Some of you might have seen or heard of this company in your quest to find a tool to help you in the equities market. Some of you might have found them after googling "Vector Vest scam". Some of you might have recently received their marketing email. It is this marketing email that I want to being to your attention:
This is an outright lie. CML did not perform 97% in three months. The chart range for that performance is 15 months. The same for ASR. Vector Vest are renowned for their deceptive marketing like this. They also only ever post their upside trades and never post their trades with any sort of transparency, so while they might call one or two right and use this in their marketing, their downside will be far greater - they don't ever tell you about these trades.
It should also be noted that while Dr David Paul claims to be the MD of Vector Vest South Africa, there is no such company registration in the country registered with CIPC.
Any company that lies to you in their marketing, is deceptive about its trades and who have to resort to spamming your inbox are more than likely trying to scam you. If it looks like a duck, quacks like a duck etc. One cannot assume that this was a simple mistake - after all, they made the same mistake twice in one marketing message; have been doing the same in the USA for some time; claim to be experts (a supposed expert in trading such as David Paul would hardly misinterpret a chart with such a simple error - twice!). This is plain and simple lying and it has been reported to the ASA as well, although they are a US based company - unlikely sanctions can be taken against them as I really do not believe that they have a proper SA presence.
They are currently marketing free workshops in CPT, Sandton & DBN. Based on their deception I would recommend that you steer well clear of them, and those who have bought anything from VectorVest, request an immediate refund. Do not work with a company that has to resort to lying to you to get you to attend a free course (another red-flag).
This is an outright lie. CML did not perform 97% in three months. The chart range for that performance is 15 months. The same for ASR. Vector Vest are renowned for their deceptive marketing like this. They also only ever post their upside trades and never post their trades with any sort of transparency, so while they might call one or two right and use this in their marketing, their downside will be far greater - they don't ever tell you about these trades.
It should also be noted that while Dr David Paul claims to be the MD of Vector Vest South Africa, there is no such company registration in the country registered with CIPC.
Any company that lies to you in their marketing, is deceptive about its trades and who have to resort to spamming your inbox are more than likely trying to scam you. If it looks like a duck, quacks like a duck etc. One cannot assume that this was a simple mistake - after all, they made the same mistake twice in one marketing message; have been doing the same in the USA for some time; claim to be experts (a supposed expert in trading such as David Paul would hardly misinterpret a chart with such a simple error - twice!). This is plain and simple lying and it has been reported to the ASA as well, although they are a US based company - unlikely sanctions can be taken against them as I really do not believe that they have a proper SA presence.
They are currently marketing free workshops in CPT, Sandton & DBN. Based on their deception I would recommend that you steer well clear of them, and those who have bought anything from VectorVest, request an immediate refund. Do not work with a company that has to resort to lying to you to get you to attend a free course (another red-flag).
