Seminar: Gate 2.
Who runs it? Will Beagles and Simon Hart.
What’s claimed: Ma ke huge profits from rising, static, and falling stock markets. You can be a millionaire in 10 years starting out with pounds 1,000.
Validity of claim: They show how a pounds 1,000 stake doubled in a year and re-invested with the same success for a further nine years equals pounds 1m. They back up claims with charts of Next and Marks & Spencer which both doubled in one 12-month period.
Magic moment: Beagles worked for Lloyds Bank during the 1987 stock market crash. He was earning great money but made so much for the bank, he worked out he could make much more working for himself. His CV shows he worked in currencies, not equities.
What qualifications? Both Beagles and Hart say they have worked for banks as well as trading options and futures as independent dealers. They say they teach courses for Virgin, Banque Nationale de Paris, Barclays, Scottish Power, the European Commission, the London Stock Exchange and Scottish Power as well as hedge funds. As they do not recommend shares, they do not need Financial Services Act approval.
Cost of follow on course: “Worth pounds 5,000 including a manual we could sell for pounds 2,000” but actually pounds 1,800. “We don’t make a fortune out of it” they say.
Wealth warnings: Occasional and very scanty. Lots of talk of options and spread bets but no recognition that most lose out.
Jobs & Money rating: 1/10. The free seminar is less frenetic than some. There is a layer of useful material but nothing that could not be found for a fraction of the price in a book.
