Porter Stansberry
Frank Porter Stansberry, is an American conservative subscription-based investment advisor and the creator of the 2011 online video and infomercial entitled "End of America" (77 min).[1] Commercials advertising Stansberry's "End of America" video and website (with narration by radio host Alex Jones) have been featured on an array of U.S. media outlets.
Career
In 1999 he founded Stansberry & Associates Investment Research, a private publishing company based in Baltimore, Maryland.[2] He is currently the editor of Agora's Internet financial newsletter Porter Stansberry's Investment Advisory, and the weekly trading service, Porter Stansberry's Put Strategy Report.[2]
Agora Inc.
Agora Inc. is a Maryland corporation based in Baltimore, which as of 2003, publishes books, magazines, newsletters and operates at least fifteen financial web sites in the United States and Europe.[3] The publications include: The Cutting Edge, Penny Stock Advisory, The Red Zone, Taipan, Rogue Trader, The Flying V Lockup Trader, CSX Trader, Fleet Street Letter, Options Hotline, Outstanding Investments, Richebacher Letter, Daily Reckoning Investment Advisory, Carpathia Letter, Strategic Opportunities, Jim Davidson's Vantage Point Investing, and the Contrarian Speculator.[3] In 2003, Agora publications had well over 21,500 paid subscribers.[3]
SEC lawsuit
On November 14, 2003, the U.S. Securities and Exchange Commission filed Civil Action No. MJG 03 CV 1042 against Frank Porter Stansberry, Agora Inc. and Pirate Investor LLC.[3] At the time Stansberry was the editor of two of Agora's internet financial newsletters: Porter Stansberry's Investment Advisory and PirateInvestor.com.
Stansberry's compensation was based in part, on a percentage of the revenues realized by those on-line publications.[3]
In the 2003 suit, the U.S. Securities and Exchange Commission accused Porter Stansberry (writing under the pseudonym Jay McDaniels) of "engaging in an ongoing scheme to defraud public investors by disseminating false information in several Internet newsletters."[3] According to the SEC the "newsletters contain(ed) nothing more than baseless speculation and outright lies, fabricated to induce investors to pay Agora (or its subsidiaries) for subscriptions or purported inside information."[3] Furthermore, the SEC alleged that Stansberry "employed devices, schemes or artifices to defraud", "made untrue statements of material fact", "marketed false insider information" and "engaged in acts, practices or courses of...fraud or deceit."[3] The SEC court filing ends by noting that "(Agora's) newsletters have continued to publish e-mails promoting numerous securities accompanied by fantastic claims of quick profits or inside information."[3]
Ultimately, in August 2007, the U.S. District Court for the District of Maryland ruled in favor of the Securities and Exchange Commission and fined Stansberry $1.5 million dollars.
Financial predictions
United States
Stansberry's 2011 online video and infomercial entitled "End of America", paints a very grim picture of the financial future of the United States.[1] The 77 minute video forecasts the end of America's global economic dominance, which Stansberry predicts will ultimately result in rioting and protests across the country.[2] The last eighteen minutes of the video consist of a sales pitch by Stansberry to subscribe to his investment newsletters for the "half off rate" of $49.50 a year.[4]
Europe
In an August 2011 online debate with James Altucher, Stansberry predicted that Europe's debt crisis will only intensify in the coming year, with Italy's Unicredit being "the next big domino to fall."[5] Stansberry predicts that once Unicredit falls, Germany will not bail them out, and that in fact Germany will leave the European Union within the next twelve months (by August 2012).[5] Additionally, Stansberry predicts that the U.S. Dollar will lose its reserve status and the U.S Treasury "bubble" will burst.[5] As a result of these oncoming financial calamities, Stansberry recommends that investors convert their assets to 50% gold and 50% cash, if they're not willing (or able) to actively short stocks.[5]
References
- ^ a b "The End of America”: Porter Stansberry Sees the Future ... And It's Grim by Stacy Curtin, Yahoo! Finance, February 16, 2011
- ^ a b c Porter Stansberry Profile at Townhall.com
- ^ a b c d e f g h i Securities and Exchange Commission v. AGORA, INC., PIRATE INVESTOR, LLC and FRANK PORTER STANSBERRY (Civil Action No. MJG 03 CV 1042) by the U.S. Securities and Exchange Commission, November 14, 2003
- ^ "The End of America" by Porter Stansberry Research, full video at YouTube with fast forwarding/rewinding capability (unlike the original)
- ^ a b c d Dow 20,000 vs. "The End of America": James Altucher Debates Porter Stansberry article and video at Business Insider, August 17, 2011
External links
- "End of America" — full online video by Stansberry Associates (77 min)
- Alex Jones interviews Porter Stansberry on InfoWars.com — Part 1 - 2 - 3 - 4 - 5
Editorials by Stansberry
- The Greatest Economic Disaster in Recorded History by Porter Stansberry, Townhall.com, April 8, 2009
- Three Ways to Protect Yourself From the Coming Chaos by Porter Stansberry, Townhall.com, April 9, 2009
- Stop the Lies Mr. President by Porter Stansberry, The Austin Report, April 16, 2011
 | This article has not been added to any content categories. Please help out by adding categories to it so that it can be listed with similar articles. (September 2011) |