Paul Mampilly Review 2026: What Happened to Profits Unlimited (And Is His Legacy Worth Following)?

If you searched for Paul Mampilly, you probably saw one of his old video ads promising life-changing stock picks in the tech and EV sectors.

Those ads used to be everywhere. Mampilly was one of the most visible financial newsletter gurus online, with his Profits Unlimited service reportedly reaching over 130,000 subscribers through Banyan Hill Publishing.

But here’s what those old ads won’t tell you: Paul Mampilly is no longer running Profits Unlimited.

He left Banyan Hill around August 2022. Ian King took over the portfolio, and the newsletter has since been merged into King’s Strategic Fortunes service. If you’re being marketed Profits Unlimited in 2026, you should know the person who built it is no longer involved.

Let’s break down what happened, whether his approach ever worked, and what this means for your money.

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Now — the full Paul Mampilly story.

Who Is Paul Mampilly?

Paul Mampilly is a former Wall Street hedge fund manager who transitioned into financial newsletter publishing. Born in India, he came to the United States and built a career spanning nearly 30 years in institutional investing.

His credentials are legitimate and verifiable. He started as a research assistant at Bankers Trust in 1991, then managed multi-million dollar accounts for Deutsche Bank, ING, and the Royal Bank of Scotland. He was eventually recruited to manage a $6 billion hedge fund, where assets grew to $25 billion — earning recognition from Barron’s as one of the “world’s best” funds.

Perhaps his most cited accomplishment: during the 2008–2009 financial crisis, he reportedly turned $50 million into $88 million without shorting stocks. He also won the Templeton Foundation’s prestigious investment competition.

Mampilly retired from Wall Street at 42 and launched Profits Unlimited through Banyan Hill Publishing in 2016, aiming to share his stock-picking approach with retail investors.

What Was Profits Unlimited?

Profits Unlimited was a monthly newsletter focused on technology and innovation stocks. Mampilly’s thesis centered on identifying companies at the forefront of disruptive trends — electric vehicles, artificial intelligence, internet of things, 3D printing, biotech, and similar sectors.

Subscribers received monthly stock recommendations, weekly video updates, portfolio alerts, sell signals, and access to a members-only website with the full model portfolio.

The introductory price was typically $47/year, making it one of the cheaper financial newsletters on the market. However, Banyan Hill’s business model relied heavily on upselling subscribers into higher-priced services like Extreme Fortunes ($5,000/year) and IPO Speculator.

At its peak, Profits Unlimited had over 130,000 subscribers — a massive number for a financial newsletter service.

The Good: What Mampilly Got Right

His macro thesis was often correct. Mampilly consistently identified the right sectors early. He was bullish on electric vehicles, AI, and biotech before these became mainstream investment themes. His conviction in Tesla and EV-adjacent companies, for example, preceded the massive run-ups of 2020–2021.

The introductory price was accessible. At $47/year, the newsletter was priced for regular people — not just wealthy investors. This democratized access to institutional-quality research, at least in theory.

His Wall Street credentials were real. Unlike many financial newsletter writers who are primarily marketers, Mampilly actually managed significant money on Wall Street. His Templeton Foundation win and Barron’s recognition aren’t fabricated.

He identified some genuine winners. Subscribers who acted on certain early recommendations — particularly in the 2017–2020 period — did see significant gains. Some stocks in the portfolio delivered 100%, 300%, and even 1,000%+ returns during bull market conditions.

The Bad: What Went Wrong

Performance collapsed after 2021. The subscriber experience diverged sharply between those who joined early (2016–2019) and those who came in later. By 2022, user reviews on Stock Gumshoe and other platforms painted a devastating picture. Multiple reviewers reported the majority of their Profits Unlimited positions were down 50–90%.

Growth stocks got crushed. Mampilly’s portfolio was heavily concentrated in speculative growth stocks — companies with big stories but often minimal revenue. When interest rates rose in 2022 and growth stocks sold off broadly, the portfolio took massive hits. This wasn’t unique to Mampilly, but the concentration in speculative names amplified the damage.

Communication deteriorated. Multiple reviewers noted that Mampilly’s updates became less frequent in his final months at Banyan Hill. One Stock Gumshoe commenter wrote that he seemed to have “quit regularly corresponding with subscribers.” For a paid service where timely guidance is critical, this silence was damaging.

He never acknowledged bad picks. A recurring complaint was that Mampilly rarely admitted when a recommendation was wrong. Even as positions declined 70–90%, reviews suggest he maintained bullish outlooks without providing clear exit guidance. This left subscribers holding deep losses with no direction.

The upsell machine was aggressive. While the $47 newsletter was affordable, the marketing engine behind it constantly pushed subscribers toward $5,000 Extreme Fortunes and $2,500 IPO Speculator services. Each used hyperbolic ad copy promising massive returns, creating an escalating spending pattern for engaged subscribers.

What Happened to Paul Mampilly?

Paul Mampilly left Banyan Hill Publishing around August 2022. The departure wasn’t loudly announced — subscribers gradually discovered that Ian King had taken over the Profits Unlimited portfolio.

Ian King subsequently merged the Profits Unlimited service into his own Strategic Fortunes newsletter. If you’re currently a subscriber, you’re receiving Ian King’s picks, not Paul Mampilly’s.

Mampilly has maintained a low profile since his departure. He hasn’t launched a visible competing service or made significant public statements about his exit. His Banyan Hill profile page still exists but appears static and dated.

The timing of his departure — during one of the worst periods for growth stocks in years — is notable. Whether he left voluntarily, was pushed out due to performance, or simply decided to move on is unclear. Banyan Hill hasn’t provided a detailed public explanation.

The Bigger Problem With Financial Newsletters

Paul Mampilly’s story illustrates a fundamental issue with the financial newsletter business model.

The incentives are misaligned. Newsletter publishers make money from subscriptions, not from investment returns. Whether their picks go up or down, the recurring revenue keeps flowing. This creates a structural incentive to market aggressively and publish bold predictions — because bold predictions sell subscriptions.

Survivorship bias distorts the track record. When a newsletter highlights its winning picks in marketing materials, it’s selecting from a larger pool that includes many losers. The gains on NVIDIA don’t offset the losses on ten speculative small-caps that went nowhere.

Retail investors trade differently than the guru. Even when a pick is good, retail subscribers often execute poorly — buying after the initial run-up, not knowing when to sell, panic-selling during dips, or over-concentrating in a single position. The newsletter provides the pick but not the discipline.

The $47 product exists to sell the $5,000 product. In Banyan Hill’s model (and most financial publishers), the cheap newsletter is a loss leader. The real revenue comes from premium services. This means the marketing you see is designed to make you feel like you need to upgrade — creating anxiety about missing out.

Should You Follow Financial Newsletters?

If you enjoy following markets and treat newsletters as one input among many in your research process, they can add perspective. Mampilly’s early macro calls on EVs and AI were genuinely insightful.

But if you’re relying on any single newsletter for your investment decisions — especially one selling speculative growth stocks — you’re taking on more risk than most people realize. The 2022 experience of Profits Unlimited subscribers proves this point painfully.

Here’s a simpler framework: if you don’t have enough capital that a 50% loss in your portfolio wouldn’t significantly impact your life, you probably shouldn’t be buying speculative stocks based on newsletter recommendations.

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The Bottom Line on Paul Mampilly

Paul Mampilly was a legitimate Wall Street professional with real credentials who transitioned into newsletter publishing. His early track record at Profits Unlimited included genuine winners, and his macro thesis on technology disruption was often ahead of the curve.

But the late-stage experience — deteriorating performance, aggressive upselling, communication breakdowns, and an unceremonious departure — tells a cautionary tale about the financial newsletter industry as a whole.

If you’re looking for someone to tell you which stocks to buy, understand the risks. No newsletter writer bats 1.000, and the marketing will always look better than the actual track record.

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Frequently Asked Questions

Does Paul Mampilly still run Profits Unlimited? No. Paul Mampilly left Banyan Hill Publishing around August 2022. Ian King took over the Profits Unlimited portfolio, which has since been merged into King’s Strategic Fortunes newsletter.

Was Profits Unlimited a scam? No. Profits Unlimited was a legitimate financial newsletter service that provided real stock recommendations. However, performance was inconsistent, with many subscribers reporting significant losses — particularly those who joined after 2020.

What was Paul Mampilly’s best stock pick? Mampilly made several profitable early calls in the EV and technology sectors during 2017–2020. Some positions reportedly delivered 100–1,000%+ returns during bull market conditions. However, many later picks gave back those gains and more.

Is Banyan Hill Publishing legitimate? Banyan Hill is an established financial publishing company that produces multiple newsletters and investment services. It’s legally operating and not a scam, though subscriber experiences vary widely depending on which service and time period.

Should I subscribe to Profits Unlimited in 2026? The original Profits Unlimited under Paul Mampilly no longer exists. If you’re considering the current version (now under Ian King / Strategic Fortunes), evaluate it on King’s track record — not Mampilly’s historical marketing.