I’m a former member of 21st c.a.
We were all sexed up to loan money against our homes, to invest in stockmarket strategies, primarily “renting shares”.
Also we were encouraged to open a margin lending account with ord minnett/leveraged equities.
So you could say that inexperienced people were pos. leveraged on top of borrowed money [leverage on leverage], a potentially dangerous thing if misused!..[but all the while there was a 'you can do it' mantra]…It now makes me cringe.
Then, just as we’re all foolishly cashed up, two graduates/affilliates of jamie, came onto the forum, [Andrew Dimitri & Bill Stacy].
Who then proceeded to woo us away into an even more ‘cant fail’ sure thing lucrative “DIMITRI STRATEGY”.
A strategy where you were encouraged to risk up to half of your money, on what was later revealed as just a high risk ‘bull put spread’ option strategy!
A strategy, that if a proffessional were involved, would advise against, for the simple reason that losses can mount quickly & regaining losses [according to the DIMITRI strategy] would involve doulbling or even tripling your initial risks!
When making this point, we were effectively ‘brow’ beaten, when/then it was promptly pointed out that the ‘professionals’ were quote “JUST PLAIN WRONG!” & “HERE’S WHY, BLAH BLAH”.
Well, a lot of us suffered huge losses etc…& of course were made to feel later, that it was our fault for going ahead in the first place…JEEZ!!!
Did anybody else have similar experiences with 21st c.a. & PLANET WEALTH…[Andrew Dimitri & Bill Stacy]?
p.s. Google ‘Bill Stacy’..Then click on the search result “bill stacy?, page 3 aussie stock forums”
Where just two weeks ago, some of this subject matter was discussed, & Bill got torn to shreds over 524 posts & 15000+ views!!!
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