In 1999 he founded Stansberry & Associates Investment Research, a private publishing company based in Baltimore, Maryland. He is currently the editor of Agora Inc.'s internet financial newsletter Porter Stansberry's Investment Advisory, and the weekly trading service, Porter Stansberry's Put Strategy Report. In 2007, he and his investment firm, then called "Pirate Investor," now known as "Stansberry & Associates," were ordered by a US District Court to pay $1.5 million in restitution and civil penalties, the court stating "Stansberry's conduct undoubtedly involved deliberate fraud, making statements that he knew to be false