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kiyosaki has reached new low - unbelievable
Old 05-01-2007, 09:50 AM   #1
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kiyosaki has reached new low - unbelievable

Now the genius is comparing lottery tickets to mutual funds, and implying the lottery is a better deal.

what a total moron.

How about someone write book, "Smart advisor, Idiot advisor". Unlike kiyosaki's mythical 'rich dad', the 'idiot advisor' will be clearly identifiable as kiyosaki.

Ugh.


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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 10:26 AM   #2
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Re: kiyosaki has reached new low - unbelievable

I just saw his article on Yahoo myself. Judging from its rating, it appears the majority of the readers agree he's full of ca ca. I'm dying to know what investment he thinks has a big payoff with less risk than mutual funds.

http://finance.yahoo.com/expert/arti...chricher/30687
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 10:29 AM   #3
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Re: kiyosaki has reached new low - unbelievable

Ok, someone's going to have to show me how to post a link without it looking so retarded. How do you make the link text something different from the URL itself?
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 10:31 AM   #4
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Re: kiyosaki has reached new low - unbelievable

Quote:
Originally Posted by 4EAXFM
I just saw his article on Yahoo myself. Judging from its rating, it appears the majority of the readers agree he's full of ca ca. I'm dying to know what investment he thinks has a big payoff with less risk than mutual funds.

http://finance.yahoo.com/expert/arti...chricher/30687
He wants us to invest in him!!! NOT with my dime!!! How do you spell idiot KIYOSAKI

When the H*** will the investing rags stop publishing his crap? They lose credibility with the drivel he spouts.
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 10:32 AM   #5
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Re: kiyosaki has reached new low - unbelievable

Like that book him and Donald wrote? :
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 10:33 AM   #6
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Re: kiyosaki has reached new low - unbelievable

Quote:
Originally Posted by 4EAXFM
I just saw his article on Yahoo myself. Judging from its rating, it appears the majority of the readers agree he's full of ca ca. I'm dying to know what investment he thinks has a big payoff with less risk than mutual funds.

http://finance.yahoo.com/expert/arti...chricher/30687
Idiot Kiyosaki

use the quote function to look at my post and you will figure out what I did; Simply after ] in the url function add the text you want
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 10:36 AM   #7
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Re: kiyosaki has reached new low - unbelievable

Much obliged, lswswein!
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 11:02 AM   #8
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Re: kiyosaki has reached new low - unbelievable

Further proof that I would be a LOT richer if I was totally clueless but had a GREAT PR person..............
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 11:26 AM   #9
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Re: kiyosaki has reached new low - unbelievable

Quote:
Originally Posted by runchman
kiyosaki has reached new low - unbelievable
Every time I think he can't go lower he exceeds my expectations.

He's also living proof of the aphorism that there's no such thing as bad publicity.
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 01:41 PM   #10
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Re: kiyosaki has reached new low - unbelievable

Quote:
Originally Posted by crazy connie
He wants us to invest in him!!! NOT with my dime!!! How do you spell idiot KIYOSAKI
He writes:

"If you really want to retire, look at other investments and work with someone who's willing to put in the time to help you retire soon and retire rich..."

He left out a word:

"If you really want to retire, look at other investments and work with someone who's willing to put in the time to help you retire soon and him retire rich..."
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 01:41 PM   #11
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Re: kiyosaki has reached new low - unbelievable

Wow. What a crazy article. He is doing real damage to those poor souls who listen to him.

In a sense, he is correct: an individual investor has no control over the ups and downs of the stock market, or the individual stock picks of the fund manager. But history shows that over the long-term, 'gambling' on the equity mutual funds has an infinitely better chance of success than playing lotteries.

I found the following statement (which appears to be the only 'evidence' offered in support of his claim that "mutual funds [are] a government-sponsored program that you have little chance of winning") very difficult to believe:

"I once heard a radio interviewer ask a representative of a large mutual fund about the fund's performance. The rep said it had risen in value by an average of 20 percent per year for the prior two years. But when the interviewer asked about the average return to the average investor in the fund, the representative responded that the average investor had actually lost 2 percent per year."

Point One: it strikes me as nearly impossible that when a particular mutual fund is returning 20% per year, the average investor in that fund is earning negative 2%;

Point Two: if the average investor was losing money in the fund, the fund's representative almost certainly would not volunteer that information, especially on public radio.
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 01:47 PM   #12
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Re: kiyosaki has reached new low - unbelievable

Quote:
kiyosaki has reached new low
my initial reaction to the subject heading was: not possible. but after reading the "article" i must admit that i was wrong. indeed, a new low.
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 01:54 PM   #13
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Re: kiyosaki has reached new low - unbelievable

Quote:
Originally Posted by Milton

Point One: it strikes me as nearly impossible that when a particular mutual fund is returning 20% per year, the average investor in that fund is earning negative 2%;
That seems a bit extreme, but remember the bubble years and the internet funds? Few bought at the beginning and most bought chasing returns. I can believe that the fund reflected a 20% annual return but investors who jumped in after the fund had most of its gains probably wound up losing.

Doesn't support his point of not investing in funds, only supports a well allocated long term portfolio.
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 02:05 PM   #14
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Re: kiyosaki has reached new low - unbelievable

Quote:
Originally Posted by Milton

...it strikes me as nearly impossible that when a particular mutual fund is returning 20% per year, the average investor in that fund is earning negative 2%;
Soon is correct.

Although I loathe to think this will be interpreted as coming to the defense of that worthless piece of pond scum, I do think he has a grain of truth behind his statement. [Edit: Hey, I'm speaking of K here, not Soon. ]

I could not find the source, but a while back there was a study that showed something similar to what he reports. While over a two year period a fund may show a total gain of 20%, that gain was not linear. In all the ups and downs during that period, the natural tendency of the average investor to chase performance, buy high and sell low, results in much worse performance than that of the fund itself. I'm not sure it was as bad as K reports, but it is significantly worse than you might expect.


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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 02:12 PM   #15
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Re: kiyosaki has reached new low - unbelievable

Clearly the fastest least riskiest way to riches is via Multi Level Marketing scams. schemes. :
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 02:49 PM   #16
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Re: kiyosaki has reached new low - unbelievable

Quote:
Originally Posted by REWahoo!
Edit: Hey, I'm speaking of K here, not Soon. ]
Thanks REW, that distinction has not always been made for me :-)

Here is the actual data, which exposes what a biased lying POS that guy is (K, not you)

http://www.kiplinger.com/columns/val...006/va1030.htm

"In one set of data, Morningstar divided up funds by volatility. In the one-fourth of funds that were the most volatile, investors earned an annualized 5.3% over the past ten years, while the funds themselves returned 8.1% annualized (all returns in this article are for the ten years that ended September 30). That's leaving a lot of money on the table. But in the one-fourth of funds that were the least volatile, investors and the funds returned exactly the same amount: 8.9%."
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 03:19 PM   #17
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Re: kiyosaki has reached new low - unbelievable

I also love how he opens the article giving a CPA the "credit", to give his thoughts more weight:

Quote:
According to Tom, and contrary to popular belief, none of these are wise investments. So here, in his own words, are his thoughts on the subject.
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 04:08 PM   #18
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Re: kiyosaki has reached new low - unbelievable

Quote:
Originally Posted by SoonToRetire
Here is the actual data, which exposes what a biased lying POS that guy is (K, not you)
Ah, but that's only half the data required ... I bet the historic returns from lotteries are much more impressive! :P
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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 04:45 PM   #19
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Re: kiyosaki has reached new low - unbelievable

Quote:
Originally Posted by REWahoo!
I could not find the source, but a while back there was a study that showed something similar to what he reports.
Isn't he referring to the Dalbar study?

The 2003 version seems a little closer to Kiyosaki's numbers.


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Re: kiyosaki has reached new low - unbelievable
Old 05-01-2007, 04:46 PM   #20
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Re: kiyosaki has reached new low - unbelievable

Well, the average mutual fund has expenses over 1.5%, frequently has hefty commissions front, back, and sideways, large turnovers, loaded directors, advisors, and managers. Fees get heavier with size at the same time performance suffers due to size. Worse than the lottery is an exaggeration, but there are a lot of bad ones out there which conveniently disappear once their record becomes too bad and are folded into a better performing fund. Read Arthur Levinson or David Swensen for the pitfalls all too present among many.
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