Trader and co-founder of RagingBull.com, Jeff Bishop has a net worth of $3 million in 2021. Raging Bull is a popular trading education business he runs with Jason Bond that recently ran into legal trouble but appears to be restarting operations again.
Bishop claims to be one of the “world’s top real money options traders” and has over 20 years experience in the market. He advertises himself as a savvy options trader and is one of the greatest traders since sliced bread. Well at least in his own mind he is, Jeff’s not exactly a humble guy. He boasts about being a member of MENSA, an exclusive “high IQ society” made up of people who score within the 98th percentile on an IQ test.
Jeff serves as the CEO of Raging Bull and holds a degree in finance and economics from the University of Texas. After graduation, he got a boring office job but later quit to pursue trading as a full-time career, a ballsy move! Not long after trading full-time, Jeff met and mentored future business partner Jason Bond for a couple of years. Bond at the time was a public school teacher in New York, drowning in debt and eager to make money.
In the past, Jeff has stated he’s made millions trading stocks, options and ETFs but specializes in options. To my knowledge he hasn’t released any brokerage statements to verify his trading profits. Today, he’s more focused on being a passionate teacher and helping others to follow in his footsteps.
Over the years, Jeff has created various trading programs and advertises them aggressively to his target market online. The ads I’ve seen on YouTube are mostly of Bishop on a private jet, pleading with you to join his service. I like how he gives the products cool sounding names such as Weekly Money Multiplier, Bullseye Trades and Total Alpha Trading. The courses were high-ticket items and mostly cost thousands for an annual membership.
One of the biggest difficulties around Jeff Bishop is finding reviews from real members. Raging Bull has a lucrative affiliate program and trading websites will give positive reviews to earn commissions. From looking around online, it’s clear not everyone has positive things to say about Bishop but that’s normal for trading courses.
A user named Jesse Russell on Quora, wasn’t afraid to give his opinion and believed Jeff and Jason are sketchy.
“Look, I can go to the casino and brag about the time I put $100 on 27 black at roulette and made 3,800% profit! So pay me money and I’ll show you how.”
“If they are only hand-picking times they won and actually can’t reliably beat the SP500 (and I am 1,000,000,000% certain on this), then they need to find a revenue source- and here’s where the scam comes in. If, on the other hand, they could actually beat the SP500, not by a fraction, but rather a multiple, they’d be wealthier than Warren Buffet in a decade. They aren’t.”
The FTC filed a lawsuit against Raging Bull in December 2020, accusing the company of defrauding customers out of $137 million over a three year period. The fact they managed to sell $137 million worth of products is insane!
The FTC alleged they used the COVID-19 pandemic as a way to boost sales and used misleading earnings claims in their marketing. The FTC also stated both Jeffrey Bishop and Jason Bond (real name Jason Kowalik) incurred “substantial and persistent losses” from their own trading accounts and their income is mainly from subscription fees not trading.
Raging Bulls business was initially put on pause and could no longer sell services. Towards the end of May, they started publishing blog posts on their site after a 4-5 month hiatus. Bishop and Bond consented to funding an escrow account with $10 million to cover any shortfalls associated with the cost of compliance.
For now Raging Bull can operate their business as they gave assurances that they will operate lawfully on “a preliminary basis pending resolution of this matter”.
Despite the pending lawsuit, Jeff Bishop is still a multi millionaire and is estimated to be worth $3 million. Depending on the outcome of the case, he might have to sell off assets to pay a fine which could greatly impact his wealth.
James Kelly is my name and penny stocks are my game! Former day trader turned long-term investor with a decade of experience in the market. Over the years, I’ve joined dozens of trading services and I aim to provide honest reviews to help traders make better decisions!