Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Help me save yahoo finance...
Old 10-18-2005, 12:33 PM   #1
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Help me save yahoo finance...

o.k. I know they stink already, but this guy is a total scam artist, they really shouldn't have him on their site!

http://finance.yahoo.com/columnist/a...ichricher/1224

So who do we email do let yahoo know our displeasure?

In case you didn't know:

http://www.johntreed.com/Kiyosaki.html

__________________

__________________
laurence is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Help me save yahoo finance...
Old 10-18-2005, 01:02 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,380
Re: Help me save yahoo finance...

You are right; he is anabsolute phoney. But he sells books, and I guess Yahoo figures he will generate traffic. Kind of amazing seeing him on the same masthead with Ben Stein.

Anyway, I really don't see the justification of trying to remove him from the site. Isn't that censorship?

Ha
__________________

__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 01:30 PM   #3
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Re: Help me save yahoo finance...

No, no, when others do it, it's censorship, but when I do it, it's consumer protection!

Well, I sent an email to yahoo saying I'm surprised you would want to associate yourself with this cretin individual and linked the site above. They probably will do nothing, but I just had to try and censor protect the consumer.
__________________
laurence is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 01:55 PM   #4
Thinks s/he gets paid by the post
wabmester's Avatar
 
Join Date: Dec 2003
Posts: 4,459
Re: Help me save yahoo finance...

I liked the article. Was there something bogus you found in the content, or do you just not like the guy?
__________________
wabmester is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 01:57 PM   #5
Thinks s/he gets paid by the post
wildcat's Avatar
 
Join Date: Feb 2005
Location: Lou-evil
Posts: 2,025
Re: Help me save yahoo finance...

"Rich Kiyosaki Poor Book Buyer"
__________________
"These walls are kind of funny. First you hate 'em, then you get used to 'em. Enough time passes, gets so you depend on them"
wildcat is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 02:02 PM   #6
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Re: Help me save yahoo finance...

Quote:
Originally Posted by wab
I liked the article. Was there something bogus you found in the content, or do you just not like the guy?
Oh, he's good at sucking people in, he did with me. He starts like that, then gets you to buy his books and go to his seminars. I knew he was crap just from the book, but I wish I had that 12 bucks back! The link above details his nefarious ways far better than I could. Bottom line, the guy is a liar and a con artist, who has almost no real advice in his books, except to some how find a way to commit insider trading (and not get caught, I assume?) and to tax evade with really questionable real estate transactions. His math is real fuzzy, too. He preys upon the lower middle class with dreams of quick wealth (think no money down real estate late night infomercials). I have a friend barely making ends meet who spent 3 grand on his conference. I know, buyer beware, but just because it's legal, doesn't mean it's right.
__________________
laurence is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 02:06 PM   #7
Thinks s/he gets paid by the post
wabmester's Avatar
 
Join Date: Dec 2003
Posts: 4,459
Re: Help me save yahoo finance...

OK, thanks. I won't buy his books or seminars, but I still liked the article.
__________________
wabmester is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 02:09 PM   #8
Thinks s/he gets paid by the post
wildcat's Avatar
 
Join Date: Feb 2005
Location: Lou-evil
Posts: 2,025
Re: Help me save yahoo finance...

Nice link Laurence.* Pretty dirty to me.

Wab - read that guys review of the Kiyosaki
__________________
"These walls are kind of funny. First you hate 'em, then you get used to 'em. Enough time passes, gets so you depend on them"
wildcat is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 02:30 PM   #9
 
Posts: n/a
Re: Help me save yahoo finance...

I saw that 'rich man poor man' dude on Public TV. I was so pissed that they even had a shyster like that on their network, I wrote them a letter.

__________________
  Reply With Quote
Re: Help me save Yahoo Finance...
Old 10-18-2005, 02:42 PM   #10
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Re: Help me save Yahoo Finance...

Quote:
Originally Posted by Laurence
Well, I sent an email to yahoo saying I'm surprised you would want to associate yourself with this cretin individual and linked the site above.* They probably will do nothing, but I just had to try and censor protect the consumer.
Quote:
Originally Posted by Cut-Throat
I saw that 'rich man poor man' dude on Public TV. I was so pissed that they even had a shyster like that on their network, I wrote them a letter.
Guys, guys, you're just feeding the trolls. Meanwhile, at network HQ:
"VP, how much feedback did we get on the Kiyosaki test?"
"Boss, millions wrote in to tell us how much they hated him. We got more hate mail on him than Suze Moron Orman!"
"Well, great-- let's get him back on a mini-series!! See if we can partner him with Jim Cramer!!!"

If there's such a thing as karmic pressure, Kiyosaki's going to blow up like an old wad of bubble gum. In fact, considering how he's personally blown up over the years...

I hope he decides to form a public corporation and hold an IPO. It'll make Martha Stewart look like Barney the Dinosaur!
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 02:44 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Re: Help me save yahoo finance...

Frankly, I think the same thing about Ben Stein...

Shields up, Scotty!!
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 02:54 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,380
Re: Help me save yahoo finance...

Quote:
Originally Posted by Have Funds, Will Retire
Frankly, I think the same thing about Ben Stein...

Shields up, Scotty!!
No need to be shielded from me anyway. One thing I have learned from hanging around this board is that there is an infinity of opinions on anything.

Poll:

2+2=:
4
5
.01276

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 03:09 PM   #13
Thinks s/he gets paid by the post
wabmester's Avatar
 
Join Date: Dec 2003
Posts: 4,459
Re: Help me save yahoo finance...

Quote:
Originally Posted by wildcat
Wab - read that guys review of the Kiyosaki
OK, I scanned it. His message seems to be that the Kiyosaki invents fictional characters to tell his story, that he wants to make money from you, and he doesn't agree with all of Kiyosaki's points.

My only comments are that I wish investors would scrutinize company management as much as they do authors, and I think that Kiyosaki's basic message is sound. Isn't it basically to put your money to work in appreciating and income-producing assets rather than interest bearing accounts?
__________________
wabmester is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 03:10 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Feb 2003
Location: Mesa
Posts: 3,588
Re: Help me save yahoo finance...

Quote:
Originally Posted by HaHa
No need to be shielded from me anyway. One thing I have learned from hanging around this board is that there is an infinity of opinions on anything.

Poll:

2+2=:
4
5
.01276

Ha
That's rediculous. *2+2 = 4.75 x sqrt(7)/pi. *
__________________
sgeeeee is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 03:17 PM   #15
 
Posts: n/a
Re: Help me save yahoo finance...

Quote:
Originally Posted by wab
OK, I scanned it.* *His message seems to be that the Kiyosaki invents fictional characters to tell his story, that he wants to make money from you, and he doesn't agree with all of Kiyosaki's points.

My only comments are that I wish investors would scrutinize company management as much as they do authors, and I think that Kiyosaki's basic message is sound.* *Isn't it basically to put your money to work in appreciating and income-producing assets rather than interest bearing accounts?
His message when I saw him on TV was "don't waste your time saving in a 401K account and investing in stocks and Bonds. Borrow all the money you can and invest in Real Estate and get rich. - Only morons get rich slowly" His message is always changing.
__________________
  Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 03:32 PM   #16
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Help me save yahoo finance...

Quote:
Originally Posted by Cut-Throat
His message when I saw him on TV was "don't waste your time saving in a 401K account and investing in stocks and Bonds. Borrow all the money you can and invest in Real Estate and get rich. - Only morons get rich slowly" His message is always changing.
Cut-throat,

I am amazed that you could actually discern a message from what he was saying. And you are able to summarize it so succinctly. Usually when I read something from Kiyosaki, I reflect back on what I read and I am completely clueless as to what Kiyosaki's point is. Oddly enough, I think Kiyosaki's article last week on Yahoo Finance was about how bad 401k's are for you from a tax standpoint. He's got some strange logic.

__________________
justin is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 03:46 PM   #17
Dryer sheet aficionado
 
Join Date: Aug 2005
Posts: 25
Re: Help me save yahoo finance...

I was surprised to see Kiyosaki on Yahoo Finance, but not that disappointed. He is certainly not a Finance academic, or former corporate or government type, but he writes about money in a compelling fashion, agree or disagree. I read his first two books, and quickly realized that I didn't want to read the books that actually tried to give investing/real estate/business advice. I didn't agree or see him as an expert in any of these areas.

He writes in a way to change everyone's thinking about money. There's nothing wrong with that. There's nothing wrong with using fictional characters to make a point, even if you say they are real. I don't see him as a scam artist or scheister. He doesn't promise anything. If he said, "buy this from me, and I guarantee you will be a millionaire" he would be a scam artist. He sells information and opinion. Go to the business section of any bookstore or library and you will find dozens of others doing the same thing.

For some, it may be a nudge needed to start their own business, or begin investing in stocks or real estate. Again, don't learn HOW to do all of that from him.
__________________
usc_et is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 04:36 PM   #18
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Help me save yahoo finance...

USC_ET,

I admit Kiyosaki brings diversity to the finance discussions. I just think diversity like this can be dangerous.

My beef with Kiyosaki is that he puts himself out there as an expert. I personally think he made all his money from selling how-to-get-rich books, tapes, seminars, and board games. Sure, he's dabbled in real estate and other businesses (if you believe him).

If you follow his advice, it can be very damaging. He doesn't know what he is talking about in regards to many financial and business decisions. I've seen people close to me fall for his "advice", until I showed them the light. Take, for example, the average person who isn't able to get a good job or make passive investments in the stock market via index funds or the like. Will this person be successful in running a start-up business or flipping real estate like Kiyosaki advocates? Probably not. They'll use up all their credit and savings (if any) on some crazy business or real estate deal. Then they're broke, looking for the next "financial guru" to get advice on how to get rich quick.

Kiyosaki's one redeeming quality is that I think he is on to something when he discusses things such as houses and cars as being "liabilities" instead of "assets" (his rationale: cars and houses have carrying costs that are paid by the owner: loan interest, insurance, maintenance, etc. and they don't produce income. Income production is the defining characteristic of an "asset" in Kiyosaki parlance). I think of "things" in the same terms. For items from a car to a toaster oven there is usually a cost to acquire, cost to maintain, cost to insure, cost to operate, cost to store, cost to upgrade, cost to dispose, and the opportunity cost of all these other costs. This way of looking at "stuff" helps me buy less of it.
__________________
justin is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 04:50 PM   #19
Dryer sheet aficionado
 
Join Date: Aug 2005
Posts: 25
Re: Help me save yahoo finance...

Justin,
I hear what you are saying, and agree that he advocates venturing into areas that are far riskier than most individuals are suited for. I agree that most people shouldn't follow his advice, and those who chose to should do considerable research outside the Rich Dad materials before beginning their ventures.

I agree that for most of us the passive investments, long term focus works best. However, take a look at the Forbes 400, and look for how many of them followed this method. Now, before everyone jumps on me, I know that none of us will ever be on that list (pretty certain of this), and we need to do things in a way that works for us, not chasing some pie in the sky. Just a reminder that it's not the only way to do things.

I know a young lady who, despite many people urging, had resisted beginning a career in modeling. After reading Rich Dad, realized that it could be a very good "side business" and pursued it. She has since incorporated her modeling career and makes a good (not supermodel like) living out of it, in addition to her day job. They don't all need to be high start up cost ventures.

I too liked his classification of assets and liabilities, which is why his latest article on Yahoo Finance surprised me. I stopped reading after this line, "Prior to 1971, the U.S. dollar was real money linked to gold and silver, which is why the U.S. dollar was known as a silver certificate. After 1971, the U.S. dollar became a Federal Reserve Note -- an IOU from the U.S. government. Instead of our dollar being an asset, it was turned into a liability."

The piece of paper that we call dollars was always an asset to the holder and a liability to the US Govt. The only difference is that it used to be a secured asset, now it is unsecured.
__________________
usc_et is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-18-2005, 05:07 PM   #20
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Help me save yahoo finance...

Quote:
Originally Posted by usc_et
... Just a reminder that it's not the only way to do things...


...I too liked his classification of assets and liabilities, which is why his latest article on Yahoo Finance surprised me. I stopped reading after this line, "Prior to 1971, the U.S. dollar was real money linked to gold and silver, which is why the U.S. dollar was known as a silver certificate. After 1971, the U.S. dollar became a Federal Reserve Note -- an IOU from the U.S. government. Instead of our dollar being an asset, it was turned into a liability."

The piece of paper that we call dollars was always an asset to the holder and a liability to the US Govt. The only difference is that it used to be a secured asset, now it is unsecured.
It's good to hear other ways of building wealth, but I think Kiyosaki provides just enough information to make one dangerous.

Re his statement that US dollars are liabilities: 98% of what Kiyosaki says isn't worth anything. This statement falls within the 98%. Good luck ciphering the other 2% out from his ramblings! Maybe Nostradamus is a financial guru too, assuming you can interpret his predictions.
__________________

__________________
justin is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What would you teach in Intro to Personal Finance? Peaceful_Warrior Other topics 18 04-24-2007 12:11 PM
Did you continue to save in retirement? JustCurious FIRE and Money 17 04-17-2007 09:18 AM
Yahoo "Finance Quiz" Walker101 FIRE and Money 242 06-15-2004 11:56 AM

 

 
All times are GMT -6. The time now is 12:27 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.