Ten bucks for McMillan's book? I think I paid something like $60 when I bought it a year or two ago. Yes, I bought it from TOC's bookstore, too! Geez. That means I couldn't even sell my copy on eBay... Oh, well.
As far as the OU stuff, back on June 13th I published a video on the blog laying it all out. I explained that they have a new membership site. I explained that with the course they're including a trial membership. Sure, what allows them to give copies of the course away is the fact that they have recouped their development costs but if the course is something that interests you this should be a pretty minor issue.
The complaints I've read today remind me of a charity golf tournament I was at several years back. A guy I know, who was a pretty good golfer, got a hole in one on a prize tee and won a "free" Mercedes convertible! I was really excited for him, and so were a lot of other folks. It was worth something like $30,000 and this guy won it for hitting a golf ball into the cup.
The rest of the day all I heard out from him was grumbling about the fact he was going to have to pay tax on the car, plus the license fees. It was actually effecting his game and bringing me and the other guys we were playing with down. I finally told him if he doesn't want to pay tax and license, just give the damn car back. Tell 'em you don't want it. Obviously, that didn't help because now he was shamed in front of the other two guys in the foursome. So, the rest of the day was lousy all because he won a "free" car.
I know someone will want to know whether he ultimately took the car... He didn't! He kept complaining about the tax and license and it got around the tournament. Finally, one of the tournament organizers took him aside and told him that he could take the cash value of the car and could pay the taxes from the proceeds. So, last I heard he got a check and paid the tax. I thought the whole thing was unfortunate because this guy has the money to afford the tax and license fee without problem and he could have driven that car for years, telling the story about how he "won it for free" by scoring a hole in one. Instead, he had a lousy day and couldn't tell you today what he did with the cash.
Luckily, he's not an options trader because if he read this post he would know I was talking about him.
Christopher Smith
TheOptionClub.
--- In OptionClub@yahoogro
>
> --- In OptionClub@yahoogro
> > Sorry, I cant take it anymore.
> > These guys seem sooooo sleezy. I have already gotten spam related to
> this.
>
> I'm with you, Ross. The hype level has been going through the roof.
> And the tone of the marketing materials is more in line with what you'd
> expect to see for hair-loss remedies or late-night TV trinkets.
>
> I know it may seem ungracious to complain about a free giveaway. But
> what I see happening here is, these guys have a sunk cost in development
> of this material, and a small incremental cost to produce DVDs.
> Presumably it's been out long enough that most of the people who are
> willing to pay $1997 for it have done so, and sales are dwindling. So,
> they decide to use it as a loss leader to promote the new subscription
> site.
>
> I actually managed to get into their server this morning. I found that,
> first, I was asked for $9.95 shipping and handling (or possibly $19.95,
> depending on whether Canada is considered "international"
> unreasonable, I guess, but it would have been better if they'd mentioned
> this up front.
>
> Second, by signing up for the "free" course, it turns out that you're
> also signing up for a $97/month subscription to their web site. Yes,
> there's a short free trial, and yes, it appears that you can cancel
> before paying even the first $97. But opt-out is not a classy marketing
> practice, in my book.
>
> This, combined with the over-the-top advertising and the flood of
> breathless emails, made me hesitate with my finger on the "send" button.
> Do I really trust my credit card details to these guys?
>
> In the end, I decided against it. There's so much good information out
> there -- so many decent books, courses, webinars, blogs, forums, etc. --
> that it's unlikely that this particular course contains the "secret
> sauce" I've been missing until now.
>
> (Visited TOC's bookstore and spent my $9.95 on "McMillan on Options, 2nd
> Ed." instead. Heckuva deal!)
>
> Martin
>
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