You can do it!
You can do it!
ping
Nice ad. I agree with it, but it’s still just marketing.
Complete deconstruction of Robert Kiyosaki: link
"Rich Dad, Poor Dad is one of the dumbest financial advice books I have ever read. It contains many factual errors and numerous extremely unlikely accounts of events that supposedly occurred.
"Kiyosaki is a salesman and a motivational speaker. He has no financial expertise and won’t disclose his supposed real estate or other investment success."
"Rich Dad, Poor Dad contains much wrong advice, much bad advice, some dangerous advice, and virtually no good advice." Reed's site has tons of other interesting info about RK who is only one of the financial gurus who Reed has reviewed.
“investor group are 20% of the population but have 80% of the wealth”
They must not have looked at my portfolio recently.
Ever wonder where the big guys make their money? It's oil and real estate. RE won't be coming back soon, but oil is what fuels the world and it will re-bound more than any other investment when the world economy starts to head back up. Yes, currently oil is a long term play, but it will be back over $100 bbl within a couple years. Oil is now priced at low $40's and possibly going lower. You could double or triple your money in 3 years. There is no other resource as needed as oil.
Although there is a glut of oil right now, with all containers and ships sitting full of the stuff, once the world has the slightest indicator that things are turning around, guess what will be go up in price first? Gold? No. Copper and other commodities, maybe.
Oil is involved in EVERY aspect of you life. From the computer your looking at to the dishes you buy to the plastic everything you purchase. If it isn't directly involved in the manufacturing process, it transports those items to your local store.
BTW, green tech has taken a big hit since oil went down in price. Many green companies are bust because of that and can't get credit from the financial institutions due to credit crunch. Although, some years from now green energy can be big plays, also.
I would also say the thing about consumer goods/service, but those equities are over-bought because the smart guys realized that people need basic consumer staples as the market fell. Too late to get into them, unless you're okay with a 10% return after losing some 40% of your portfolio.
Bottom line: Buy on panic and sell on optimism. I'm buying more oil and natural gas. Also, look at healthcare, but not providers. If Obama, Reid, Pelosi nationalize healthcare, the providers will be first hit. Buy ISRG or large pharmaceuticals. They will still benefit even if our health system is nationalized. Do your research on that one. I'm already up on ISRG.
Just think ahead, folks. We're in for a long recession, if not depression. Once things turn around as they always do, think about what will be most needed to fuel the recovery. Oil. Then once discretionary spending starts back up think about where Americans will spend their "fun" dollars.
At that time, I will be looking at the 80% drop in Vegas stocks. If I had been looking forward rather that following trends in sectors (chasing the money), I would have realized that this downturn would make Netflix a fortune for investors, as it has done. People are staying home and renting movies. We should have all seen that.
Just think ahead. It may take more years than most recessions, but be ready to buy into opportunities. Right now, it's oil. It will only go back up. Once China, India, Brazil, and other emerging markets get past this world-wide recession, they will need more oil than ever and I buy them. Just be ready to hold for a few years and than SELL.
The old adage of buy and hold in this global economy is no longer the correct strategy. Peter Lynch had it right for a time long ago. He's now wrong. Buy low, sell high used to work. Now, it's buy low, sell medium and make a 50% profit rather than waiting for a 3-500% profit from the old dot.com bubble thinking. Don't be greedy.
Kiyosaki is a motivational speaker that seels gimmicks and should not be relied on for any real world business advice. As fun and exciting as his marketing materials may appear to the regular guy, do not rely on them. They are full of holes as is he.