Is Jeff Brown’s Blank Check Speculator Legit?

Jeff Brown, whom I’ve covered quite extensively on this blog, just started offering a new advisory service called Blank Check Speculator.

In a presentation he did to promote the service, he mentioned that it will be dealing with Pre-IPO investments and SPACs.

Therefore, in this article I will discuss his investment strategy, what signing up for the service entails, and my opinion on whether I think it is legit.

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What is Blank Check Speculator?

Blank Check Speculator is a new investment advisory service that is offered by Brownstone Research. It is edited by Jeff.

He started offering it because he realized that not many people understand what SPACs (or pre-IPO deals) are yet they appear to have become a popular form of investment. He intends to guide retail investors towards pre-IPO opportunities that have the potential to earn them big returns.

Blank Check Speculator (Jeff Brown)

Speaking during the webinar as he was promoting the newsletter, Jeff said that until recently, these investments were only accessed by the rich investors on Wall Street. He said that you had to be well connected with contacts in New York and Silicon Valley to invest in pre-IPO deals and thus few people took part.

But now, he says that you can access those same deals from the comfort of your home using your normal brokerage account.

However, this access doesn’t mean much if you have no idea how to find the best deals – and that’s where the newsletter comes in. Jeff intends to inform ordinary folk about these investments.

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What are SPACs?

A Special Purpose Acquisition Company or SPAC is a company that is created to raise capital through an IPO. When it goes public, it does so with the intent of acquiring one or more companies (typically promising startups) with the capital it raises through the IPO.

SPACs have been around for decades but appear to have gained popularity over the past two years. They have attracted some well-known investors and underwriters, which has fueled their popularity even more.

When a SPAC is created, it does not have to reveal the name of the company (or companies) it intends to acquire, if at all it has figured that out (it doesn’t have to have targets as it IPOs). And generally, this is preferable because it minimizes the amount of information it has to make public during the IPO. This technicality is why they are sometimes referred to as “Blank Check Companies” – and where the newsletter gets its name!

The money that it raises in the IPO is kept in a trust and is only withdrawn to buy some target company or to be returned to investors if the SPAC is liquidated for failing to acquire a company within 2 years (in some cases, the founders ask for an extension).

When the SPAC does an IPO, the units of ownership (called units) comprise a share of the now-public company and a warrant or a fraction of a warrant. These details vary and you should read about them in the SEC filings.

The warrants can be traded publicly. You know you have encountered a warrant if it has the letter “W” attached to the end of the ticker symbol of the stock. For example, if the symbol of the company is PQR, the warrant will be PQRW. Note that there are variations in the naming conventions but this is the common one.

Overall, SPACs can also be seen as an alternative route for a startup to go public (if it is acquired by a SPAC).

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Who is Jeff Brown?

Jeff Brown is an angel investor and a former high technology executive. He spent 25 years working as an executive for recognizable brands within the industry like NXP Semiconductors, Juniper Networks, and Qualcomm.

As an angel investor, he is most keen on technology startups. He believes he is equipped to thrive because he has worked in the technology industry for a long period and, therefore, has access to information about those companies that few other analysts know about.

Although he was born and educated in America, he spent most of his professional life overseas.

Nowadays he is an investment analyst. He founded Brownstone Research and now edits newsletters like Early Stage Trader, The Near Future Report, Exponential Tech Investor, and The Bleeding Edge (The latter is a free newsletter while the rest are paid for).

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How does Blank Check Speculator work?

If you sign up for the Blank Check Speculator for $4,000 per year (non-refundable) you are entitled to monthly briefings from Jeff. Each of those briefings gives you a new SPAC opportunity to invest in.

Jeff also sends you a special report called The Blank Check Manifesto in which he explains how SPACs operate, how you can invest in them, and why they are not going anywhere soon.

If you are dissatisfied with the newsletter, you can cancel your membership and divert it to any other investment newsletter offered by Brownstone Research or its corporate affiliates.

Merits of Blank Check Speculator

  • You learn about investing in SPACs
  • Since SPACs are relatively difficult to understand, you benefit from being guided by someone who knows them well.

Demerits of Blank Check Speculator

  • The subscription fee is quite high and there is no option to receive a cash refund if you cancel your membership.

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Is Blank Check Speculator legit?

Blank Check Speculator is a legitimate newsletter.

Jeff Brown is a credible investor who has a lot of experience in the tech industry. He has brought it over to the finance sector, which is not a bad thing to have in his repertoire.

On top of that, Brownstone Research is an independent firm that publishes unbiased investment advice. They don’t get paid when they recommend a company and they give their genuine advice – and it can either be accurate or wide off the mark.

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My Final Word on Blank Check Speculator

The Blank Check Speculator is a new advisory service that Jeff Brown will be offering via Brownstone Research.

Through it, he will be pointing his subscribers to the Special Purpose Acquisition Companies that he will deem to be good investments. Although it is an expensive newsletter, it targets retail investors.

Now, before you start trading blank check companies, educate yourself about how they work because they are not like ordinary companies. When researching a SPAC, you will have to read a lot of paperwork and if you are not a big fan of this, you’d rather not get involved. I suppose Jeff will do some of the heavy lifting but you still have to vet those opportunities to determine if they work for you because the advice you will receive is not personalized.

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