock market crash that would put the US back into recession - or worse. The question everyone should be intersted in is: so, is there anything that I can personally do to protect myself and my assets?
I'm cynical by nature, but this one hasn't set off my BS detector -- yet. Anyone have thoughts or experiences with Mr. Lombardi and his "services"?
Well, most of them are sincere. But they usually have only one method, and sometimes it works and sometimes it doesn’t. When it does work, some guys use it and make tons of money.
But you can’t really predict the future. If these guys could, they wouldn’t have to peddle a newsletter.
The question I always ask myself is, “If this guy really has a technique to make you a mini George Soros, why isn’t he quietly making himself a fortune with his technique rather than try to sell it on the internet.”
Here's one way to look at it:
1. compile subscription costs of newsletters that claim you are doomed,
2. determine the average subscription cost of a newsletter that claims you are doomed (designate this amount as x),
3. alternatively, calculate your own marginal propensity to consume information that you are doomed (x), and
4. calculate subscription cost > x = you are doomed.
Is he of the Nigerian Lombardi’s?
I signed up about a year ago because I was uncertain about the bull market and I still am. Fortunately I didn’t follow Lombardi’s doom and gloom. He touts predicting all the major bubbles which you will do if you predict it almost daily. While his statistics seem very plausible, the bottom line is neither he nor anyone else knows when the bull turns bear, but if you keep repeating it you can ultimately brag about how right you were.
What really grates on me, while he talks gloom, his other numerous services and staff promote the most unbelievable stocks and “finds” that may double your investment in, and I quote, “2-3 days”. Just buy another service and you can get rich buying in while he promotes selling all you own.
My advice would be to do your own due dilligence, follow reputable information from sources like Morningstar, Marketwatch, and others and then just keep and eye on the world. I don’t believe his crystal ball is in focus any more anyone else’s. The market will do a correction sometime and though I agree it may be a severe one, he will only be right be saying everyday that it will happen, and that’s what he does. Had I followed his advice a year ago I’d have missed a 40% gain.
My 2 bits.