Chuck Jaffe takes on Robert Kiyosaki

Nords

Nords

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Chuck must've really flipped over a lot of rocks to find this "Stupid Investment of the Week" choice. (For you Kiyosaki fans, I'm using a literary technique called "sarcasm".) But regardless of the target challenge (or lack thereof) I enjoy sitting on the sidelines watching the alleged journalists beat up on the alleged financial experts.

'Rich Dad Academy' a poor choice for investors - MarketWatch

I wonder if this is a chance to get in on the ground floor of Whitney Information Networks...

RUSS Stock Charts - Whitney Information Net Inc Stock Market Charts
 
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Nords said:
Chuck must've really flipped over a lot of rocks to find this "Stupid Investment of the Week" choice. (For you Kiyosaki fans, I'm using a literary technique called "sarcasm".) But regardless of the target challenge (or lack thereof) I enjoy sitting on the sidelines watching the alleged journalists beat up on the alleged financial experts.

'Rich Dad Academy' a poor choice for investors - MarketWatch

I wonder if this is a chance to get in on the ground floor of Whitney Information Networks...

RUSS Stock Charts - Whitney Information Net Inc Stock Market Charts
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Sounds like they're running the Charles Givens playbbok, with a forward written by Wade Cook..........:eek:
 
Yah, I wonder if they teach any classes that aren't upsells to others. If there is, I have yet to see it. I went to a David Lindahl session (friend paid $800 for it but couldn't go so asked me to fill in), and it was still an upsell for another course.
 
Good to know Kiyosaki approves of education now and has his own Academy to prove it.
 
It is interesting how people like the "Dad" and Tony Robbins make their money by selling book, seminars, and tapes.
Anyone remember EWT - ernerst Warnhart Traninging or something like that - a seminar pyramid skeam.
 
Wow, once again the google ad software is impressive. It sees Rich Dad education in this thread and lo and behold, the thread becomes sponsored by Rich Dad himself. To see the ads, come to this thread without logging in.
 
dex said:
It is interesting how people like the "Dad" and Tony Robbins make their money by selling book, seminars, and tapes.
Anyone remember EWT - ernerst Warnhart Traninging or something like that - a seminar pyramid skeam.
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EST
 
And I have the good fortune of having a co-worker who loves this guy. No matter what I do, he comes back at me with another kiosaki quote the next day. Even if we end the conversation with him admitting I was right, he seems to forget 24 hours later.
 
dex said:
It is interesting how people like the "Dad" and Tony Robbins make their money by selling book, seminars, and tapes.
Anyone remember EWT - ernerst Warnhart Traninging or something like that - a seminar pyramid skeam.
Click to expand...

Hey now, be fair. Tony Robbins isn't a financial charlatan. He's a self-help guru, and I actually like his material. Even if you don't agree with him, a simple perusal of his book will show it's jam packed with info on his subject matter.

Kiyosaki, on the other hand, has about 4 sentences in his entire catalog that aren't marketing drivel.
 
NinjaPigeon said:
Kiyosaki, on the other hand, has about 4 sentences in his entire catalog that aren't marketing drivel.
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No, no, no, you're just missing the subtlety of his messages. His advice that the key to wealth is "acquiring assets that generate income" is revolutionary. I'd totally never thought of that before!! :rolleyes:
 
CompoundInterestFan said:
No, no, no, you're just missing the subtlety of his messages. His advice that the key to wealth is "acquiring assets that generate income" is revolutionary. I'd totally never thought of that before!! :rolleyes:
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definitely, quote of the day

"acquiring assets that generate income"
 
NinjaPigeon said:
Hey now, be fair. Tony Robbins isn't a financial charlatan. He's a self-help guru, and I actually like his material. Even if you don't agree with him, a simple perusal of his book will show it's jam packed with info on his subject matter.

Kiyosaki, on the other hand, has about 4 sentences in his entire catalog that aren't marketing drivel.
Click to expand...

Tony Robbins was hilarious in Shallow Hal...Wasnt Kiyosaki in a Farelly Brothers movie, too, Dumb and Dumber?;)
 
I don't understand why everebody dislikes RK on this forum.

Ok, he might be selling 95% air, but you must admit that the his 'concept' and childish way of explaining helps ordinary people a lot.

People on this board simply aren't ordinary financially, that's all.

I think RK is a great entrepreneur, and he has $33 million in sales of Cash Flow 101 (his board game) to back that up.
 
pj86 said:
I don't understand why everebody dislikes RK on this forum.

Ok, he might be selling 95% air, but you must admit that the his 'concept' and childish way of explaining helps ordinary people a lot.

People on this board simply aren't ordinary financially, that's all.

I think RK is a great entrepreneur, and he has $33 million in sales of Cash Flow 101 (his board game) to back that up.
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Masterson is a great entrepreneur as well. He'll tell you that he's made his money selling money-making ideas to people that he wouldn't use himself.

Being good enough to sell people what they want to buy should never be confused with being good at helping people get what they need.

Aside from the fact that his first book could be condensed down to 3 pages, I liked it.. The rest where he expounds on his 'theories' are better borrowed than bought.
 
pj86 said:
I don't understand why everebody dislikes RK on this forum.

Ok, he might be selling 95% air, but you must admit that the his 'concept' and childish way of explaining helps ordinary people a lot.

People on this board simply aren't ordinary financially, that's all.

I think RK is a great entrepreneur, and he has $33 million in sales of Cash Flow 101 (his board game) to back that up.
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I don't begrudge an entrepreneur their returns. The problem as I see it is RK gets the money for bad financial advice. Suzie O has better financial advice and that is saying something IMHO.

A breakthrough guy for me was Joe Dominguez with Your Money Or Your Life. I don't think he made much money from his books and his financial advice (US Treasuries) was terrible. But the inspiration to see how much of my life energy went on acquiring 'stuff' I don't need or even want, now that was useful in a way I can not see in anything coming from RK.
 
pj86 said:
I don't understand why everebody dislikes RK on this forum.

Ok, he might be selling 95% air, but you must admit that the his 'concept' and childish way of explaining helps ordinary people a lot.
Click to expand...

It's not so much that his message is light on substance, but his advice is somewhat dangerous, especially for "ordinary people". He makes it seem like making money in real estate is simple, that college educations aren't necessarily a good idea, and that simply "acquiring assets" (without much specific advice on how to do that) is the key to wealth. He just had an article in his yahoo column advising people to stay away from mutual funds, comparing them to the lottery. :crazy:

pj86 said:
I think RK is a great entrepreneur, and he has $33 million in sales of Cash Flow 101 (his board game) to back that up.
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BFD. No one's disputing that he's good at making money, I just don't think he's made his money by following the advice he gives to others.
 
yakers said:
A breakthrough guy for me was Joe Dominguez with Your Money Or Your Life. I don't think he made much money from his books and his financial advice (US Treasuries) was terrible. But the inspiration to see how much of my life energy went on acquiring 'stuff' I don't need or even want, now that was useful in a way I can not see in anything coming from RK.
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Absolutely! That's the first serious money book I ever read & it changed my life (that's a big statement & I mean it). I was lucky enough to read it in my early 20s. The US Treasuries thing is hokey to me for a number of reasons, but I still recommend the book to people & tell them to take that Treasuries part with a grain of salt.

I honestly don't know where I'd be, if I hadn't read that book. I've never read a RK book, but from what I've heard, it sounds like he has a few good ideas that he doesn't explain clearly enough for the average lay-person to get it, he simplifies the difficulty of what he's touting (buying real estate isn't for people who don't pay meticulous attention to details), & he seems to be more into selling himself than an actual product to help people.
 
The one positive that I took from Rich Dad / Poor Dad is that I now look at my house as an expense and not an investment. I haven't looked, that may no longer be the case that, in most markets, houses only keep up with inflation. However, it's still helped keep me from overbuying many times.

However, a co-worker, who absolutely loves RK and the book, bought a bigger house than he could afford because he thought that was RK's point on house buying... overbuy and wait for the appreciation.
 
Webzter said:
However, a co-worker, who absolutely loves RK and the book, bought a bigger house than he could afford because he thought that was RK's point on house buying... overbuy and wait for the appreciation.
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You'd think it would be a lot more profitable to underpay than to overbuy...
 
Webzter said:
However, a co-worker, who absolutely loves RK and the book, bought a bigger house than he could afford because he thought that was RK's point on house buying... overbuy and wait for the appreciation.
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This guy must really not like to think for himself. I cannot imagine doing anything, let alone something as large as buying a home, because I read about it in a book. Even if a proven winner like WEB wrote the book.

Ha
 
I've got a lot of books from financial types that eventually crashed and burned in several types of financial vehicles. Some praised real estate, others bonds, others options, others oil holdings, others retail conglomerates. Usually I got at least one good idea from each author, although the concepts were dated or unusually effective in certain time windows.

All it takes is a tax change or interest rates or employment number or some other variable to make a great idea a horrible one. I read several others here give a pearl they learned by a person generally scorned now.

Partly I think this is because when we a new searching for financial nuggets of wisdom,
we attribute common investment wisdom we first are exposed to by that author and may not have enough sophistication to see what could burn us in other parts of the book.

I know this is an old thread, like 10 yrs old, but am curious who the new financial person of fame who is falling or fallen may be?
 
I think it is a factor of the level of financial knowledge in general. In my plant, there are about 300 folks pumping out parts that 90% plus just don't have the drive, time, feel the need, whatever to understand beyond living paycheck to paycheck. If someone asks (I certainly don't go around meddling) or through my position I recognize that someone could use some help, I often recommend listening to Dave Ramsey, or getting his book. About as "basic" as you can get (don't spend more than you make, save first, etc), with at least a plan of how to get out of bad situations. I don't 100% agree with everything he says, but for that crowd in particular, I think it helps tremendously.

*He also gets/got rich off of being Captain Obvious to the masses
 
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