I hate Robert Kiyosaki. I think he's a charlatan, a self-promoter, and, most of all, an idiot. The real estate guru's guru, John T. Reed, wrote an excellent piece on everything that is wrong with Robert Kiyosaki and his best known book Rich Dad, Poor Dad. I'm disappointed that Yahoo! has elected to put his column next to columns by respected experts. Yes, I know: He sells well. But a personal finance website should give its readers good advice: Advice that actually makes sense, from someone who knows what he's talking about. Kiyosaki's columns suffer from the same problem as his book. As Reed writes:
A reader recently suggested that Rich Dad Poor Dad is nothing but a collection of cliches about money. Old cliches. Cliches that have been around since way before Kiyosaki claims "rich dad" originated them. The reader further said that Kiyosaki then appears to have simply made up a bunch of accompanying phony stories to fill the cliche collection out to the length of a book.
Take Kiyosaki's latest column for example (I won't link to it because I wouldn't want to expose any innocent person to this). He tells that he realized that bull market in real estate was over when the cashier at the grocery started to discuss the real estate market with him. Hmm...That sounds an awful lot like J.P. Morgan's realization that the market was about to crash when a shoe-shine boy gave him a stock tip. Kiyosaki has such a nice collection of these sort of anecdotes that I can reach only one conclusion: He's probably making them up.
Just for fun, here are some of the comments Yahoo! readers left on the site about his column (Note: I'm only including negative ones):
This guy always states the obvious- stay out of debt, buy cheap real estate, and worry about pending economic doom. Keep in mind he's no Warren B. & has no useful advice for real investors or anyone tuned into the real business world. His writing is simple & shallow with no examples to justify his claims. Anyone can write a book or articles using such a generalized no basis approach.
...Mr Kiyosaki's writings are targeted to the lemmings and sycophants of the world, not serious students of investing. Yahoo should quit publishing this moronic double-talk and find a writer who has a better handle on reality. Maybe Britney is available!
Like everyone else, I think this guy is a joke. However, I'm glad to see that there is a comment section. Hopefully Yahoo catches on and replaces Kiyosaki with someone who can actually help people.
I guess Rich Dad also taught him how to be a no-talent, nose-in-the-air hack. What a gasbag!
Yahoo! has Kiyosaki's garbage running next so such stalwarts as Suze Orman, David Bach, Jeremy Siegel, and other legitimate experts who have a lot to offer. It's time for Yahoo! to do the right thing and fire the Rich Dad. What do you think? Should Yahoo! dump Kiyosaki?
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Reader Comments (Page 1 of 1)
2-23-2007 @ 4:32PM
Damanick said...
He tells the truth and its usefull information. We have different opinions. I like your blog though... check out mine at StreetBlabber.blogspot.com
2-24-2007 @ 7:06PM
Jeff Delagado said...
I love the Robert K haters. Robert K, who I know personally loves these type blogs and negative articles about him. It draws more attention to him, DUDE!!!!!!
Keep them going!!!!
As for this blogger, consider where his point of view comes from- he's an employee who went to school, got good grades, got a SAFE, SECURE job with benefits/401k who invests for the LONG TERM and diversifies, diversifies, and diversifies.
No wonder he can't relate to entrepreneurs like Robert Kiyosaki!!!!
Jeff Delagado