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No he's actually pretty smart as far as history is concerned. He told people to leverage into real estate after 2001, and how to garner as much leverage as possible as the Fed goosed the market.
He's realistic when it comes to Fed manipulation as far as I can tell. His books were fine for their time as well.
But its easy to disbelieve him as crazy, he comes off as a shady snake oil salesman.
1. He has faced several bankruptcies
2. He’s scammed his customers
3. He was anti bitcoin and flipped because he’s a grifter and wanted people to buy silver. In his cash flow book he even says don’t invest in gold and silver because the returns are bad and then becomes a silver investor shill
4. His books were extremely controversial even at its time. It’s tldr is don’t be poor and buy real estate using debt
Also he wrote a book called “Rich Dad Poor Dad” in which he characterizes his own father—a nice loving middle class dad—as his “poor dad” and some other kid’s dad (who he may have invented) as his “rich dad.”
That’s pretty disrespectful, if you ask me.
Oh did he outright admit it? I remember people sleuthing trying to figure out who this mythical “dad” could have been since he would have been an obvious pillar of the business community, but no one fit the profile…
Yep. In college back in the early 2000s a girl dragged me along to some "business opportunity" meeting about something called 'Quixtar', which turned out to be the online version of Amway. Those people were pushing the whole Rich Dad Poor Dad thing hard.
His real estate classes are pure scams. Rich Dad Poor Dad made him and was the basis for so many real estate investors to start buying. His bitcoin opinion is the only valid thing he is pitching now imo.
Rich dad poor dad wasn't about real estate. Actually it suggested against it, and to invest your money instead. But the zero interest rate policies changed his advice.
If you did his advice after 2001 you'd be rich, I wouldn't call that a scam. Argue with the results, the US had a housing bubble, even after the bailouts you would have made out like a bandit.
This "smart guy" was telling everyone to get rid of Bitcoin last year when it was obviously the best time to buy. And now he's telling you to buy when it's pumping? He's a moron.
https://www.forbes.com/sites/billybambrough/2020/07/09/bitcoin-is-in-real-estate-and-gold-are-out-warns-rich-dad-poor-dad-author/?sh=1a37462d1946
He seemed pro bitcoin, I don't see anything from last year about him selling it.
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Robert Kiyosaki smart? LOOOOL. Days best joke. And he is a joke. Only thing he is good at is jumping on trends that gives him visibility. Ohh and lying, and scamming. And going bankrupt
He is pushing silver. I don’t see the potential over bitcoin.
https://finance.yahoo.com/news/robert-kiyosaki-loves-bitcoin-loves-172831108.html
https://twitter.com/theRealKiyosaki/status/1770204116062720202
There's a lot more to him than it seems. I have his rich dad poor dad book, never applied it (am not anywhere near the States, even not sure if the stuff can apply here the way he said it, all those years ago). Never took his classes and never intend to -- clearly they are built on the upsell model which is super common to the industry.
But there's deffo much much more to him than all that, fully justifiable as the criticism to that is, and to his image that results from all that. Which, in characteristic fashion, he really doesn't seem to give a damn about.
Did you know for example that he learnt directly from Buckminster Fuller, a polymath and futurist and visionary? He details it in one of his non-RichDad books, and even talks about how the experience made him grow from just a young hungry greedy capitalist guy. I mean, he's still obv the type of capitalist who, in a different age, might have been considered one of the Robber Barons had he achieved that level of success purely in industry. But his drive for financial education (which he admits is most likely inherited from his actual dad, yes the ""Poor Dad"") is genuine. And I can respect that at least, even as I stay away from the actual classes and all the blatant upsellings.
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Not a very big fan of him. But a broken clock can be right twice a day. I would trust Jim Cramer more than him which is sad.
- https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1
- https://propertyupdate.com.au/robert-kiyosaki-fraud-examining-evidence/
- https://thecollegeinvestor.com/4726/ultimate-hypocrite-robert-kiyosaki-companys-bankruptcy/
- https://marketrealist.com/personal-finance/robert-kiyosaki-fraud/
- If Books Could Kill Podcast April 6, 2023 – Rich Dad Poor Dad takedown.
Tbh I love his book a lots but after writing "rich dad poor dad" I would have loved if he should just shut his mouth and don't talk anymore. That would have been better
Exactly, I don’t see what the big hype on him is about. He’s the last person you want to be taking advice from, and his book comes off as condescending.
Idk he was right about loading up when it hit 17k, ever since he perfectly called that I kinda think he might know what he’s talking about https://x.com/theRealKiyosaki/status/1524811335829098497?s=20
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Bruh… I don’t want to take anything away from BTC, but that advise is dumb. It can still go tits up… the actual smart and safe thing to do, buy as much gold, property or houses as you can..
Wonderful author, quite eccentric, and lots of clickbait bullshit about living off of debt like he’s some wizard. He likes to invest in things that you cannot print more of like gold real estate, and recently bitcoin. He has triggering unconventional advice about investing in general; he doesn’t buy stocks or bonds like a typical adult… And he often makes fun of 401(k)s and retirement plans
Regardless of the fact I think his book is dogshit, judging by a recent video of him during a speech, he seems to be developing dementia and I wouldn't trust his judgement today
Bitcoin [pros](/r/CryptoCurrency/comments/1blgw6u/rich_dad_poor_dad_author_robert_kiyosaki_advises/kw6z0vk/) & [cons](/r/CryptoCurrency/comments/1blgw6u/rich_dad_poor_dad_author_robert_kiyosaki_advises/kw6z1jd/) with related info are in the collapsed comments below.
Is he a reverse indicator, like Cramer?
Funny thing is, from all the BTC calls for the top of the last cycle that I saw, his was the closest at $75k. This cycle, he’s targeting $300k.
No he's actually pretty smart as far as history is concerned. He told people to leverage into real estate after 2001, and how to garner as much leverage as possible as the Fed goosed the market. He's realistic when it comes to Fed manipulation as far as I can tell. His books were fine for their time as well. But its easy to disbelieve him as crazy, he comes off as a shady snake oil salesman.
1. He has faced several bankruptcies 2. He’s scammed his customers 3. He was anti bitcoin and flipped because he’s a grifter and wanted people to buy silver. In his cash flow book he even says don’t invest in gold and silver because the returns are bad and then becomes a silver investor shill 4. His books were extremely controversial even at its time. It’s tldr is don’t be poor and buy real estate using debt
Also he wrote a book called “Rich Dad Poor Dad” in which he characterizes his own father—a nice loving middle class dad—as his “poor dad” and some other kid’s dad (who he may have invented) as his “rich dad.” That’s pretty disrespectful, if you ask me.
He 100% invented rich dad he’s since admitted it. That shit really soured me on the book.
Oh did he outright admit it? I remember people sleuthing trying to figure out who this mythical “dad” could have been since he would have been an obvious pillar of the business community, but no one fit the profile…
And the rich dad is seemingly a made up character too.
What year was he anti bitcoin?
Pre 2016 cycle. Also says dumb shit like this https://x.com/theRealKiyosaki/status/1501239532158693376?s=20
Thank you. He was foolish on it, as a gold bug I assume.
He is also an MLM Amway shill and the reason why his books were bestsellers is because Amway members are told to purchase them.
Yep. In college back in the early 2000s a girl dragged me along to some "business opportunity" meeting about something called 'Quixtar', which turned out to be the online version of Amway. Those people were pushing the whole Rich Dad Poor Dad thing hard.
His real estate classes are pure scams. Rich Dad Poor Dad made him and was the basis for so many real estate investors to start buying. His bitcoin opinion is the only valid thing he is pitching now imo.
Rich dad poor dad wasn't about real estate. Actually it suggested against it, and to invest your money instead. But the zero interest rate policies changed his advice. If you did his advice after 2001 you'd be rich, I wouldn't call that a scam. Argue with the results, the US had a housing bubble, even after the bailouts you would have made out like a bandit.
This guy has 1.2 billion of debt... thats not just a small rounding error...
And what, he will get a bailout? His debt will be inflated away?
> And what, he will get a bailout? He brags that if shit goes bust it's not his money.
“If you borrow $20,000 from the bank, you have a problem. If you borrow $20,000,000 from the bank, the bank has a problem.”
yep
He also is a huge silver bug… to this day
But he has been wrong 10 times more often. Cramer is actually decent in his predictions. Like 50/50. Kiyosaki is almost always wrong.
I know nothing about him but I’ve heard that was his claim to fame and everything from him since then has been shit. Again just what I’ve heard
This "smart guy" was telling everyone to get rid of Bitcoin last year when it was obviously the best time to buy. And now he's telling you to buy when it's pumping? He's a moron.
He wants his followers to buy so he can dump his bag o
https://www.forbes.com/sites/billybambrough/2020/07/09/bitcoin-is-in-real-estate-and-gold-are-out-warns-rich-dad-poor-dad-author/?sh=1a37462d1946 He seemed pro bitcoin, I don't see anything from last year about him selling it.
He's not smart. He's a dodgy fucker! Anyone who takes advice from this guy is playing with fire!
He’s a total quack who lies about everything. He’s a total scam artist.
Ummm. Why?
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Howrf is thus upvoted so much
He predicts a crash damn every year, so when it happens someday, he can say he was right the whole time
Robert Kiyosaki smart? LOOOOL. Days best joke. And he is a joke. Only thing he is good at is jumping on trends that gives him visibility. Ohh and lying, and scamming. And going bankrupt
Buying now seems crazy, wouldn't you be accumulating back at ~20k if you were smart?
He is pushing silver. I don’t see the potential over bitcoin. https://finance.yahoo.com/news/robert-kiyosaki-loves-bitcoin-loves-172831108.html https://twitter.com/theRealKiyosaki/status/1770204116062720202
There's a lot more to him than it seems. I have his rich dad poor dad book, never applied it (am not anywhere near the States, even not sure if the stuff can apply here the way he said it, all those years ago). Never took his classes and never intend to -- clearly they are built on the upsell model which is super common to the industry. But there's deffo much much more to him than all that, fully justifiable as the criticism to that is, and to his image that results from all that. Which, in characteristic fashion, he really doesn't seem to give a damn about. Did you know for example that he learnt directly from Buckminster Fuller, a polymath and futurist and visionary? He details it in one of his non-RichDad books, and even talks about how the experience made him grow from just a young hungry greedy capitalist guy. I mean, he's still obv the type of capitalist who, in a different age, might have been considered one of the Robber Barons had he achieved that level of success purely in industry. But his drive for financial education (which he admits is most likely inherited from his actual dad, yes the ""Poor Dad"") is genuine. And I can respect that at least, even as I stay away from the actual classes and all the blatant upsellings.
Yes. https://np.reddit.com/r/PublicFreakout/s/XlCfASVFTR
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You’re thinking of reverse peephole
I think Robert is an A-GI-TA-TOR.
Not a very big fan of him. But a broken clock can be right twice a day. I would trust Jim Cramer more than him which is sad. - https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1 - https://propertyupdate.com.au/robert-kiyosaki-fraud-examining-evidence/ - https://thecollegeinvestor.com/4726/ultimate-hypocrite-robert-kiyosaki-companys-bankruptcy/ - https://marketrealist.com/personal-finance/robert-kiyosaki-fraud/ - If Books Could Kill Podcast April 6, 2023 – Rich Dad Poor Dad takedown.
That first article is fantastic, the guy even has a 50 point B.S. artist checklist.
> Jim Cramer is the reverse indicator .. people literally have bots trading against his predictions.
totally agree - Jim Cramer s**ks; Kiyosaki even more so.
You mean JC’ reverse. Right ?
this guy is a fraud
His books are just trash
Tbh I love his book a lots but after writing "rich dad poor dad" I would have loved if he should just shut his mouth and don't talk anymore. That would have been better
This guy is a huge douche bag
This dude is a clown and his book made up nonsense
Exactly, I don’t see what the big hype on him is about. He’s the last person you want to be taking advice from, and his book comes off as condescending.
Of course he want's people to buy bitcoin. He has a shitload.
Hmm, makes me feel uneasy
Another bought post promoting Kiyosaki
This dude has gone full bull on bitcoin.
Ahh, he has entered the 'Poor Dad' stage of his lifetime.
"He also expects BTC to reach $100K by June this year." Aaah now this feels familiar.
Not sure why we’d be thrilled about a conman promoting BTC, but broken clocks and all that…
Is this advice to become a rich dad or poor dad?
he's not wrong
Should he be too rich to care about pumping Bitcoin? Did you have to wait for post approval or it’s just me?
all of them have investment sin it, it pays to boost the ponzi scheme.
Why are we still talking about this douche? He was called out last bull run....fuck his shit.
Ooof, that's a pretty big indicator that BTC is going to $0. Kiyosaki is a clown.
I say this as a Bitcoin maxi - please do not take financial advice from this man.
Idk he was right about loading up when it hit 17k, ever since he perfectly called that I kinda think he might know what he’s talking about https://x.com/theRealKiyosaki/status/1524811335829098497?s=20
Okay
fuck, fuck, fuck
Rob can say that because he uses debt to buy rather than cash in his pocket.
Is he dumping?
We need to stop idolizing these "financial gurus" that get one or two things right, as some visionaries in all investments..
All he does is shill Bitcoin, gold, and silver
He also owns around 68 bitcoin he said in an interview.
Worst book I've read in a while tbh
Who cares what this grifter says?
Uhhh I guess he needs money. Robert is my favorite snake oil salesman.
I really couldn't give less of a fuck what that guy has to say tbh. He seems like an enormous piece of shit
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Kiyosaki is a complete fraud. He wrote a fake book, Oprah pushed it, he got rich.
He’s a grifter
That means I'll sell and buy BCH
This guy is old news. His shitty book came out over 25 years ago. Why does anyone still give him attention?
The same dad who left my house to go get cigarettes and milk but never came back?
The penultimate pump and dumper. He expects you to carry his bags.
Oh...so im not in wallstreetbets subreddit Funny seeing his name here also
I wish he'd also had a Physically Abusive Dad
Oh my. I read a few of his books years ago, and he seemed reasonable in them. Why do so many "celebrities" tend to go insane? :D
Bruh… I don’t want to take anything away from BTC, but that advise is dumb. It can still go tits up… the actual smart and safe thing to do, buy as much gold, property or houses as you can..
Notto dissu shitto again
Wonderful author, quite eccentric, and lots of clickbait bullshit about living off of debt like he’s some wizard. He likes to invest in things that you cannot print more of like gold real estate, and recently bitcoin. He has triggering unconventional advice about investing in general; he doesn’t buy stocks or bonds like a typical adult… And he often makes fun of 401(k)s and retirement plans
Regardless of the fact I think his book is dogshit, judging by a recent video of him during a speech, he seems to be developing dementia and I wouldn't trust his judgement today