Parker Forrester

[parnechris]

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I have been offered shares in a Pharmaceutical company by Parker Forrester. They are currently $66 a share and they have offered them to me at $56 a share. They tell me they will hit around $80- $85 in the next 4 to 6 weeks. Is this to good to be true?

All comments welcomed

[Biggles]

Yes, it is.

[dunstonh]

why have you been offered shares? Email scam? illegal cold calling?

Cold calling on share offers like this are a breach of FSA rules and there is only one outcome here. You will lose most, if not all your money. NEVER NEVER EVER transact business on the basis of cold calling. Work on the simple assumption that its fraudulent or desperate.

[turbobob]

Scam! Report it to the FSA.

[Ian W]

Google "boiler room scam" for plenty of interesting reading including THIS from the City of London Police.

[beenburned]

I had been burnt in the past by an outfit claiming to be based in the UK and lost quite a bit of money. About 2 months ago I was approached by Parker Forrester. They told me that they had a strong recommendation on a Biotech company that was possibly going to go through a bid war and that I would stand to make a substantial return but should only move on the opportunity when they felt it was secure enough to do so. They suggested I open a trading account with them which would be at no cost to me in which I did. Once my trading account was set up I had received a call a few days later by Parker Forrester suggesting that it would be a good idea for me to fund my account in order to expedite a trade quickly as timing was always an issue. I ended up funding my account with the sum of 4,000 EUROS. About a week later they called me again and said they were looking at picking up a large amount of shares in this biotech company through there traders at an institutional level. They advised me to purchase a small position at a slight discount to its current trading price because of the institutional buy. At that point I became suspicious and said I needed to think about it. I looked for additional help through friends and chat rooms on this matter. In the end, most opinions were that I was crazy to fund 4,000 EUROS into a trading account to begin with. My instant reaction as per fear of loss was to contact Parker Forrester and demand my 4,000 EUROS back. To my surprise they did return my 4,000 EUROS. In retrospect if I had taken the shares at that time I would have made a substantial return. You be the judge!

[cheerfulcat]

Originally Posted by beenburned

About 2 months ago I was approached by Parker Forrester. They told me that they had a strong recommendation on a Biotech company that was possibly going to go through a bid war and that I would stand to make a substantial return but should only move on the opportunity when they felt it was secure enough to do so.

Legitimate brokers don't cold call. They most certainly do not give stock recommendations, unless you are already an advisory client.

[purch]

They are currently $66 a share and they have offered them to me at $56 a share

Never look a gift horse in the mouth .....they've got bad breath !!!!

[scammedb4]

Parker Forrester = Scam Scam Scam.

[scammedb4]

I was approached by a man named Chris on Tuesday who worked for this 'firm'. He was a sweet talking smart liar like the rest.DONT believe what they say.I get millions of calls a year from these pretend brokers. I have lost thousands on things like this. Avoid like the plague. Real brokers do not have time to cold call people. These people are scum.

[Cy Vance]

I have also been approached several times this year by different salesman from Parker Forrester. First they offered me a gold mine stock and then Imclone -- everytime at a 10% under the market price. Now how can they do this? Whatever the going price was, they offered me 10% lower.

I followed through, curious -- and they wanted me to send the money to their account in a little bank in Cyprus, which I had never heard of. So I checked them out in the internet: absolutely no good information about a company that claims to have thousands of clients and to have been in business for years as Parker and Forrester, two separate companies.

They claim to have offices in NY, Brazil and China. Well, on one site the NY office has a Chinese phone number and on another, a number that doesn't work -- Note a review on this site says they are in Bangkok, not China.

Frankly, I don't know where they are and I don't care -- But they certainly aren't who they claim to be and they're not getting any money from me.

[purple_heather_]

PF have been looking after me for about 6 months and have made substantial % gains. They work on information not speculation and buy huge portions of shares at the right time to offer their customers good deals. Anyone quickly discarding PF as a spurious broker without reasonable enquiry is cutting off their own nose. Of course they're on the FSA list of foreign companies touting for business. They have to make this warning as anyone sending money overseas as is beyond their compass of reproach. The FSA have to cover their own backs so they can bleet the usual rhetoric "well, we told you so."

Initially I was sceptical about the legal footing of someone calling from Shanghai but investigation proved PK on the list of firms approved by the Chinese equivalent to the FSA and are subject to scrupulous audits. I spoke to UK customers, too. My worries were pacified when the % gains made by them testified to their inner knowledge. They're so bloody good at what they do they needn't be scammers. You can ask the perennial question "If they're so good why aren't they living on their laurels in Bermuda?" Besides financial gain, they love it and they're probably driven ambitious people.

The comments I've read on this page are sour grapes for the sake of it and not one writer has actually been ripped off by the real PF. Proactive companies DO cold call. Terrific deals DO exist. Legatimate companies DO appear on FSA lists.

If you're thinking of investing with PF do what I did: over a few months watch their three or four tipped companies share price rise. In March 09 they recommended Genworth (GNW) at $1.10. At the time of writing (June 09) they're almost $7.

If you think PK are con merchants look at them in a couple of years and you'll find they're still there trading from the same offices. Con merchants are transient and get closed down.

I hope you've found this helpful and your initial thought that I'm am PK employee is the same mode of thinking that will stop you investing and missing.

[gozomark]

why would anybody possibly think you are an employee ?

[cheerfulcat]

Proactive companies DO cold call.

That's as may be - however, legitimate stockbrokers do not.

[Rollinghome]

Originally Posted by purple_heather_

If you think PK are con merchants...

It did cross my mind.

Could you explain? Parnchris has been offered shares for $56 that you, sorry they, claim are worth $66. What does that mean? The price of shares are based on what buyers have offered. Do you know anyone offering $66? If so, why not sell to them?

If they're so sure they'll be worth 50% more in a few weeks why don't the characters making the phonecalls buy them themselves instead of pestering the rest of us. Or perhaps get themselves proper honest jobs.

What does your mother think of what her son does for a living?

[Reaper]

It's amazing how both the posters supporting them felt moved to join a forum for the sole purpose of making a single post saying how great they are. Not suspicious at all.

My advice to posters here will remain as it always has - don't buy shares tipped by cold callers, particularly when those companies are based abroad and not regulated by the UK's FSA.

No exceptions.

[nrsql]

It's usually fun to look at the company and especially the shares they are touting.

Often the company that issues the shares have board members with impressive bio's but very little presence elsewhere on the net. Often the company web site was set up in the recent past and registered to someone in the far east or canada.
Also do a search for text from the web site - it's often copied from somewhere else.

Remember the longer you can keep these salesmen on the phone the less time they have to prey on someone more vulnerable.

[Biggles]

Originally Posted by Reaper

It's amazing how both the posters supporting them felt moved to join a forum for the sole purpose of making a single post saying how great they are. Not suspicious at all.

Interestingly, the other thing they have in common is that they both registered months before their first post, which was on this thread. Almost as though they were 'sleepers', in place ready to rebuff any adverse comment on their firm should it crop up in the future.....

Very odd.

[buy_the_gold]

Originally Posted by Biggles

Interestingly, the other thing they have in common is that they both registered months before their first post, which was on this thread. Almost as though they were 'sleepers', in place ready to rebuff any adverse comment on their firm should it crop up in the future.....

Very odd.

i would like to know what has happend to my last posting
as its ok for members to say what they like in here
i joined the forum to voice a fact but never mind

just one thing here i was cold called by and agent and i agreed to recieve a second call to talk about investments
so this company never really cold called me i am sorry

but i think they are ok at the moment i shall wait now before my next investment
as i have just today spend money on forex site with a company on the internet
with a nice little return of 2.24% for 150 days
very nice deal
anyway i jioned here today and cant believe the way you all treat people in here

have a great day

[dunstonh]

just one thing here i was cold called by and agent and i agreed to recieve a second call to talk about investments
so this company never really cold called me i am sorry

So, in other words, you were cold called and in that cold call you agreed to have a second call. The fact is that it still originated from a cold call.

anyway i jioned here today and cant believe the way you all treat people in here

We are just sceptical of people who join up and make one post promoting a service that is either dodgy or a scam and choose to ignore sensible consumer warnings issued by the FSA and the everyone else who knows what they are talking about.