Mr Clemen Chiang Loses Appeal at the High Court

Posted by jmot in Friday, November 27th 2009 under: General No Tags

The portrait in the papers did not catch my attention. He did not look like the high-energy educator I knew at all. My wife was the one who spotted the news.

Early this year a group of over 40 Freely students filed claims for the fees that they paid for his options trading course at the Small Claims Tribunal. The claims were filed on account that they signed up for the course because of his trading-related PhD. Subsequently, it was discovered that his so-call PhD is from a degree mill. Mr Clemen Chiang appealed to the High Court eventually. But ultimately, he still lost the case.

I guess appealing to the High Court was the only thing he can do. I heard that refunding the 1st batch of students asking for refund will open the floodgates to the rest of his 6,000+ students. There are already another 400+ students waiting at the Small Claims Tribunal for refund already.

Come to think of it, he is really plain unlucky. There could easily be over 90% of students from any trading school who cannot trade successfully after attending the school. In this business, it really doesn’t matter if your students don’t make it eventually. They always put in caveats, don’t they. It is not like the traditional education. I even know of worse trading schools and they are still running strong! Things may have turned out better if he hadn’t market his course with his PhD. He may still lose his business but at least he will get to keep his earnings so far…

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18 Comments Already

michael Said,

November 28th, 2009 @10:26 am

Fall of the Gurus…

fwchong Said,

December 9th, 2009 @1:25 am

I dont think you understand the full picture of it all. Did you attend the hearing at the high court. Do you know what the judge says to the Defence Lawyer and do you know what the Defence Lawyer says to counter back ? If you shrug off your shoulder and dont seems to care…let this a be warning for you and your future generation…

one day, there will be another so call guru who will tell you he has a PHD in FOREX trading and sell his programs and people come to sign up. One day, you found out that his PHD is fake and he get scott free because there is an example like Clemen Chiang who get away easily.

Do you want your future generation to be like us being cheated ?

I cannot imagine how on earth can we let a scum like him to go FREELY making money out of a PHD which he publish in his marketing brochedure to make money from the public…

I know a few borrowed money from credit cards and banks just to attend his talk and now are still paying for the installation and still making ends meet…

jmot Said,

December 10th, 2009 @4:58 pm

That goes out to all the rest of the educators out there!

michael Said,

December 10th, 2009 @9:07 pm

So jmot, you going to claim for your Mr Claimen Chiang refund…

Problem is government still refuses to regulate this trading seminars and provide avenues for fraud reporting.

tony5147 Said,

February 4th, 2010 @11:18 pm

Alas. This matter is over.

I’ve moved on from this earnings gapping analysis technique.

Took such a long time to wake up, not to mention the time and efforts put in.

sammy Said,

March 11th, 2010 @6:22 pm

May I add that on 19 Feb 2010 Clemen Chiang lost High Court appeal.

(Appeal against Small Claims Tribunal judgement. Freely Pte Ltd v Ong Kaili and Others. SGHC 60)

The story of two more CEO Preston University PhD holders in education sector itself.. is interesting.

One, Dr T Chandroo finally became a real PhD by own hard work and throw a party to journalists recently. Good for him.

Second, is also big CEO but ST reporter Sandra Davie somehow miss him out… Dr/Mr Maneesh Tripathi CEO of Global School International, it seems now he have to leave his international school (Indian school) soon although his school “retract” his Dr title after ST report came out. Dont know why its happening now, but this PR will be new CEO of Mediaring after MediaRing buyout by a tycoon from india and MediaRing change name to Spice I2I.

jmot Said,

March 12th, 2010 @10:50 am

Hi tony5147, well, good that we woke up right? Saw that you are starting to trade ES? I will frequent your ES blog =D

nightfalc Said,

March 14th, 2010 @10:57 pm

was talking to a psychologist that day and she said that a lot of these “gurus” use techniques taught in their professional studies in an unethical manner to gain commercial advantage from the masses… these techniques are hypnosis and embedded commands. NLP is also a powerful tool that can be subject to abuse.

The main distinction that one must be aware of is the intention of the person wielding the tools. These gurus just want to make fast money and have no checks in place with regards to conduct. Whereas a psychologist that has gone through a comprehensive study that involved ethics before technique knows its power and is subject to professional review if it is known that they abuse their skill and their patient’s confidence.

so the next time you think about going for a Rara seminar by Anthony Robbins / Success Resources / etc etc, BUYER TRULY BEWARE!!!!!!!!! now do you know why the SELL SELL SELL at the end of all their programs? coz they have gotten you in their mental “sweet spot” where you will SPEND SPEND SPEND.

michael Said,

March 17th, 2010 @12:32 am

nightfalc, I know you are bitter. Even in singapore, many are still like clemen chiang. Like the bald indian guy pretending to be forex expert. I think you can strike the killer blow at Clementi as he has clearly misrepresent his qualification. But direct your hatred towards the eventual legal action. If cannot, it’s time to let go.
For trading, learn from real experts whether in internet no need from ‘trading’ seminars in singapore. Most are confirmed craps. Or trading seminar whose trainers are fund managers managing a fund. You should be discerning now with your experience. 5 to 10 years from now, you will reap the rewards. Else other ways biz, join PAP etc.

yipee Said,

April 8th, 2010 @5:45 pm

Sammy, It is Global Indian Foundation’s CEO not Global School International but the foundation of Global Indian International School or GIIS in Queenstown area which is a very big private schools for foreigner Indians. The foundation CEO is the alleged fake PHD holder, but I have checked the school is not using “Dr” title on his name. You can check too http://www.globalindian.org.sg/Default.aspx?tabid=4581

By the way can one person be CEO of two companies ? Is it allowed ?

nightfalc Said,

April 15th, 2010 @3:01 am

Hi Michael,

Yup, I am indeed bitter about Clemen because he is living the life of luxury at the expense of his student’s who were struggling to give themselves a better future. Ex students I am coming across consists of cancer recovering individuals, physically challenged individuals, individuals who have been retrenched and cannot feed their families, individuals who had been living for fear of Clemen’s threats of launching defamation suits and etc.

Has he repented? NOPE! He is employing every underhand means to preserve his own wealth. He has declared that Freely is bankrupt and has no money. Do not worry about legal action, it is being investigated. Nonetheless, please indulge me as expressing myself on the internet takes but 30mins. Pursuing a legal action is going to take hours over days over weeks over months. =)

As for my real reason to write today is as follows….

with intel’s blow out quarter and earnings release last night, I have decided to demonstrate why Clemen course was such BULLS***.

For reference, please check out the graphic at:

http://bit.ly/b8AsZE

Clemen’s method was essentially using AT THE MONEY Options to bet on an earnings release prior to announcement. INTC announced an excellent quarted so let’s see what happened to its prices? With hindsight, our vision is 20/20, so I know the calls were the ones I should have bought. Also, with this same hindsight, I know that the stock reacted to the news in the right way (PS: announcements can be as it is, the stock will react how it wants).

So what happened to the wonderful leverage of options? WOW!!! The Apr 23 Calls did indeed get a 34% return. AMAZING!!!!!!!! Not so, coz if you ain’t making a minimum of 100% return on such a method, you are losing money overall. Why? Because when you lose, your chances of a 100% loss is HIGH!!!! And the best traders are only directionally right about 50% of the time.

Why 100% loss? Now, let’s look at the Apr 24 Call. WOW!!! The price dropped by 50%!!!!! And this is with the stock moving in the direction of your bet!!! Imagine if it went the other way? Say bye bye savings. =)

Yah yah, clemen did tell us to buy front month options only if we were VERY CONFIDENT (duh…. smoke babies ah?) So what happened to the May Options? May 23 Calls went up 30% and May 24 Calls went up 25% (WAAAH SO MUCH!!! *Sarcasm*) , while the 25 were 0%. The key was not confidence, it was volatility inflation. The May options had not been inflated so folks who were lucky enough to guess right still managed to squeeze out some tiny profits. Did he say anything about this during his course? Nope, his words were… we do not need to learn about “the Greeks” (aka volatility) just like we do not need to learn how an engine works to drive a car or something along those lines….. start to see the “SMOKEEEEE”?

hope this enlightens those of you interested in options or learning about options. if you find someone sharing things similar to Clemen, RUN LIKE A SPEEDING BULLET!!!!!!

jmot Said,

April 16th, 2010 @10:25 am

Hi nightfalc, welcome back! Your bid to raise awareness abt CC has won my respect.

nightfalc Said,

April 17th, 2010 @6:00 pm

hi jmot,

thanx for the words of encouragement. i guess it is just my nature, I am not the type who let those who have taken advantage of me get away scott free. also, i am sure folks like Clemen will just go into hiding until the wind blows over and return to prey on the ever present novice. so i will try to keep making sure this wind howls and screams loud and clear. =))))))

Everyone,

anyway, wanted to share the flip side of Clemen’s method after seeing how “effective” Freely was when the market moved in your direction, so let’s see what happens when OMG occurs.

Google is a wonderful stock right? (45o up up and away chart lehhhh => Clemen’s idea of reading a “good stock”)

Google reported earnings last night and it was fantastic!!!!!! but… the stock crashed. Huh????? WTF happened? Thought clemen said the stock must rise? no leh… their CEO decided to do a disappearance act for their conference call and that panicked investors, so stock…. down down and byeeee.

Check out the following for an illustration of the option prices:

http://bit.ly/bccJkU

Underlying stock dropped 7%

At the money options before announcement was
Apr 600 Calls => 100% LOSS
Apr 610 Calls => 100% LOSS
May 600 Calls => 82% LOSS
May 610 Calls => 85% LOSS

can you hear the KA CHING? Say “WOWWWW!!!!!!”

So this is the result of Clemen’s deep research for his PhD huh? No wonder it had to be from a Degree Mill as which idiotic University would have even allowed a submission of such nonsense?

anyway, on top of being a rant about my disgusts with Clemen Chiang, hope this also serves as “education” to those trying to enter the world of options. If you want to play with options, YOU NEED TO UNDERSTAND VOLATILITY! =)

michael Said,

April 17th, 2010 @10:41 pm

Jmot and Nightfalc and even Tony, all as victims of clemen misrepresenting his qualifications, hope both of you get your refund and all other victims too. Hope a precedent case will scare all fake seminar sellers out of the market. May justice be done!!!

nightfalc Said,

April 21st, 2010 @9:45 pm

The summary of the appeal (http://bit.ly/dlmQpM) and Clemen LOST!!!! Now he is trying ways and means to hide his sorry behind.

Yes, there are those who are critical, sarcastic and think they are know it alls. Please do check out the article. If it was too heavy reading, then maybe you should relook at how intelligent you think you actually were. *wink*

michael Said,

April 22nd, 2010 @12:27 am

That was certainly hilarous.

nightfalc Said,

April 22nd, 2010 @12:16 pm

okay. want to see how Clemen lies? Even in front of a judge he tries his best to bend truth.

I refer to the link I provided above ( (http://bit.ly/dlmQpM) regarding Clemen’s appeal against the lawsuit under 11(l)(ii).

“(ii) The online portal contained accurate and up-to-date information.”

curtains… drum roll… ta da…
check out the two links below to see how his site were inaccurate and even backdated by weeks to months!!!!! I started to get annoyed in late 2007 when I realized the data was reflecting 2 week delay. Of course Clemen’s next step was to remove me from his Google discussion group for raising such concern.

http://bit.ly/cvBfEA
http://bit.ly/cZvvxr

nightfalc Said,

April 23rd, 2010 @9:17 am

okay. enough of putting Clemen down. Actually His method does work!!!! Check out AAPL’s earnings!!!!!!!

With my vision 20/20 again and having been busy the day after their earnings and hence allowing figures 2 days to develop, which fortunately were both up days, his method generated fantastic returns!!!! (Stock Moved Day 1: 6% & Day 2: 2.8%).

http://bit.ly/cdS5Eq
May 250 Calls => 290% Change
May 260 Calls => 340% Change
Jun 250 Calls => 240% Change
Jun 260 Calls => 270% Change

Want to learn how to do this? I will show you!!! =) Get a crystal ball…….

Essentially, the prices managed to jump because they indeed exceeded the street’s expectations, AAPL had a good conference call without demonstrating any need for concern on the stock, and it is the darling of the stock market!!!!

Comment from some of the traders on the news the next day was “in this current market, you cannot deliver in line figures as it will punish the stock, you need to exceed expectations.”

So how was Clemen’s method any different from buying Toto? He said he could foresee whether earnings would exceed the expectations of those who spend every working hour analysing the stock? And that the board was going to paint a clear blue sky in the conference call? HUH? THIS IS CALLED TIKAM!!!!! Now I understand why his tone and mannerism was as if he was God. You need to be God to do predict such things!!!!

This shall be my last entry on the matter as I believe I have covered all angles. Through its development, you should have realized by now that his method can possibly generate fantastic returns but at a very low probability. You know what that is? GAMBLING!