- Report: #534300
Complaint Review: Diversified Trading Strategies - Chuck Hughes Advisory - Carlsbad California
Reported By:
Mark Morkovsky -
full time RV, Nationwide, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Diversified Trading Strategies - Chuck Hughes Advisory
6965 El Camino Real, Suite 105503 Carlsbad, 92009 California, United States of America
Phone:
760.444.0604
Web:
www.dtsinvestments.com
Categories:
Business Rating:
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Diversified Trading Strategies - Chuck Hughes Advisory Diversified Trading Strategies Lose Umpteen Thousands Your First Year in the GPS Advisory Service Carlsbad, California
According to the salesmen of all financial products "the numbers don't lie" so they show you "actual track records", and even "recent statements of actual customers". So did Chris Borgman of Diversified, regarding the Chuck Hughes GPS Advisory program. He claimed Hughes "always" made fifty to one hundred percent annual returns over each of the last nine years the program had been in existence. Good enough for me, sign me up!
I paid Diversified $6,000 for the GPS Advisory service, opened a $70k+ account with the broker Chris recommended, and have watched the numbers flounder over the last 11 months. Make no mistake, this was sold to me as an auto-traded service, EXACTLY like Hughes' account. In other words, I had to do nothing but open the account and provide the funds; the broker did the rest. Well, my account has been open 11 months, and to date has shown a profit of exactly one percent (net of fees) since account inception!
So how did I lose umpteen thosands the first year? Ever heard of lost opportunity? My Merrill Lynch account (where I took the $70k from) is up 30% over the same time period, and my own Scottrade account (I don't know jack about stocks; just started tinkering 11 months ago) is up 20% YTD as I type. So did I lose 20 or 30 percent, or some other amount? The "lost opportunity" by my logic is somewhere in the range of $13,300 to $20,300 due to the miserable results of the GPS Advisory service.
In the last 11 months I've learned two things for sure about investing: 1) it is true, the numbers don't lie, and mine are real, not some bad copy of a bad copy of a document with lots of black lines on it! Regardless of what Hughes states about his alleged actual returns, or who has allegedly verified them, my actual numbers have proven a 1% profit in 11 months, period. 2) the "money back guarantee" isn't applicable in my case according to Diversified, since I have "technically" made a profit! The last CEO and salesman team I spoke with about a refund also understand "lost opportunity" but say that since I made 1% I can't get my $6k back. They did promise me though that they have added another "free" one year of service to my GPS Advisory service since my returns have been so pitiful. I promised to call back after my account has been open one year, and if I've lost anything we'll discuss my $6k refund again then.
I hope the foregoing will show other potential GPS Advisory investment folks that this simply isn't the place to put your money, especially if you're going to pay $6,000 per year for the privilege of a 1% profit in 11 months. If I EVER see a 50% return on my account over ANY prior 12 month period I'll come back to this site, and since "MY numbers don't lie" I will show you the math, and be very happy to do this, because I would sincerely love to be wrong about this service! Until then though, best of luck investing elsewhere, seriously.
1 Updates & Rebuttals
Mark Morkovsky
United States of AmericaGPS making money?
#2Author of original report
Wed, March 24, 2010
After promising a lawsuit if my $6k entry fee was not refunded, I received the $6k refund within days. Since then my account (open 15 months now) has made 1.6%APR after accounting for the $6k refund. In other words, this is still a great way to make almost nothing on your money, since all my other money (except cash & checking) are ALL making WAY more than 1.6% per year!
