Can WADE Cook of Asia be far behind: "Wade Cook Financial (OTC BB: WADE) Long the poster boy for get-rich-quick schemes, Wade Cook recently has become the darling of state and federal investigators. Although Cook boasts about an impressive track record in the stock market, his own company's shares haven't fared so well, hitting a recent 52-week low of $0.56. And the company's own portfolio isn't something they'd want to trot out at any of its hundreds of annual seminars. According
to documents filed with the SEC, Wade Cook Financial lost more than $800,000 last year on its $6 million portfolio.
That loss came in a year when the S&P 500 gained 33 percent. Another problem for Cook's ailing empire is the
recent departure of one of his top lieutenants, John Childers, who also has agreed to cooperate with investigators.
Wade Cook Financial puts up plenty of warning signs for astute investors, including excessive self-promotion of its
products, outrageous success claims that are largely unsubstantiated, outlandish predictions about future achievements
and a product that hardly seems to be what the company claims. Although thousands of people continue to pump
money into the corporation - mainly through seminars, books and tapes - it's up in the air whether Wade Cook
Financial will be able to hold up to the scrutiny being focused on it by government regulators.
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