Is Laissez Faire Books a legit company and can you trust them and the investment advice they provide? I was wondering the same thing after seeing some of their promotions online, and so I decided to do a little digging around to see for myself.
In this review I'll be going over things like what services they provide, who's running the show, complaints about them and more. You'll want to read this before subscribing to anything.
Let's begin with an overview...
- Company: Laissez Faire Books
- Industry: Financial advisory services
- Website: https://lfb.org/
What is Laissez Faire Books?
Laissez Faire Books is a company that publishes financial information, which consists of website articles as well as both free and paid newsletter advisory services. This is similar to many other investment advisory firms out there that publish financial newsletters, and you'll understand why after you see who owns the company.
They have been through a lot over the years and have changed hands quite a bit, but the company still remains true to their original ideals, which are that of a libertarian viewpoint. They are all for free-market, liberty, and the government not meddling in the lives of its citizens so much.
Fun fact: Laissez-faire translates from French to mean "let them be"... and in this case refers to the stance that the government should let their people be.
Who's behind it?
As just stated, the company has changed hands quite a bit. It was originally founded in 1972 as a book store that sold political philosophy, libertarian, and anti-authority books. Then in 2007 the company changed hands to be owned by the International Society for Individual Liberty... and in 2011 finally came to be owned by Agora Financial, whom still owns it today.
If you're unfamiliar with Agora Financial - it's an investment advisory firm that publishes financial information such as newsletter services as well. So basically Agora Financial bought out the company and then transformed it to provide newsletter advisory services just as they do.
Is Laissez Faire Books legit?
Yes, the company is legit. That said, there have been some complaints I'll go over... and you might already be aware of the fact that they love to lure people into their subscription services with misleading teasers.
Can you trust their advice?
Here at Green Bull Research we always recommend that you do your own due-diligence. While there are some recommendations they make that turn out to be good, not all do... as with any type of investment recommendation provider.
How do I cancel a subscription?
On the website their contact information is listed as:
- Phone: 877-453-1177
- Email: email@example.com
*Another email they provide is firstname.lastname@example.org.
They are opened Monday through Friday from 9 to 5.
If you have trouble getting a hold of them or aren't able to cancel for some reason, you can always file a complaint with the BBB. They're sure to respond if you do this, but only use it as a last resort.
As you know, Laissez Faire Books publishes financial information. This can be broken down into 3 categories:
- Free articles
- Free newsletters
- Paid subscription newsletters
Let's begin with the free articles...
Under this category there are yet more categories. You can find articles written under the following:
- Laissez Faire Today - These articles are published Monday through Sunday and cover a broad range of topics. Everything from tech news, to politics, to health and more. As stated on their website, each article "cuts through the lies and disinformation of the mainstream media, politicos and Wall Street".
- Money & Crisis - These writings are focused on... you guessed it... crisis, and how it can affect your financials. All sorts of stories are covered here, ranging from Russia trying to take over the world, to humanitarian aid being stuck at the border of Venezuela, to prices being hiked on medicines and more. (this service appears to have been discontinued)
- One Last Thing - This newsletter provides breaking news as well as market news & predictions. There doesn't seem to be much difference between this service and Laissez Faire Today... they both seem to provide a wide scope of topics and news briefs.
- Chart of the Day - This service is simple... each day a stock chart is analyzed and commentary is provided based on what the indicators tell us about the potential movement of the stock in question.
These free newsletters are nothing more than articles delivered to your inbox. So, for example, instead of going to the website and looking at the Chart of the Day or to read the latest article of Laissez Faire Today, you can just subscribe and have them send them to your email.
The following are what's offered for free newsletters at this time:
- Chart of the Day
- Laissez Faire Today
*Note: Within these free services they promote their own paid subscription services as well as services from other investment advisory firms, which should be somewhat expected since they have to make money somehow, right?
Paid Subscription Services
At the heart of what they offer are their paid services. Besides making money promoting other services, this is how they do it. These include:
- Laissez Faire Letter ($299/yr) - This is their flagship newsletter advisory service. It covers a broad range of topics and, in a nutshell, provides information to help people live wealthier, have more freedom, and to live healthier lives. Topics you can expect to be covered include things like tax reduction strategies, ways to get better health care, online privacy protection, saving money on retirement account fees, investment opportunities and so much more. Monthly newsletter issues contain most of what's offered here, but subscribers also get weekly updates. And all of this is provided by different experts of the team at Laissez Faire.
- PowerTrend Options ($5,000/yr) - This is an investment advisory service that is all about options trading. Here, subscribers are provided with options investment recommendations on a weekly basis, as well as updates and alerts to the model portfolio. There is also a 30-day training course provided, called PowerTrend Academy, which features video tutorials and quizzes so that beginners can get a start in options trading without knowing a thing. - this is very basic however. If it's a follow-along investment advisory that you're looking for, then this is it.
- Thunderbird Options Course - This is listed under "subscriptions" on their website, but isn't actually a subscription service. It costs a one-time payment of $250 and provides access to a full training course on options. The goal here is to train people on how to trade options themselves, and so this is how it differs from the basic options training provided when you sign up for PowerTrends Options.
Experts on the Team
- Doug Hill - There is a bit of a lack of information as to who's running what at Laissez Fair Books, but Doug Hill seems to be the main guy. He's the one that has the most input in their Laissez Faire Letter and he's also listed as the director of the "Laissez Faire Club". He's not an "expert" as some of the guys are listed, but is more like an organizer of it all, and has been involved in the publishing business since 1994.
- Chuck Hughes - Chuck is the guy behind PowerTrend Options as well as Thunderbird Options Course. He isn't some former Wall Street trader or anything like that, but instead is a former Air Force pilot that took to options trading after realizing being a pilot wasn't going to cut it for him and his family financially. Over the years Chuck has developed his own options trading strategy, the "X-ray" system, which he has managed to trade successfully using. He's been trading for decades now. Additionally, besides the options trading, Chuck is also the managing editor of the Chart of the Day free newsletter service.
- Shane Ormond - He is the managing editor of the articles categorized under "One Last Thing". Mostly what he writes is news-brief type articles, rather than providing any investment advice. Previously he was an editor at International Living in Ireland.
- Chris Campbell - Chris is the managing editor of Laissez Faire Today, which means most of his work is focused on news-brief type articles as well. Prior to joining the team here he worked as a researcher and contributor at SilverDoctors.com.
- Others - Other contributors you may see at Laissez Faire Books include people like Zach Scheidt (yes, the guy behind the "5G Cash" teaser), Ryan Cole, Byron King, Dr. Al Sears, M.D., and others. They tune in from time to time in publications like the Laissez Faire Letter. Some of these people work for Agora Financial, which let's remember is the company that owns Laissez Faire.
There really isn't much in the way of complaints here, and this is mostly due to the fact that Laissez Faire Books is rather small company.
That said, I did encounter multiple complaints about scammy marketing promotions for their services. I don't know what promotions were being referred to specifically, but I am well aware of how companies like this often engage in making misleading advertisements to lure in new subscribers to their different subscription services.
Just to be clear here, Laissez Faire Books is legit... it's just that sometimes they get carried away with their promotions and they can be a bit misleading - you have to take them with a grain of salt at times.
There was also a complaint I found with the BBB calling them a "shady company" for having trouble canceling a subscription.
Other than that there's not much to say here.
Conclusion - Should You Join?
So... the big question... should you join any of their newsletter advisory services or even pay any mind to their free publications? Well, this is ultimately a question you'll have to answer for yourself. If you are someone with a libertarian viewpoint, or close to it, then you may find many of their ideas refreshing, which are often contrarian compared with the mainstream media. Additionally, they have their options training services which offer a follow-along investment-type of service.
Hopefully this review has helped you out some, but you should continue to do your due-diligence before making any decisions. And, as always, leave us any comments or questions below. We like to hear back from our readers!