I like to listen to his radio show and of course when he sent an e-mail about his workshop I read it but I felt something was wrong, it seemed too good. How come, you only win, you can't lose at all?
"For example, as I write this GLD is selling at $1600. Right now I can sell someone the right to sell me GLD at $1600 any day up until January 18th next year and I will receive $102 per ounce. In other words if he sells me the gold my cost will be $1498 – and if he doesn’t sell it to me (because he could sell gold for more in the open market), then I keep the $102 per ounce he paid me. And I can sell another put."
And actually you can lose, if the gold falls under $1498, but he didn't say this in the e-mail?
I would not implement this strategy - even if I learned how to - but I would invest with Michael Campbell, I would prefer to pay a fee rather than being emotionally involved buying and selling options.
I wrote to him to set up a fund that would implement this strategy and I am sure there are more people like me who would buy into this fund.
He didn't answer and I suppose he will not do it, too complicated, it is simpler to do a workshop.
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