Author Topic: Robert Kiyosaki - says ETFs are bad  (Read 1046 times)

bob999

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Robert Kiyosaki - says ETFs are bad
« on: February 05, 2018, 07:04:32 PM »
Hi all

Just paraphrasing Robert K. but it seems like he thinks ETFs and 'buy-and-hold' is for dumb people.

https://www.youtube.com/watch?v=YFrx9q1gycU

I don't fully trust him but found his books to be great for learning the basics. What I find strange is that he doesn't recommend index ETFs which is widely regarded as a 'good investment strategy'. I wonder what MMM would say about this video.

nereo

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Re: Robert Kiyosaki - says ETFs are bad
« Reply #1 on: February 06, 2018, 01:29:04 PM »
Hi all

Just paraphrasing Robert K. but it seems like he thinks ETFs and 'buy-and-hold' is for dumb people.

https://www.youtube.com/watch?v=YFrx9q1gycU

I don't fully trust him but found his books to be great for learning the basics. What I find strange is that he doesn't recommend index ETFs which is widely regarded as a 'good investment strategy'. I wonder what MMM would say about this video.

I would not trust Robert Kiyosaki at all.  He is a huckster and a charlatan.  His Rich Dad Poor Dad book is fun reading, and can be motivational for someone just starting out, but it's certainly not the factual account he made it out to be.  His motivational seminars are money making shams, and as you noted his distain for ETFs and buy-and-hold investing is well documented and (IMO) a dangerous message to market to people just learning about personal finance.
"Do not confuse complexity with superiority"

caracarn

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Re: Robert Kiyosaki - says ETFs are bad
« Reply #2 on: February 06, 2018, 01:56:55 PM »
I'd agree.  I read Rich Dad Poor Dad at one point and found it entertaining.  Even signed up for his e-mail messages, but found them full of the junk you get from any of those hucksters.  The only way to make money in finance is to make it seem complicated and selling people on scenarios that increase complexity.  Watching an index portfolio slowly rise is not exciting and therefore people feel there has to be a faster way so people like him find a way to sell snake oil and make money.

LennStar

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Re: Robert Kiyosaki - says ETFs are bad
« Reply #3 on: February 13, 2018, 07:56:36 AM »
Hi all

Just paraphrasing Robert K. but it seems like he thinks ETFs and 'buy-and-hold' is for dumb people.


Well, it's true. It is a technique that gives average results (in fact better then average if you look at managed fonds) for nearly no effort at all.

It is like rice cooking for dumb people: Take the rice cooker, put in rice and water, press the switch and wait until it's done.
Can you make better rice? Sure. Is it worth for you to train for years making better rice by hand? Not for 99% of people.

caracarn

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Re: Robert Kiyosaki - says ETFs are bad
« Reply #4 on: February 13, 2018, 09:43:00 AM »
Hi all

Just paraphrasing Robert K. but it seems like he thinks ETFs and 'buy-and-hold' is for dumb people.


Well, it's true. It is a technique that gives average results (in fact better then average if you look at managed fonds) for nearly no effort at all.

It is like rice cooking for dumb people: Take the rice cooker, put in rice and water, press the switch and wait until it's done.
Can you make better rice? Sure. Is it worth for you to train for years making better rice by hand? Not for 99% of people.
I like that!  Well put.  Maybe send that to Robert.  You might give him and idea for his next book "Rice Dad Potato Dad"

libertarian4321

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Re: Robert Kiyosaki - says ETFs are bad
« Reply #5 on: February 14, 2018, 04:14:37 AM »
I think it's important to remember that Robert Kiyosaki was a broke-ass bankrupt failure until he figured out how to sell "get rich" schemes to suckers.

He didn't get rich investing.

He didn't get rich in real estate.

He got rich selling the dream (in the form of books, tapes, seminars).  Just like every other "get rich" huckster.

He's just another in a long line of "get rich" hucksters who mixes a little truth, a lot of BS/liesexaggerations and high energy presentation to suck fools into thinking he's an expert on money.

I wouldn't trust this clown to walk my dogs, let alone give me financial advice.

Because I love my dogs.  And I actually like making money.



nereo

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Re: Robert Kiyosaki - says ETFs are bad
« Reply #6 on: February 14, 2018, 05:30:29 AM »
I think it's important to remember that Robert Kiyosaki was a broke-ass bankrupt failure until he figured out how to sell "get rich" schemes to suckers.

He didn't get rich investing.

He didn't get rich in real estate.

He got rich selling the dream (in the form of books, tapes, seminars).  Just like every other "get rich" huckster.

He's just another in a long line of "get rich" hucksters who mixes a little truth, a lot of BS/liesexaggerations and high energy presentation to suck fools into thinking he's an expert on money.

I wouldn't trust this clown to walk my dogs, let alone give me financial advice.

Because I love my dogs.  And I actually like making money.
I've never thought about it in this way before, but that's one of the reasons I like this forum.  Unlike so many "get rich" huckters Pete gained FI early through his engineering job and the simple act of saving.  He onyl started blogging about it after, and he didn't start writing about it to gain fantastic wealth - the blog income was almost accidental and never the point.
"Do not confuse complexity with superiority"

actionjackson

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Re: Robert Kiyosaki - says ETFs are bad
« Reply #7 on: February 15, 2018, 11:49:17 PM »
Yeah there was another property guy about a decade ago that had a website all about how RK was a scam. Now there are a few sites that detail his statements vs. research.

I started out on these books when I was about 15/16. At 21/22 I was more onto Buffet/Graham etc. I had the benefit from learning from my father, as he went through the financial learning curve and eventually realized that RK was FOS.

The MMM, if it was a lifestyle scam, would be a pretty average one. It's pretty hard to sell the minimalist lifestyle. You don't see photos on the MMM site with ferrari's and lavish mansions. Like that young kid on youtube that does shit like those handheld videos where he has expensive cars or bookshelves behind him and he craps on about how he reads 100s of books a year, blah blah blah.