Is James Altucher A Scam – Or Not

I was asked the question is James Altucher a scam. A friend of mine had recently purchased his newsletter, and was  disappointed. Someone had sent him a promotion through the mail for the Altucher Report, so he signed up for it. After a few months he learned quickly it was a bit light on actual information but heavily promoted more upsells. I had the same newsletter some years back, and I know they are professionally written articles designed to get your money into their pockets. How do I know? Because I read them as well,  and they came from Agora Publishing. Is James Altucher a scam, let me show you what I found out.

    • Name   – James Altucher
    • Website https://chooseyourselffinancial.com/
    • Price    – $50.00  to  $2000.00 USD and upsells
    • Owners – James Altucher
    • Quality – low quality information/ Filled with ads 
    • Overall Rank – 1/10
    • Refunds – Pro-rated on subscriptions – No refunds on High Priced Items
    • Verdict –  Avoid – Completely misleading 

Table of Contents

An Overview – Is James Altucher A Scam

James Altucher runs the Chose Yourself Financial website, and is the author of the book Choose Yourself. I know he formally had  at least one of his newsletters published through Agora Financial. And by the look of his website pages, and you see a strong resemblance to the same type of sales hype Agora is famous for. So, I venture to guess, the publishers at Agora are likely handling some, if not all of his research material in the newsletters.

James produces many products, and has a storied background of forming companies, and running a hedge fund. That is all great stuff to hear. But, it seems like his products fall short.

The Secret Income

This is a newsletter that James produces, and I saw a video of James having people type in a company name, and type sell, and it produced a profit of a few hundred dollars. People were amazed, and he made some bold claims. It was featured as an ad for one of his products.

It went something like this.

He was choosing people at random and asking if they wanted to make money. Then he would tell them to type something inside his account, and it would show money appearing in the account. I am guessing it was a put option sale, and he was receiving the premium.

I watched him make the trades in his demo video, and he is selling naked puts. He tells people all they have to do is push a few buttons and make money. The truth is, it is much more complicated than pushing a button, and collecting Money. if it were that simple, everyone would be doing it!

The fact is that you need some real cash in your account to do that. A lot of cash! In fact, my brokerage account demands you have $25,000 minimum in your account, to trade naked puts. I don’t claim to be any expert on selling put options, But, is is true the seller of the options usually make the money. Most options expire worthless, so you can make money.

But, not always. You can take a loss, and depending upon the value of the underlying stock, it can be substantial.Most people don’t understand this. I know, I traded options.

Is James Altucher A Scam – Options Are Risky!

These are risky investments if you don’t know about them, LEARN FIRST OR STAY AWAY!

They are confusing instruments until you learn how they work. Let me explain why they are risky. A put option means you have the right to sell the stock at a set price, if the price goes lower, ( the put option price value increases) depending on the time left on the option, you keep the profit. It is like insurance or a hedge against the price falling. Time decay is another problem that means the price you get when you sell(or buy back)can vary widely. The closer the option gets to expiration, the less value it contains.

If you sell a put(100 shares) on a stock and then some news event causes the stock to drop 50%. Suddenly, you are stuck for half the price of 100 shares of stock when the put buyer wants to (put it to you the seller!)

Simply, you lost 50%! If you sold the put option (100 shares) when the stock was $100 x100 = $10,000….now (100 shares) are only worth $5,000 you lost $5,000. Options can lose value quickly.

What if his recommendations involve a $350 stock like Netflix? 100 shares cost $35,000! Would you be able to take a loss like that? $16,000! It is very possible! Netflix fell from over$400 in July to $250 in the most recent downturn in December 2018.

 

Learn How Options Are Traded

Click the link below for a short video explaining how you make money selling put options

HOW TO SELL PUTS

The Security Exchange Commission SEC rules  state that Small Traders must own the stock before they sell the put, and you can see why. The risk is NOT spelled out before you buy Altucher’s Secret income newsletter. AND you must have at least $20,000 in you account. Now, big money traders, don’t play by the same rules.

It seems to me that a person who did not know about the risks would believe he is going to make a lot of money and not be aware he could lose a ton! This is not trading for seniors or beginners. And having a home service, you normally watch the profits disappear into a loss before you get your alert to sell. Not to mention you need quite a bit of cash to buy the underlying stock and maintain your minimum balance. And you need to watch your portfolio closely. Very risky.

 

 The Newsletters at Choose Yourself Financial

These are the products that James Altucher has listed at his website Choose Yourself Financial

  1. The Altucher Report-  Published monthly-2nd Monday – what stocks to buy -what business to start- Advice on family $$ survival.
  2. Secret Income – weekly every Tuesday- additional alerts if needed.- Put selling service.
  3. Top 1% Advisory – Published monthly every 3rd Tuesday + Weekly updates – Sharing his professional advice.
  4. Altucher’s Crypto Trader- Monthly issues on 3rd Friday +weekly updates and additional alerts as needed- crypto currency guide.
  5. Altucher’s 420% Syndicate – Sent as needed-expect bi-weekly reco’s- update on alternate weeks- buy/sell alerts as needed- unique research service on small marijuana stocks and selling options.
  6. Profit Line Alert – At least once a week- alerts sent as needed – The Unstoppable Trading Machine- Works using the go zone for buys and a fall below the profit line for sells
  7. Altucher Alliance – Includes all services (including any Future Services for Life) Plus added bonus- The Choose Yourself Guide To Self-Publishing- and the Real Estate Trend Alert.

 

 The Gimmick If You Don’t like the Newsletter

The newsletter service cost $2000 a year.  He says he will guarantee you will SEE how to make at least $3000 every single month! You notice he says he will show you how to make $3000. It does not say you will make $3000. and if you don’t here’s what he will do for you.James Altucher Ad For Crypto Currency

You get the entire next year free!!  Really, who wants another year of a lousy newsletter?

How about a refund? Refunds are prorated, so after a year, you get zero. The higher priced products – no refunds.

This is a risky deal, if you don’t like it, kiss your money goodbye.


What Do Others Have To Say?

I found a few comments about James Newsletters. They give an idea of what others have to say about some of the newsletters.

Some customer Comments and what they had to say about his newsletters. 

 

Here is another customer who found the Crypto Currency trading Method that James Altucher teaches to be of little value.

Eric Conley is a former Head of Equity Trading at Northern Trust, a Senior Trader at Oakmark Funds. This is a person who knows what a newsletter should contain for good trading information.

Comment Posted On James Altucher Calling His Crypto Currency A Sham

 


Is James Altucher A Scam –  Free Crypto Masterclass

Another customer, Brian Shuster, gives an excellent account of what is behind Altucher’s Masterclass Training on trading Crypto Currencies.

You can read the entire article here.

Here is a brief statement taken from the article.

Comment On James Altucher Video On Crypto Currency Trading just A Sales Pitch Selling A Trading Service

Is James Altucher A Scam – The Altuchers Report

My personal experience was his Altucher’s Report that I subscribed to a few years back. I was also underwhelmed with the service.

It followed the same path as much of Agora’s publications, not must worthwhile information, but gobs of up-sells!

They follow the traditional marketing method of leading customers down the old sales funnel. As Brian points out, they have three price points. These are examples of price area marketers use to target customers in general.

These are not actual prices for Altucher’s reports, they are just general marketing price points that Brian points out.

  • [$100-$300] >Initial sale- You are a Lead at this point
  • [$1000-$20,000] > the up-sell – Necessary to Make Money!
  • {$60,000 +}  >  The Ultimate Method To Explode Profits!

This is a typical scenario for ALL Marketers. It just illustrates a pattern used commonly by marketers.

James Altucher’s Newsletter services follow the same type funnel, and he uses this service to bombard people with every product that Agora publishing offers. However, I am not able to afford the top end products James sells, so I will say I don’t know his top price point.

One Up-sell Is Tolerable, After That It Gets Annoying

I can understand maybe showing you one upsell for the product a customer buys. After all, that is what marketing is about, to try to make more money. I accept that.

But to offer a service, that is mediocre at best, then try to sell everyone else’s product inside this service is a sham. It is like asking people to PAY for your service to “SPAM them to death”.


Pros And Cons

Pros

  •  8 Newsletters
  • Good Sales Pitch – Recommends Products
  • Very Convincing Ads – Bold Claims
  • Publishers Produce Convincing Copy

Cons

  • Low Quality Content – Claims Are Exaggerated
  • Too Many Ads and Up-sells- Recommends Other Peoples Products
  • Misleads – Training Seminars Are Hyped Product Ads
  • Newsletters –   80% Product Ads and Hype.
  • Support Doesn’t Answer Phone Calls Or Emails

Conclusion – James Altucher is Misleading – Avoid

My advice for my readers is to avoid the products. There are many better products available at much lower cost, that give better trading advice. Is James Altucher a scam? It is a close call, I will say no, because he produces content, and products, but the quality is not the best.

His websites state most products are NO REFUNDS. That is always a red flag, buyer beware.

Another reason why I think James Altrucher is not worth the money,  value. His service is based upon selling you over and over again. Not only his products, but every product offered by his publishers. It is nothing but one big continuous sell. The quality is not worthwhile, and misleading. The newsletter I had, was just a summary and I was mislead to believe it was going to be a valuable service. I didn’t find any true value in it. I would have to say Avoid

He also made claims for a training seminar, and it turned out to be just another ad for another product! Where is the training?

To have a service that is legit, you sell your service, and produce a quality product. People will enjoy the product benefits and come back. I don’t see the benefits of selling people outrageously priced products that deliver very little value. That is legally scamming people.

Tired of these scams?

If you are tired of these scams to try to earn a dollar, then you need a way to earn money the right way. no scams, no ads, no upsells, NO BULL. The one method proven to work time after time. You can work it anywhere you have a laptop or computer. Take a look and see how you can start your own business, with no big upfront fee to pay, and you don’t need a credit card.

<<<<< Get Started In Your Own Business Today – Click Here >>>>> 

 

If you have any questions or comments please leave them below and I will get back to you as fast as I can. I hope you found some value to my article, and I have possibly saved you from wasting your money!

Chas

 

 

 

James Altucher Financial

$50
1

James Altucher Financial

1.0/10

Pros

  • 8 Newsletters
  • Good Sales Pitch
  • Convincing Ads

Cons

  • Low Quality Content
  • Too Many Ads And Up-sells
  • Poor Support
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30 thoughts on “Is James Altucher A Scam – Or Not”

  1. Chas, I came across this scam site today. I wish I had known about this scam lord last year. I fell for his circus act in June 2020 and signed up for $4995.00 worth of worthless hog wash. I immediately tried to cancel, but despite any assurances, I haven’t seen any money.
    I needed to bring in more income due to my health issues. I am 70% VA disabled. I am wheelchair bound. I cannot stand or walk. I do bowel movements on a bedpan in bed.
    I pray to God that Altucher gets to do the same.

    • Hi Thomas,
      Thank you for your service! I am sorry you got wrapped up with this bum, I bought into a newsletter years ago from Agora Financial. They are the big financial publisher behind this garbage. They have been promoting sensationalism like this for years! Unfortunately, it is not illegal to be a stock guru. These guys are masters at promoting any stock, and if they send their newsletter to 500,000 people and 10,000 get lucky and make money, they are able to make millions by repeating the same garbage over and over again. They just promote each others scam in all the newsletters, and it perpetuates the rip-off!
      I can only tell you to check out Wealthy Affiliates, and learn how to set up your own website, just like mine…and you can promote any affiliate product you want, and earn money the honest way, from home. If you are looking for the get rich quick scheme, I can tell you…It doesn’t exist! They are all scams!
      If you want to get your money back, you can do it! Because, you are handicapped, they have taken advantage of someone who is disabled! The law is on your side!
      The first thing I would do, is try again to contact James Altucher through his newsletter or Agora Financial. Tell him you want your money back. You have to get serious and angry about it, and tell him you are going to contact the attorney generals office, and you need to know ” who will be accepting calls from the AGO? You need a business phone number and their business address where the written correspondence can be sent? Do this first! Because the Attorney Generals Office will ask if you have done it anyway. Then, keep sending emails and contacting them every few days for about two weeks. Tell them you are reporting them to the FBI, and FTC for ripping you off, you want your money back! Keep repeating that!

      They will tell you , you can’t get a refund, and it’s too late and Blah, blah, blah! Tell them you are a disabled veteran, and they have taken advantage of you. And you aren’t going away! You want your money back! You have to fight just like you are in a war, because you are! Sometimes, they cave in and return your money! I can tell you, it is worth the fight! I just got $5000 back from the Kibo Code this year! It works! I didn’t even have to contact the AGO. They don’t want them snooping around! And they don’t want complaints filed with the FBI and FTC either!

      If worst comes to worse, and they simply ignore you after repeated emails and calls demanding your money back. Then, contact the Attorney Generals office, follow my checklist and they will help you!! Explain your situation, and tell them you have been scammed.

      Nobody is going to fight for your money like you are, and attorneys are expensive and do little to help. But, contacting the scammers and filing reports is all free to do, and it works!
      Thomas, I wish you all the best in your fight, and I will help you anyway I can. Just try it!
      Chas

  2. My experience has been similar to others. Since last June I have only had ONE successful trade. I made $160…hardly enough to offset the $2000 membership fee. I have sent MULTIPLE emails asking for feedback and support and have never received a reply of any kind. He said upfront he would not give a refund. In hindsight, I now believe it is because he knew he would be failing us!

    • Hi Lynn,
      Sorry to hear you lost money. I know from experiencing the same results with Money Market Press. These guys are all the same. The advice they give is not very good or timely at all. They promise a quick easy big profit system, but it is mostly junk and ads to make them money.
      You could try to contact the Attorney Generals Office in your state, and see if they can help you get a refund. Tell them you contacted them several times and never got an answer. It’s a scam and James knows it. File another complaint with the FTC. If enough people complain, they will investigate him.
      If you need any help, let me know.
      Thank you for taking the time to tell your story, please stop back.
      Chas
      Chas

  3. I, too, joined the Altucher bandwagon. I initially got the Altucher Report. Then, as you all have said, I continued to be barraged with ads for more and more products. I bought the Altucher’s Alpha Brain for $2000 which I could ill afford. Altucher said how anyone could do it and quickly make $2000 back and more.
    Well, I tried for weeks, up early and ready to go when he sent out his recommendation. I never once could catch the option at the price point he suggested. I have become so frustrated and angry. I would never recommend any product from the Altucher network. I have tried to get my money back but to no avail. I may try my AG in Oregon to see if they can help me. Just learned that from reading the comments today. Wish I’d found this website sooner before I lost so much money.
    Sincerely,
    Sarah

    • Hi Sara,
      I am sorry to hear you got caught up with this guy. They do bombard you with ads and make everything sound wonderful, but it is just not true. I have to wonder if he was just quoting prices that weren’t possible to achieve. Who knows? I played around with options years ago, but just lost money myself listening to others promising the same thing. The value can turn to ash quickly. The money is made in selling the options to someone else!

      Yes I think you should try the AG because you have nothing to lose but a little time. Often they can shame these guys into coughing up a refund. When you file your complain, just point out how you were deceived and tell them the guy is a scammer. Taking the case to an attorney could cost you as much as you lost already, unfortunately.
      But the Ag is free of charge. Let me know if I can help in any way. Good luck!
      Chas

  4. Yes, Altucher is a scam artist. I fell for his “Glitch Alert” scam on George Gilder’s website back in March. It sounded great!, but after paying for it for a 3 month trial period, ($69), I never got a Glitch Alert once. Just a couple weeks ago they charged my card $550 without my authorization or even a notice. I am still waiting for the refund. STAY AWAY FROM AGORA FINANCIAL OR ANY COMPANY USING THEM AND DEFINATELY STAY AWAY FROM MR. ALTUCHER!!!!!!!!!!!!

    • Hi Steve,
      Sorry to hear about your encounter with James Altucher and Agora financial. I hope you reported the unauthorized charge to your credit card company. If you don’t get any refund soon, call them and tell them you want a refund. I would be sure to ask who is the manager responsible for the case and tell them you intend to file a complaint with the Attorney General’s Office in your state (if you are in the US). Continue to demand a refund, and file a complaint with the FTC as well.
      Good luck, and let me know if I can help.
      Chas

  5. I fell for this scam. 20000.00 for nothing but terrible stock market tips. I have lost more money on his predictions than gain. Do not do it.

    • Hi Donna,
      I am sorry to hear you lost so much money! Unfortunately that is what happens with these guys! I don’t know if the FTC or the Attorney General could help, but it might be worth filing a complaint and see what happens? You never know!
      Chas

  6. I was about to subscribe to the Altucher’s Report Newsletter when I came across your comment that the report is a scam. Thanks for your warning.

  7. Hi Chas,

    A few days ago I watched one of James Altucher’s fishing videos about the “Altucher Investment Network”. The video was talking about how “easy” it is to make money with “Cryptocurrencies”, so I did try the “Altucher’s Investment Network” newsletter for $ 49.00. After getting the first letter and watching the next fishing video, that wanted me to subscribe to the “2-Minute Retirement Rescue”, which after watching wanted the “small” subscription fee of $ 3000.00. That was the time I was looking up “Altucher Scam”, and that is how I found you.

    I instantly canceled my subscription with the “Altucher’s Investment Network”, and the interesting thing happens when you call the service number that is listed in the Q&As, then a “Agora Publishing” agent answers the phone! Cancelation was pretty eventless, and I got told that I will receive a refund in a few days.

    I think this definitely shows that the “Altucher’s Investment Network” is to be best avoided at all cost

    Thank you for you research, and best regards,
    Ed

    • Hi Ed,
      Good to hear! It makes my day to hear I was able to help somebody save money because they did some simple research.I am surprised you got your refund! Normally they pressure you into buying something else. If you read Craig’s comment they cancelled a lifetime subscription!
      People like you encourage me to keep me going!
      Thanks for your comment Ed, and stop back.
      Chas

  8. Hi; My question on this topic is: Why is there not any help coming to victims of this “low-class” “business sector” from Cyber protection? 

    I have read through your article, and I fully understand what you are doing for the innocent. People need to be aware of the many traps set out there to deceive online opportunity seekers; These traps are designed to suck out the last drop of financial blood out of the innocent.

    I had suffered in many ways from these people like James Altucher. My latest spell came in late April when I bought a WordPress traffic producing Plugin. I paid my money, but, the Plugin does not exist. The culprit asked me for time to develop a training webinar which he wants me to attend. 

    Thanks for the many who you have helped with this your article.

    DorcasW

    • Hi Dorcas,

      You bring up a good point! My opinion is this. Big money is being made by the corporations like Agora Financial that produces these newsletter scams. They have all the clout with the governments and get laws passed to help the billionaires, not the innocent! I am sorry to hear that you got scammed as well. They will tell you anything to get you to believe your are getting your money back, or an actual product.

      Thanks for leaving a comment, And please stop back!

      Chas

  9. This is interesting. I have a work collegue that trades cryptocurrencies, and he’s always looking for advice. The problem is, how do you know the advice your getting, is coming from the right people. In my opinion, the ones offering advice are the ones that can’t make enough money themselves. Appreciate you introducing me to James Altucher, I’ll advise my collegue to steer clear.

    • Hi Nigel,

      James Altucher has lived the gambit from rich to poor and back again. He has not earned his money by working for it. he used other’s to help him look good. I can tell you I have had many advisory newsletters and memberships, and even the good ones are guessing what will happen, because nobody really knows! You have to use your own judgement. 

      Thanks for leaving a comment, and please stop back.

      Chas

  10. Honestly speaking, I hate reading about all these big claims programs and products because they only promise in a vacuum, what they can never achieve even in the next 2 years, let alone within 1 month. The upsells in this James Altucher newsletters are really huge! And to me, if you could raise $60000 to get this kind of product, that means you are ready to waste your money. The comments I saw while reading the post are big turn offs. Also, I’m not really that educated in stock trading. Certainly not to the level that I will spend this much, when I can read and formulate my working method for myself. 

    Thanks for clearly exposing another scamming product!

    • Hi Ro,

      You are right! That is how they fool people into believing they are somebody that they need to spend big money to get advice from. Other people have commented on the faults and shortcomings of James Altucher’s products. I would advise anyone, to take charge of their own stock portfolio’s! nobody will watch your money like you do!

      Thanks for leaving a comment, and please stop back.

      Chas

  11. I am getting angrier every day with this crap. For every true helpful site for online earning, there are 1000s that are garbage. If the site promises “how to” videos or text, they’d better actually deliver. Also, what would 8 newsletters be useful, if they are 80% add spam? 

    Thanks for the research,

    Take care!

    • Hi Silky,

      I agree it is maddening to see more and more scams. I couldn’t even find that video anymore, it was a joke. You are absolutely correct, they are not any good, just more bait in the water to reel em in! That is why I got sick of the newsletters, nothing but ads!

      Thanks for stopping by and leaving a comment!. Stop back again!

      Chas

  12. Nothing about James Altucher looks like a good idea! Beside the few little pros you have listed, the cons are gigantic. And really, what’s the point in receiving 8 newsletters, when there is nothing of value in the newsletters except for upsells? I truly am tired of reading about these scams. I’m glad there is a better option out there in wealthy affiliate

    • Hi Josie,

      Nope, he is a bad idea! He sells more newsletters, to get more people on the hook. But, They soon get tired of all the ads. You have the best option right there! WA is my #1 Recommendation.

      Thanks for leaving a comment. Please stop back soon.

      Chas

  13. Thanks for reviewing James Altucher, I never heard of him until now – but to me, every product/formula that claims to have an expensive secret behind is a scam. I mean – if that secret was so amazing (and real), everyone would be using that product. Besides, James Altucher’s formula also has several upsells – which is another warning sign to me.

    Conisdering that the support never replies or answer back (not even if you call them), it’s pretty clear that there’s something wrong with this program, that’s what I personally think. But I will surely not give out to much money trying it out, there are so many cheaper programs out there that offer much better training (WA is the best example).

    • Hi Ashley,

      You are welcome. It is good that you found this review before you got tangled up with this guy.His sales copy is good, and that’s why people believe he is offering something, but it is just hype! They hit you with the up-sells right away, while they have you biting, before you find out the truth. Glad to hear you are keeping your money! WA is my #1 Recommendation!

      Thanks for leaving a comment, Ashley. Stop back!

      Chas

  14. Thank you so much for this post! I have heard of James Altucher and believe I may have even recieved emails from him at some point (I must have unsubscribed because I don’t recieve them anymore.) I never considered jumping into any of his programs, and for good reason based on this article. Thank you for making my life easier by rating these online programs!

    Ben

    • Hi Ben,

      You are welcome! I am sure you probably did because the Agora Financial Group is huge and notorious for hype newsletters! Be thankful you got away from these guys. They are ruthless and they don’t give refunds until you bring them to the brink of hauling them into court. Thank you for your nod of appreciation, Ben, it is apleasure to help others stay away from these disasters!

      Thank you for leaving a comment! Stop Back!

      Chas

  15. Wow, I’m paying to be a lead? That’s a red flag in its own right. But the fact that these upsells can be up to and greater than $60,000 means the only way he can even generate a target audience is through upper-middle or upper class citizens who are sick and tired of their day job. There’s no way I’d ever recommend spending hard-earned money on a program with low quality plus endless upsells. 

    • Hi Todd,

      Glad you saw the point, and yes it was hard not to call this a scam, only because he produces a product. The prices are very high as well, so not for the faint at heart. I don’t know that James Altucher charges the uppermost of the up-sell game, but that is the general price range of these internet marketers!

      Thanks for leaving a comment! Stop back soon!

      Chas

Comments are closed.