Suze Orman's Newletter Guru

[jazz4cash]

I'm not much of a fan of Suze, but I do think her advice generally benefits a niche segment. I thought she already crossed the line with her debit card, and now she's teamed up with a newsletter that seems to be playing fast and loose with performance claims....
The Intelligent Investor: Suze Orman's Stock Secrets - WSJ.com

 

[Nords]

In a news release issued in March 2007, Mr. Grimaldi said one of his newsletters had "been ranked #1 by Hulbert Financial Digest" for the five years through 2006. Hulbert, a tracker of newsletter performance, is owned by MarketWatch, a division of Dow Jones & Co., publisher of the Journal—as are several other newsletters that compete with Money Navigator. Mr. Grimaldi's other newsletters, although not the Money Navigator, have featured the claim "Ranked #1 & Recommended by Hulbert Financial Digest!"
Mark Hulbert, editor of the digest, says his publication "doesn't make recommendations" and that "no matter how I slice and dice the data, I cannot support [Mr. Grimaldi's] claim of being No. 1 for that five-year period." According to Mr. Hulbert, Mr. Grimaldi's highest rank from the digest over that period was 25th out of 110.
Mr. Grimaldi says he ranked No. 1 over that period: "I'll say that to my grave."

Maybe she's just worried that she's not saving enough for retirement.

Her trash-talking Twitter tactics are a worrisome step over the line, though. "Strident" is one thing. But calling innocent bloggers (and NYT journalists) "idiots" seems like a great way to destroy whatever brand she's been trying to build...

Suze Orman’s debit card does not support the troops | Military Retirement & Financial Independence

 

[MichaelB]

It is a shame someone who built a business and a reputation giving good advice about money cannot stop her own ventures from crossing the line. Not sure what her intent is or how this will affect her brand, though.

 

[RockyMtn]

that woman will say or endorse anything that puts a few $$$'s in her pocket. I find her advice to be rudimentary and for the most part totally useless. There is a reason the lady really has no place for her show anymore.

 

[Sue J]

I sometimes watch her show because I like the stories of real people in real situations. Sometimes they've screwed up so bad, other times they are right on target.

I was surprised that she came out with this debit card idea. I don't have a problem with prepaid debit cards, just that there are fees to use it and if she's creating it and pushing it then she's making money off of it. Lately she's been hawking stuff all over, her newsletter, her kits on QVC, etc. I know she also does plenty for free, giving out access codes for freebies on her site, codes to free downloads of her books and things.

One of the things I learned from working with H&R Block for 2 tax seasons is the term "the unbanked". HRB's Emerald Card, which is a debit card preloaded with your tax refund, was hugely popular with unbanked customers. I don't remember the specifics of the fees but I know fees were there.

For those of us who use banks the idea of being unbanked seems pretty crazy but there are a lot of people who don't trust banks or got into trouble with fees and overdrafts or have such bad credit that they can't get a bank account.

Aren't there prepaid debit cards out there that can be used without fees?

 

[FinanceDude]

I'm not much of a fan of Suze, but I do think her advice generally benefits a niche segment. I thought she already crossed the line with her debit card, and now she's teamed up with a newsletter that seems to be playing fast and loose with performance claims....
The Intelligent Investor: Suze Orman's Stock Secrets - WSJ.com

Soo. we should be taking stock tips from a woman who does not invest in the stock market? Maybe she teamed up with MMND..........

 

[Gumby]

This is what happens when you start believing your own press releases.

 

[veremchuka]

that woman will say or endorse anything that puts a few $$$'s in her pocket. I find her advice to be rudimentary and for the most part totally useless. There is a reason the lady really has no place for her show anymore.

+1

 

[2035]

Suze Orman's Debit Card WILL NOT help people build up their credit score

Listen to APM's Marketplace Money discussion from 1/20/12 RE: SO's prepaid debit card. Suze is giving people with bad credit false hope. She's making it sound like their debit usage will be reported to TransUnion when in fact they've only agreed to study the usage patterns. AND non-credit transactions (such as rent payments) have been considered before but Fair Isaac will only accept credit transaction right now.

Her "work until 67 or 70" mantra, no "How I Doing" segment and selling everything but the kitchen sink while telling people to save have totally turned me against her.

Please excuse my typos, I'm sending this from my iPhone (only $99 because flip phone finally died).

 

[Alan]

We already have a thread running discussing this issue,
http://www.early-retirement.org/forums/f44/suze-ormans-newletter-guru-59722.html

I'll move this to that thread.

 

[Nords]

We already have a thread running discussing this issue,
http://www.early-retirement.org/forums/f44/suze-ormans-newletter-guru-59722.html
I'll move this to that thread.

If she keeps on her current marketing binge then you're going to have to set up a separate forum devoted to trashing all of her initiatives.

Hey, I wonder if it could spin off to a separate discussion board-- with AdSense revenues!

 

[HFWR]

that woman will say or endorse anything that puts a few $$$'s in her pocket. I find her advice to be rudimentary and for the most part totally useless. There is a reason the lady really has no place for her show anymore.

CNBC still has "The Donald"; must be room for Suze...

 

[Koolau]

CNBC still has "The Donald"; must be room for Suze...

The difference is that ONCE, I considered Suze to be a woman "doing well by doing good." I never had that feeling about the Donald, though I have nothing against him for being who he is - love him or hate him, I don't believe he makes a pretense of being here to help - except for that "run" for the Presidency thing. Actually, I just considered that part of the Donald's schtick.

 

[james7]

CNBC still has "The Donald"; must be room for Suze...

I think they should put the Donald and Suze on the same show, along with the cast of "The View".

 

[Badger]

I think they should put the Donald and Suze on the same show, along with the cast of "The View".

That would be an entertaining show!

Cheers!

 

[veremchuka]

That would be an entertaining show!

Cheers!

And give them all fully automatic weapons. Now that's entertainment.

 

[james7]

If Suze Orman was serious about helping people get out of debt and manage their finances, she wouldn't be pushing her fee laden debit card. Instead she should be giving the advice that: 1) anyone can get a debit card for free by opening up a checking account and following a few simple rules, and 2) consumers should be using a credit card, not a debit card because if one needs to dispute unauthorized or fraudlent transactions, the dispute process is much more in the consumer's favor with a credit card. With a debit card, when disputing a charge, NOTHING is in the consumer's favor.

In addition, by encouraging the use of a reloadable debit card, she is encouraging her viewers to do their banking at high fee, check cashing/money service centers, exactly what government and non-profit consumer advocates are discouraging.

 

[clifp]

And give them all fully automatic weapons. Now that's entertainment.

... and make it pay for view, with the profits used going to pay off the national debt.

I'd watch.