REUTERS-3:38PM EST, 04/01/98: In an interview on CNBC this afternoon, Mr. Robert Lichello, creator of the Automatic Investment Management system related that he's made many times the predicted $1,000,000 he promised his faithful groupies. "At one point I was up nearly $22 Million!" he stated. "My best years were early on when AIM was still a novelty to the market."
Further explanation showed that his relationship with Signet Books was had been very beneficial to him. In the mid-1980s he also sold countless "kits" to new A.I.M. users at $400 per copy. This was also of benefit to him.
As for the various investments he's made in the 20 years since first publishing his book, he said "I usually don't talk about individual holdings, as those can be taken as recommendations by the uninformed." However, he did mention American Solar King (AMSK), American Motors (AMC), Chronar Corporation (CRNR), and Cray Computer (CRAY). In each case he claims that, with the use of A.I.M. he was able to whittle away at the $22,000,000 to the point that he now no longer has any worries about estate planning!
In fact, the only year that Mr. Lichello ever made money in the market was 1987. During that year he had been experimenting with "AIM for the SHORTS" and got lucky with a bullseye when the market crashed in October of that year. The $22 Million made in royalties, however, in the last 12 years has all but evaporated in capital losses. "What the heck," said Lichello, "I never said I knew how to pick stocks!"
Still the optimist, Lichello feels that if the recent sales royalties from his book continue to grow because of INTERNET exposure, he should be ready to enter the market again in a big way. "My brother Jimmie always told me I'd be better off in bonds" said Lichello. For his next market entry, he is looking at investing in the long depressed asbestos market with the hope of a rebound. "The bulk of the law suits are over," he stated "and soon people will forget about the problems."
"If I just had thought of using a computer way back when I got started, I'm sure I could have beaten Bill Gates to the $1 Billion mark." claimed Lichello. "That guy just got lucky!"
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