Real Estate Opportunities - Wade Cook
Number of Customer Reviews for Wade Cook: 10
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Wade Wade Wade…yet what I believe to be one more con man promoting real estate and the stock market. Maybe he should have stuck to driving a taxi. Well I was one of the suckers buying Mr. Cook’s real estate course many years ago at one of his seminars. This was back in the 1980’s. Man did he get me excited. I bought everything. I thought finally this is it…I am going to get rich quick with the money machine. What nonsense. I fell all over myself and just humiliated myself with professionals that saw me coming.
Oh boy another sucker that just went to a no money down seminar. If you are reading this do yourself a favor and do not buy any of his stuff new or used. Considering he is in bankruptcy I guess his goose got cooked on the back of many unsuspecting customers.
To add insult to injury back in the late 90’s I went to his seminar and bought his W.I.N. service. Well that was a quick loss of 40k following his trades. I need my brain checked. Twice this guy burned me. As far as I am concerned I hope he has to go drive a taxi again.
If you want to invest in real estate and or the markets study, study, study. This is serious business. Your financial well being is at stake. Put a plan together that is realistic. Paper trade a system in the markets before you invest one dime. In real estate put a team together and make money together. The team needs to consist of all the people necessary so you can consistently close on transactions.
By the way when this gentleman crawls out from under his rock again, and he will, definitely pretend like he does not even exist.
The following is very pertinent information on Mr. Cook:
1) “My name is R. M. and I mean it when I say that Wade Cook has nothing to offer people other than a two day "hyped-up" seminar designed only to get more money out of people on the second day of Wall Street Workshop. COOK U! COOK U! You will be cooked all right, out of about $10,000 additional dollars! I believe the only purpose in Wade’s mind for putting on the Wall Street Workshop is to quickly give you in one day, 11 stock market strategies, and then hammer the poor folks the second day to purchase a Cook University for approximately $10,000 after deducting all of Wade’s special used car lot discounts if you buy now!
After working with Wade for almost one year I got sick to my stomach listening to him LIE to people. I watched this greedy guy cheat his speakers when they sold those expensive Cook U's by not paying them. I watched other employees in his sales department get cheated out of money due to Wade’s constantly changing their squeeezzziee easy commission schedule. I watched and listened to Wade tell folks that they could get all sorts of OUTRAGEOUS RETURNS if they would just buy his seminar. GAMBLE GAMBLE GAMBLE is what I saw!
Simply put, Wade Cook gambles with "your money" in the stock market and then lies about his returns on the internet with W.I.N. (See Barbara Masters statement on Gary's World).
If any of Wade Cook’s occult people receive this message please keep in mind that I am deeply offended by Wade Cook writing the phony book BUSINESS BY THE BIBLE. Mocking God is very offensive to me. I want to be very clear that I AM NOT BASHING Wade, I am simply telling you how it is and you Wade Cook followers know it too. Its very difficult to get the Wade Cook ether out of your brain once he hooks you in with all his yak yak yak and "ether."
You need to know that you do not need the Wade Cook’s of the world or a stock broker to give you advice. Point in fact, if Wade Cook or brokers had the answers to which stocks to buy they would NOT BE ASKING YOU FOR YOUR MONEY. Simply put, they would be like Warren Buffet, too busy buying stocks and making money and they certainly would not be taking valuable time to call on you trying to get into your wallet!
The only reason why I decided to go to work for Wade Cook was that I really thought that Wade would make contributions to individuals and their families. The only thing that I found to be true was GTM!! GTM!! GTM!! (Get Their Money!!)”
2) “Bankruptcy Judge Orders Wade Cook Into Liquidation - BLOOMBERG NEWS
SEATTLE – Wade Cook Financial Corp. was ordered liquidated by U.S. Bankruptcy Judge Thomas Glover after the money losing stock-market seminar company's chief executive failed to provide testimony requested by creditors.
The creditors of Seattle-based Wade Cook Financial asked the court Dec. 19 to force the company and its subsidiary, Stock Market Institute of Learning Inc., into bankruptcy, alleging employees hadn't been paid back wages and that their health insurance was canceled after the company collected and pocketed premiums.
Wade Cook’s Financials "failure to respond to the discovery requests have prejudiced and irreparably harmed" the creditors "by denying them the ability to adequately prepare for trial” wrote Glover in ordering the Chapter 7 bankruptcy. In Chapter 7, a trustee liquidates the bankrupt company. The trustee supplants the existing management and is legally obligated to serve the best interests of creditors.
Chief executive and founder Wade Cook said he will ask the judge to convert the case to a Chapter 11 reorganization. "Nobody is saying we haven't been struggling financially," said Cook, who at one time advertised heavily and frequently held seminars in Utah.
Cook predicted a year ago that the company would earn $6 million in 2002. The company lost $6.2 million in the first nine months of the year, according to a filing with the U.S. Securities and Exchange Commission. The company had $16,000 in the bank on Sept. 30, according to an SEC filing. The filing showed liabilities of $11.5 million and assets of $5.7 million, leaving a working capital deficit of $5.8 million.
Michelle Carmody, an attorney for the creditors, said the company failed to provide any financial records requested under bankruptcy law. "We had a deposition scheduled for Wade Cook on Tuesday. He didn't appear," Carmody said. The market value of Wade Cook Financial's outstanding shares is $720,000. The stock gained 9 cents to close Tuesday at 20 cents in over-the-counter trading.
In October 2000, the company, which charges $6,295 for its 16-hour "Wall Street Workshop," settled Federal Trade Commission charges that it misrepresented its stock trading success to attract customers. The company disclosed that it lost 89 percent of its stock portfolio's value in 2000 and 60 percent in 2001. In a filing with the bankruptcy court on Jan. 15, the FTC estimated the company still owes $1.5 million to its former customers as part of the settlement.
Clearly, I do not recommend Mr. Cook. If you hear his name run to the hills while clutching your wallet to your chest.
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