When it comes to money, if something seems too good to be true, it almost always involves losing your savings. Bernie Madoff, Nigerian princes, Tai Lopez and many more pray on victims wanting wealth without having to do anything for it. That brings us to Larry Benedict, whose programs are nothing more than a scam.
You may have seen this guy’s ads on YouTube which are all very long, very dull and make absolutely no sense. Essentially, Benedict’s message is that he’ll make you a lot of money if you give him a little money. That is because when you pay him, he’ll provide you with the secrets to have enough money to retire comfortably—his words, not mine.
This is all possible thanks to his One Ticker Trader Plan. For only $19, this “program” will unlock stock market secrets that help you make all the money you need. Again, his words, not mine. This should also be a huge red flag, by the way.
Why does a self-proclaimed millionaire who boasts about having the ability to make lots of money at any time need your $20? Oh, that’s right, it’s because Larry Benedict runs a scam and doesn’t have any wealth of his own.
If he was as rich as he claimed, your $19 would be meaningless to him. By his own admission, his system makes all the money a person could possibly need. Why does he need more money from you and, in particular, such a paltry amount?
My personal favorite is Benedict’s use of an InteractiveBroker statement as proof of how much money he made for one month a few years back. The thing is, I also have an InteractiveBroker account and get statements from them as well. In fact, here is one I received a month after this chump’s alleged two-million-dollar month happened. How do they compare?
Firstly, there is a huge section missing from Benedict’s statement. And considering he blurred out other parts of this document, something seems fishy here. Secondly, we don’t actually know how much he made because he blurred out the change column in addition to blacking out the rate of return under the total.
Speaking of that total, it just refers to the total assets in that account not how much was made over the course of the month. Moreover, the account could be anyone’s since it doesn’t have a name on it. Finally, the total box should have a line underneath it but that disappears once you get to the number. Seriously, Joe Niekro was more subtle when attempting to hide his deceiving ways.
It must also be stated that creating false statements is exactly what Bernie Madoff did to convince people he was successful. And we all know how that turned out.
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One Ticker Trader review
What do you get for your $19 when buying Larry Benedict’s One Ticker Trader? Basically, you have purchased a ton of e-mails and upsell opportunities in addition to some poor investment advice. At the moment, 33 of his 45 Trustpilot reviews are 1-star. That’s remarkable.
Those who have purchased One Ticker Trader all say something along the lines of “The advice he gives isn’t very good and if you want different advice, you’ll need to pay for it.” So, not only does this scammer need your $19 but also wants you to give him more money for services he already claimed to have sold you.
That doesn’t sound like a super successful stock market expert to me. Then again, Benedict refuses to tell you anything about him or his techniques apart from the fact they will make you rich. The Underpants Gnomes from South Park had a more sound business approach than this character.
However, the worse part of the One Ticker Trader can be found at the bottom of the program’s landing page where Benedict tells you in fine print that he’s about to gouge the crap out of you. For starters, when you sign up, you automatically agree to a $129 renewal every year.
But wait, there’s more. Should you decide to buy the stupid add-on he pimps out, you also agree to a $49 per month subscription to some other dumb club. And while you will be sent reminders about those renewals, there is a caveat that must be addressed.
The minute Larry Benedict has your e-mail in his database, you can expect to receive anywhere from 5-10 items in your inbox on a daily basis. This overwhelming volume of correspondence is designed to get you to either purchase his upsells or forget about your subscription by deleting everything sight unseen.
One last thing about this terrible program. If you read any article or watch any video with “One Ticker Trader review” and it has a link to his website in it, this is affiliate marketing. These articles almost always read as if they’ve been written by a non-native English speaker. What is this nonsense:
Anyway, these articles exist solely to generate the website hosting it money when you click the link.
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Larry Benedict is a scam
How do I know Larry Benedict is a scam? Well, he more or less admits it on one of his many websites. Here’s what the financial huckster had to say about his approach:
(Larry’s) been described as the “Ichiro Suzuki” of trading (after the Hall of Fame baseball player who had an uncanny knack for scoring)… And he has been likened to “Rain Man” when it comes to making money, because with him it just happens, quickly… and repeatedly, sometimes without plausible explanation.
Get out of town. No one has ever described this guy as Ichiro Suzuki. That comparison doesn’t even make sense. But let’s not get sidetracked by that. He also claims to make money, sometimes without a plausible explanation. Holy frick.
This is exactly what people said about Bernie Madoff back in the day. It didn’t make sense as to why he always turned a profit. And it turns out that’s because he wasn’t.
Look, Larry Benedict is not running a Ponzi scheme. No, he’s simply lying to people about his success as a stock market trader. I don’t know which one is worse but they both suck. Do not buy One Ticker Trader or anything else Benedict sells unless you want to lose your money, potentially lose more money on top of that and have your inbox overrun with marketing e-mails.
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