Michael Parness
The story of Michael Parness is an interesting one; he went from park bench to college graduate in just a few short years. After making $150,000 in his sports memorabilia business, Michael Parness lost nearly his entire savings on bad advice. After losing it all, Parness studied the market and market psychology so that he would know the business inside and out. With careful investments based on his research, Parness is now a multimillionaire and gladly shares with readers a number of strategies that have worked for him in various markets. Despite his method late-night infomercials, the method taught by Parness actually encourages investors to learn about the market. A marked difference among many others pedaling fast wealth is that Parness also allows each individual to determine how much or how little risk they want to endure to make money. Although his style is somewhat different, there is no argument that Michael Parness provides readers with more information to succeed, setting him apart from his contemporaries. Unfortunately I find the same problems with Parness that I have found with many financial gurus that claim to teach me about wealth expansion; no solid advice or evidence. What does not set Parness apart from the pact is his reliance on anecdotal evidence as fact. Parness has made money apparently with his system I would argue that most of his financial success has come from his infomercials, books, and pricey services to help you on the path to financial freedom. The systems and services offered by Parness do seem to work, but not for everyone. Before you make the decision to shell out your hard earned dollars for his services consider other business ventures that require less risk. Remember that prior to his teachings as a financial wizard, Parness was already a successful business man with the tools to succeed in other areas. If you don’t have the capital to invest heavily, and if you can’t afford to lose a large sum of money then this system isn’t right for you. However, if you have extra money lying around that you’re eager to invest/lose, with a little hard work and doggedness you could make the Michael Parness system work for you. Through his books and infomercials Michael Parness does offer information that one can use if interested in becoming a professional trader. However if your goal is financial independence there are many other ways to go about it than becoming a full time trader. Learning to trade is a process that takes a long time and despite the success of Mr. Parness, it is not something that can be conquered in a few short months. Trading stocks is a complicated matter that requires a wealth of knowledge, not a B.S. in English. Mr. Parness can certainly give you some of the tools you will need to become a successful trader, but paying money for his books and courses is no guarantee that financial success is yours. Stock trading is competitive and risky, and if you don’t have the money to risk then your business venture will be short-lived and you will be back to square one. If making your money work for you is your goal, there are much easier ways to go about it than following the advice of Michael Parness.
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