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Edge Traders / Can not be trusted

CMJT Capital ManagementMarlboro, NJ, United States Review updated:
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I've been a member for slightly over a year (still waiting for Sam to teach me how to trade profitably, it's really frustrating), and he charges my credit card $26.00 a month each and every month for the Omnovia conference room that we meet in every day. He swore to me and every other member of Edge Traders/trading Zoo that he doesn't make one red cent from this and simply passes the charges he gets from Omnovia directly to us. Well, nothing could be further from the truth.

A conversation with Omnovia confirms he was getting a special low rate by prepaying which averaged anywhere between $10-$13 per person.

So, not only did he lie through his teeth about passing along the fees, he also had the audacity to make a handsome 100% profit of his students--ones who had already paid him $6000 to learn to trade. The man has zero integrity and probably not much money either--at least not from trading his own account. Why would he need to rip us off for small bucks?

For the sake of argument, let's say he has 100 room members and is making a $13.00 a month profit from them. That's $1, 300 a month and $15, 600 a year for simply marking up another service and giving us, the members, no additional value.

So we circle back to the same question which has been raised by others: If he is making so much money trading his own account, why does he need to cheat us members and make us pay double what Omnovia charges him for the lousy conference room. D**n, there are plenty of FREE room providers he could use. He runs this business like a tool booth on the NJ turnpike, taking more money from his students every step of the way.

In Yiddish, there's a word for people like him. It's goniff. Stay away from Sam Baum. He can't be trusted.
Va
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Sa
  7th of Nov, 2008
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Truth be told you are trying to bash me in public because you got fired. I guess people can read the rest of the story somewhere else. Go back to your life. How is it that for as long as you were employed by me there were not a single negative post about us...you get fired and you go and sign up all over the place with different names and emails trying to bash us?
Sa
  7th of Nov, 2008
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Just to show the pathetic little liar you are. I just called OmNovia to ask them if they ever spoke to someone regarding our invoice their respond was "Our policy doesn't permit us to talk to anybody regarding invoices unless you are an administrator of the company and we can validate it. You are obsessed with revenge for being fired and to use other peoples names as if to show you have credibility what a joke. Get a life
Jo
  12th of Nov, 2008
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If you conduct a search on Google for Sam Baum, Edan Aharony, Edge Traders, Magnolia Capital Management or Trading Zoo--all entities operated by the Sam Baum--you find a tremendous amout of consistency in the complaints.

Also, it clear the owner is hostile and unprofessional. Blaming an ex-employee for telling the truth is a low tactic that tries to move personal responsibilty from yourself to others.
Mr
  13th of Nov, 2008
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Sam Baum is conman. I was a student of his and he was constantly preachinng the importance of discipline and how he"doesn't take a trade unless the money is lying in the floor" to be picked up. I found his trading style difficult to copy, so instead I invested in his managed fund Magnolia Capital Management since he said he was one of the best traders un the US.

Well, truth be told he lost over 70% of my money over a couple of days in early March because he never used a stop loss and he kept chasing his losing trades. He had no respect for our money or us. We were just pawns for him to earn 25% of the profits only to see him wipe us out while he kept all the fees.

He has no integrity and I regeret the day I met him. He has caused so many people so much pain. He uses his trading room which cost $6000 to hook struggling traders to let him invest their money.

There are very few honest vendors in this industry so be very careful.
Sa
  15th of Nov, 2008
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That is a lie, you didn't invest money with me, and I didn't lose 70% of your money. I should know... I know the results of my managed fund. You are a lier. The truth is all the posts you see Mr. "Joe Abboudi" are posted by 1 person disguising himself to different people. It's not hard to do you know...all you need i a free email account and you can bash any individual on line...I'm sure you know that very well Mr "Joe Abboudi" or should I call you Mr "Gg" or perhaps Mr "Kevin Rendol" the originator of this false and misleading post...we don't have a member named "Kevin Randol". This is all the same person.
Mr
  18th of Nov, 2008
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The only liar in here is you Sam.

I didn't invest with you? Let me refresh your memory. I started with you in June 2007 and by the fall I had given you almost $500, 000. And here's what happened. In late Novemeber, you lost 70%. In late Decemeber, you lost another 53% and in mid March 2008, you lost 72% of the account. That was the same time you decided to forever bury the perfomance from the Trading Zoo website remember? All you had to do was push the delete key and presto, the website says no trades. How deceitful and unethical is that?

When the dust settled, you single-handedly LOST over $370, 000 of my money by trading like a total novice while you collected over $60, 000 in commissions. You broke every single rule that you blabber about on your new website, Edge Traders. You don't know the meaning of the word discipline or integrity, because if you did, you wouldn't have blown our money without even blinking an eye.

And here you are trying to convince down on their luck or aspiring traders to pay you $6300 to teach them how to trade when you have absolutely no clue how to trade yourself. How ironic is that?

My pet fish could teach and trade better than you, Sam Baum. You are a cheap, street hustler who will take advantage of anyone who lets you.
Sa
  8th of Dec, 2008
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Get the facts straight, Barry Kellner. I don't take management fees only fees of off profits... so lets see... $60k commissions fees mean I 'allegedly' made you 1/4 of a million dollars before you handed your account to your pet fish, correct? What a low life tactic to try and get even with me for the fact I fired you. Liar!.

Why I bother to reply to your desperate ways, of trying to get even with me for the fact I fired you, is beyond me... get a life...GET A LIFE!!!

The truth be told that I have fired Barry Kellner, a disgruntle employee, a washed out trader, who joined our room in 2007. He in turn came back to me with an offer that he can get people to come and sample our methods and in return he'll get 20% out of everyone who signes up, I guess he couldn't trade for a living so he wanted to find a different source of income, well as it turned out his idea of getting people to sample our course is to go to trading forums and disguise himself as a regular Joe who is 'just trowing our company's name out there' to entice the curiosity of the bloggers, I didn't know about his shameful acts and when I found out I put a stop to it right away. After that he had no other way of bringing in people and the relationship became strenuous. Well, about a month ago I put an end to our relationship with a thank you letter and a check of $2400. Barry cashed the check and then a day after started his sick twisted vendetta crusade after me.

He is a liar and all he does is looking for ways to try and embellish our reputation. He is the one who comes out with all this posts. We have a proprietary system with proprietary set ups you can see me trade everyday live.

The same shameful tactics he used to embellish other vendors when he was working for us, are used to try and embellish us at the moment.

Let the truth be told,
Sam.
Je
  9th of Dec, 2008
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This bloke Sam is nothing but a snake oil scamster and a first class liar. HE HAS NO INTEGRITY. Why do I say that? Because on November 16, 2008, he made a formal apology to this employee on [redacted] for his abhorrent behavior and despicable conduct. And now, this excuse for a human being comes here to this forum to try to clear his name, by simply cutting and pasting the very same garbage that he apologized for! How's that for brass balls? He must think people who read these blogs are brain dead. What an insult to our intelligence.

Here is his apology:

"I want to apologize for the hurtful remarks I've made here in this forum.

I wrote 'a washed out trader in his 50' who still lives in a rented apartment'.
These words have hunted me ever since I wrote them and for that I want to apologize first to Barry Kellner and to all who got hurt by those shameful remarks.

I had no business lashing out like that even at the worse times of; frustration and anger.
Behind the scenes I sent a lot of email to Mr Kellner bagging him to please stop this bashful and defaming behavior, yet he continued with this acts, and in moment of haste and anger I set in front of my computer and lashed out like that.

Again, I apologize for these harsh words to Mr. Kellner and to every person these despicable words might have caused any pain.

No one, and I repeat no one, should be judged by his or her accomplishments but by the person he / she is. We are all god's creatures and we all have the same opportunities. Our achievements and accomplishments are just a reflection of our identity up to a certain point in time, but we're all capable of turning the corner at any given moment and achieve extraordinary results, we're all god's creatures and he loves us equally.

We all have in our pockets a check, given to us by god, for Millions of dollars, some of us have cashed it in already, and some of us are just waiting to cash it in.

Colonel Sanders was broke at the age of 65 but using his first social security payment for $105 he started one of the most well known franchises in the world, KFC Chicken.

Again, I wish I could take those words back, but since I can't, I can only offer a sincere apology.

Sam."

His apologies, like his trading and training skills aren't worth one red cent. What do you expect from a con artist, who has like 4 different aliases and lost HUHNDREDS OF THOUSANDS OF DOLLARS of his students' money who he connived to let him trade so he could reap big fees with no recourse if he failed. And failed he did, bigtime. He sold himself as an expert trader and posted false entries on TradingZoo performance page to prove his results when in reality, he couldn't trade his way out of the men's room. The guy is a joke and everyone in the industry know it.

Just re-read his classless and unprofessional remarks about an ex-employee who he accuses of lying, then apologizing and then doing the same gutter tactics, saying the same thing on another forum.

This bloke Sam is a desperate man who doesn't know right from wrong, truth from lies and only wants one thing in life--to take $6300 from honest hard working people when he knows his product is 100% pure middle eastern snake oil. Do a search on Google of TradingZoo, Edge Traders, Edan Aharony, Sam Baum and you'll get all the due diiligence you'll ever need. And don't forget to ask him (or any other trading vendor) for 6 months of certified trading statements from his personal trading account before you spend a dime. He won't do that (they never do), so you really have no choice but to walk away.

On second thought, run, don't walk, away from this bottom feeding scavenger as fast as your feet will take you.
Go
  17th of Feb, 2009
Agree Disagree 0 Votes
is this the same Jerry who was going to work in the same kind of position Kelski had before the Zoo changed to EDGETRADERS?
Ha
  27th of Apr, 2012
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True Edge Trading - No performance
True Edge Trading
United States

I purchased blender from True Edge Trading but it didn’t perform as good as promised. It couldn’t blend nuts, once you start doing so it just got stuck and stopped spinning. Eventually after a month of poor service it failed completely. Company refused to take it for warranty repairs because they were sure that I’ve broken it on purpose.

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