Gorilla Trades is a standard stock picking service that costs $500 per year.
The owner of the business, Ken Berman of Jupiter Florida, seems like a nice enough person. But many of his claims appear to be bogus.
Instance: Ken Berman asserts to be the former President of Smith Barney and Paine Webber. He claims to have managed $100 million. Additionally claims to have turned $250k to $5.5 million in 18 months. None of this could be confirmed. In fact, FINRA or Financial Industry Regulatory Authority has no Ken Berman enrolled in any capacity — in short, his claims appear to be a mature dream.
The Gorilla Trades service looks innocent enough.
Ken Berman, the proprietor of Gorilla Trades publicly admits that he doesn’t really trade any one of his recommendations. This is a significant red flag.
Thanks for reading today’s review of Gorilla Trades
What’s Gorilla Trades and exactly what exactly are they selling? The Gorilla Trades site is a typical stock picking service. There’s not any monthly payment choice. The minimum subscription period is 1 year.
Anyone requesting a refund has to make a written petition within the initial 30 days. Following the petition for refund was made, the contributor will be deducted a charge of $70. While the refund isn’t a”full refund,” it is a better refund policy compared to almost all the stocking choosing providers that TradingSchools.club reviews.
You might also hit Gorilla Trades by phone at 1-866-222-6639. But, I wouldn’t suggest calling. In my attempts, each was fulfilled with voice mail. Nor were my calls . It might seem that the ideal approach to attain the provider is through email. The normal answer time for my mails was one-day.
In accordance with Archive.Org, the Gorilla Trades stock picking agency seemed sometime in 2000. To get a stock picking service, this should be regarded as a”heritage” stock picking service. Any stock picking service outside 15 years is very rare.
Gorilla Trades is currently occupying the following social media websites:
Gorilla Trades also advertises on traditional print media, as well as television commercials. In fact, just the other day, I awoke to a Gorilla Trades commercial. As a reviewer of investment products and services, waking up to their TV commercial really piqued my interest.
Who is the owner of Gorilla Trades?
According to different sources, including newspaper articles and listed infomercials, the proprietor of Gorilla Trades is an individual called Ken Berman. Taking a look at Ken Berman, it is possible to see he is bulging with muscles. He really looks like a Gorilla. For a guy in his 40’s or 50’s, it would appear that Ken is probably taking steroids. No matter he seems in tiptop physical condition.
Ken Berman has also made some extraordinary claims. Some are beyond view. Let’s cover a few of these supposed claims:
- Claims to be the former President of Investments at both Smith Barney and Payne Webber.
- Claims to have managed $100 million dollars in client monies.
- Claims to have turned $250k into $5.5 million dollars in only 18 months.
All of these claims should be easy to verify. Or so I thought.
Is Ken Berman of Gorilla Trades real?
My first step in investigating Ken Berman was a visit to Finra.Org.
FINRA is the Financial Industry Regulatory Authority and this quasi-governmental agency maintains all of the licensing information for registered investment professionals. These records are easily searchable, accurate, and go back to the 1980s. If a Ken Berman was ever the “President of Smith Barney” or “President of Payne Webber” or was a broker or financial advisor, then he should be easy to find.
However, according to FINRA, there is no Ken Berman that has ever been registered at Smith Barney or Paine Webber. In fact, the only Ken Berman that we could find, that could possibly match the Gorilla Trades ‘Ken Berman’ would now be 90 years old.
Next, I headed to SEC to search their database of registered and previously registered financial advisors. No matching Ken Burman.
I find this very troubling. In my experience, Finra.Org is very accurate and their records and databases are nearly airtight. Regardless, I next telephoned the Finra.Org Washington DC field office in hopes of finding anyone named ‘Ken Berman’ that was the “President” of either Smith Barney or Payne Webber.
Finra representatives notified me that they do, in fact, have these registration records and they are publicly assessable through the search portal. But no Ken Berman, according to Financial Industry Regulatory Authority, has ever been registered at either of these companies. The is a big red flag.
Additionally, Ken Berman makes the incredible claim that he turned $250k into $5.5 million in only 18 months. But where is the proof?
If you turned $250k into $5.5 million, would you be selling a $40 per month newsletter? Not me. I would on a sailboat with two young bikini babes. Drinking margaritas and enjoying my riches.
In short, this incredible (and not very believable) investment performance, coupled with the assumption that Ken Berman has never been registered with Finra, gives me multiple red flags. In fact, my fraud-o-meter is hitting the redline.
Gorilla Trades Track Record
Gorilla Trades does publish an official track record of trades. This track record is downloadable into an excel file in which users can view all of the trading recommendations dating all the way back to 2003. TradingSchools.club downloaded the track record and attempted to decipher both the long trades and short trades.
This advice should be easily digestible. However, this performance record isn’t appropriate for human consumption. In fact, we couldn’t make sense of their transaction histories and trading records — whatsoever. There are columns in which he supposedly sold 75% of the position, sold 25% of the position, and the overall percent percentage allegedly yielded.
But a great majority of the supposed trades were never registered as winning or losing transactions. You just cannot make sense of what seems to be a convoluted mish-mash of assumed exits and entries.
Very confusing. Not well organized. And a very unprofessional presentation. Example of the Gorilla Trades Portfolio below:
A track record of trades should be clean and well organized. It should present the performance with comparison to the overall SP500 market. This would give the consumer something useful and easy to digest. Perhaps this is the intention…to confuse the consumer?
Gorilla Trades Options
Gorilla Trades also offers a stock options picking service. However, there is no official track record of these stock options trades. On the contrary, it appears that the Gorilla Trades Stock Options trades are just general recommendations.
Once again, we found it confusing and not very helpful. I would definitely avoid even viewing the options trading recommendations. You will be left off in worse shape than when you started.
Do Gorilla Trades Work?
In my opinion, you simply cannot form an opinion. The information and track record are simply too confusing and incomplete.
For me, I want to see clear buy and sell records with accompanied win/loss percentages. And most importantly, I want to see the recorded drawdowns for the entire performance period. None of this exists. At least I could not find it.
Another question that I cannot seem to answer — what is the track record of ‘short trades’? Even a monkey (or Gorilla) can make money in a bull market. But what about a bear market? The Gorilla Trades website mentions short trades, but no official track record can be found. We are supposed to somehow dig this information out of a confusing and incomplete spreadsheet. Quite simply, you cannot digest the presented information.
Does Ken Berman of Gorilla Trades actually trade?
In my five years of writing trading reviews, I have found that the best barometer of performance — for long term stock pickers, is a clean and verifiable track record of actual trades. Even a single share of stock will suffice.
I want to see that the cook will eat the food that he prepares. And so, I sent an email to Ken Burman at Gorilla Trades in hopes of verifying any of this supposed amazing track record of trading performance.
The response from Gorilla Trades was truly pathetic. But it was honest. And it was as follows:
Please understand that the Gorilla does not actually purchase any of the stock or option ideas that are recommended by GorillaTrades, the Gorilla never trades his own recommendations.
So let me get this straight…you want a consumer to fork over $500 a year for ‘stock picks’ that you won’t even trade yourself? Sure doesn’t bolster the confidence. (This guy trades his own money.)
Ken Burman might be brave enough to lift a tremendous amount of weights in the gym, but ask him to take a risk with real money, on his own trading recommendations? No way Jose. That’s too risky!
Gorilla Trades Complaints
For a stock-picking company that has been around since the year 2000, you should expect to see a generous handful of complaints. In fact, Gorilla Trades has plenty of negative feedback.
However, I would also like to provide some context. Since Gorilla Trades is primarily a “long only” stock picking service, even a monkey throwing darts will make money in a bull market.
An examination of many of the consumer complaints confirmed our suspicions: When the bull market rages, Gorilla Trades will get plenty of positive user feedback. However, when the stock market goes lower, you can find negative feedback like a turd in a punchbowl. It’s easy to find. Examples:
In a nutshell; a total waste of money. After 3 months of use it became clear that these folks are in the business of selling memberships and not providing very good information. -Warren
I will be as succinct as possible……basically the service sucks……and they will be getting , “No More Bananas From Me” You are presented with too much confusing data. -Stan
Gorilla Trades — Pure crap. A waste of good money, and not the least bit educational, since they don’t disclose any meaningful information about their selection methodology. (Most likely a monkey throwing darts at a dart board.) -George
However, probably the most damaging publicly available complaint came directly from acclaimed columnist Ben Steverman, at Bloomberg.
In Ben’s article, he absolutely lambasted Gorilla Trades and declared that Gorilla Trades “performed far worse than the stock market as a whole.”
In my opinion, Ben Steverman’s article is probably the closest to the truth. And once you factor in that Ken Berman of Gorilla Trades refused to be interviewed by TradingSchools.club, then you know that something smells like monkey poo.
Wrapping Things Up: Is Gorilla Trades Worth It?
On balance, I would avoid this service. There are too many red flags.
The biggest red flag is that Ken Berman doesn’t seem to really be a former stockbroker or investment advisor. And that’s not my view, that came straight from FINRA. The FINRA investigator stated specifically,”this doesn’t seem good at all” and”we ought to have a record on this man.”
The next red flag is the assumed track record of turning $250k into $5.5 million in just 18 months. This can be facially implausible. And it doesn’t pass the sniff test. In reality, it seems’too good to be accurate’ In any case, if you earned $5.5 million, why would you’re peddling a $40 per month stock picking support?
Yet another red flag is the persistent complaints and the highly damning article from Bloomberg where they lambasted Gorilla Trades as “performing far worse than the stock market as a whole.”
And finally, the mealy-mouthed, lame ass story how Ken Berman doesn’t even trade his own picks is the stuff of cowards and con-artists.
I will keep my credit card in my pocket — and so should you. Thanks for reading. And don’t forget to leave a comment below.