Robert Kiyosaki

[Your Mom]

[ QUOTE ]
Its painfully obvious that none/most of you have even bothered to read the [censored] book.

I think reading a book should be a pre-requisite to criticizing its contents.

[/ QUOTE ]

I've read it. I think his basic idea is fine, but somehow he has turned this into hundreds and hundreds of pages of junk.

[notluck]

(For example, if inflation is at 5 percent and interest rates are at 5 percent, the real interest rate is 0 percent. So, in this example, to increase demand for the dollar, the Federal Reserve would have to raise interest rates above 5 percent, to, say, 8 percent. That would means investors would receive a net 3 percent return on their money.)

This is such crap, when i read his latest article i thought it was the worst one yet.



-Alex

[maxtower]

I liked the part where he owns gold mining companies in the 70s. He then said that the companies wouldn't be successful unless the price of gold went up. ???

[Evan]

[ QUOTE ]
(For example, if inflation is at 5 percent and interest rates are at 5 percent, the real interest rate is 0 percent. So, in this example, to increase demand for the dollar, the Federal Reserve would have to raise interest rates above 5 percent, to, say, 8 percent. That would means investors would receive a net 3 percent return on their money.)

This is such crap, when i read his latest article i thought it was the worst one yet.



-Alex

[/ QUOTE ]
Why did you think it was bad? What about that quote is wrong?

[Evan]

[ QUOTE ]
I liked the part where he owns gold mining companies in the 70s. He then said that the companies wouldn't be successful unless the price of gold went up. ???

[/ QUOTE ]
Gold mines that depend on gold prices incresing are a pretty classic example of real options. What is so bad about this?

[BradleyT]

I loved RDPD.

Why should I work for money when I can have my assets work for money?


And to the person who said, "I didn't read the book but just invest 60% of take home pay and you'll be OK" - that's not even close to what this book is trying to teach.

[maxtower]

Well maybe he was talking about owning stock of gold mines. I guarentee he has never owned a gold mining company.

[notluck]

What is wrong with is that interest rates aren't additive, their are mulpicative. Another words, if the fed rate is 5% and inflation rate is 5% the true real interest rate is NOT zero. Example.
I have 100 dollars which i can invest at 5%, per above, at the end of the year i will have 105 dollars, with the buying power of 99.75, thus true rate was negative 0.25%

105*.95.

And that is not all.

[Evan]

Bump!

[Sniper]

[ QUOTE ]
Bump!

[/ QUOTE ]

Evan, you bumped this thread, with a article that starts with... "I haven’t read Rich Dad Poor Dad but I assume it contains common sense" ?

Seems that the common sense should be, not critiquing a book you haven't read [img]/images/graemlins/smile.gif[/img]