I think the best approach is to share an email that I wrote to Zacks this morning:
I will not be going beyond my free trial of Zacks Ultimate. Please confirm that my credit card will not be charged on expiration of my trial. During my trial so far, I have purchased 17 recommended stocks with an expenditure of $74,991. I have sold 4 of those and my net result at the moment as the market opens is negative $622. I would guess that will be heading down more today with negative futures. (It went down considerably more).
If this email is going to Kris Gaytko, my explanation is a waste of my time because being the incredibly ace salesman that he is, I will get an answer like this one from him:
Sandy, you’ve already read my full throated defense of Zacks in prior emails.
You said it yourself: “but the only thing that counts is making money - not losing it.”
If our research and picks helps your portfolio, by all means we welcome you as a subscriber.
If our research and picks do not help your portfolio, perhaps this is not the service for you.
Great salesman - should win financial salesman of the year!!
I found it rather amazing when one of your advisors was shorting Under Armour at the same time another was going long on the same stock. I further found it amazing when one of the managers decided to sell out of Netflix going into earnings. I happened to be an owner of the stock having purchased it previously and of course that sell recommendation made me wonder if I should close my position. By not following your advice, I was up $1100 more after the blow-out earnings announcement. Fortunately for my portfolio, I disregarded your advice.
Last year I also had a 30 day trial around the first of the year and lost just under $2000 during the trial.
Needless to say, I have been unimpressed with your performance.
As an aside, I thought that the brand new TAZR portfolio which opened last week might hold some promise. I purchased 3 of the stocks and paper traded the other 3 (I typically purchase around $4500 for each stock). Fortunately, the 3 that I paper traded are all losers. The net for the three I purchased with the three I paper traded is positive $88 - startling return on $26,869! (As an aside, I am well into the negative today - January 30th).
I would assume that no one at Zacks particularly cares about what I have to say in that I assume that Kris Gaytko is representative of your culture - seemingly uncaring about customer or potential customer opinions and/or observations.
BTW, I find it amazing that you do not publish your various portfolio results (as you used to) versus the S&P 500 as does every other mutual fund and financial service I have ever investigated. Gaytko gave me some inane response as to why you do not which simply did not compute for anyone with a modicum of logic. The S&P 500 has an appreciation of 2.44% going into today’s market. My result of negative $622 does not exactly match up to that performance in that had it done so, I would be positive $1830 rather than a negative $622.
Again, anything I wrote beyond telling you to not charge my credit card assuredly will fall on deaf ears - especially if Gaytko is the recipient of this missive! Again, please confirm that my card will not be charged on expiration of my trial.
One more comment not in the note to them. They make a big deal over their Zacks Rank. Here are two examples of how ridiculously inaccurate these ranks can be. FRAN has a Zack's rank of 1 - the top rating, but it was sold today by two of their portfolio managers. An example of a stock rated 5 by these rocket scientists is AMZN. Perhaps the service can be used to short their long recommendations and go long on their shorts! Avoid these boneheads who are too ashamed to publish their portfolio results.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
1 of 1 people have found this review helpful.
Was this review helpful?
Yes
No