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Terrible books top this year's personal finance best-sellers

The Wall Street Journal published a list of the best-selling personal finance books of 2006 in the weekend edition. The article focused on the fact that only one of the bestsellers was published this year. But there was something else that jumped out: How truly awful many of the best-selling titles were.

rich dad poor dadNumber 1 was Robert Kiyosaki's perennial bestseller Rich Dad Poor Dad, which is easily the worst of the 200-plus investing/personal finance books I've read. The fact that it's written at about a third-grade level aside, it is chockful of hackneyed advice, bad advice, and just plain weird advice. He actually suggests insider trading as a way to make money in the stock market. There is also something vaguely creepy about Kiyosaki's resentment of his father who devoted his life to public service. Kiyosaki needs some counseling. For an excellent write-up of all that is wrong with this book, visit the site of real estate guru's guru, John T. Reed.

why we want you to be richKiyosaki also shows up at number three on the list, this time with the book Why We Want You to Be Rich, with the one, the only, and the all-too omnipresent Donald Trump. There's something really amazing about this collaboration. Most intelligent investors have long suspected that Donald Trump and Robert Kiyosaki were full of it. By collaborating with each other, each has successfully destroyed any credibility he might have had. It's like Michael Bolton's duet with Kenny G. It just makes you hate both of them a little bit more.

Continue reading Terrible books top this year's personal finance best-sellers

Jim Cramer leaves radio, focusing on video: is audio-only dead?

jim cramerJim Cramer is many BloggingStocks readers' favorite personality: he's brash, he's loud, he's smart. Although his CNBC shows, Mad Money and Stop Trading! have insanely high ratings, I've always thought of him as perfect for radio; so few of his bells and whistles really need your attention visually. It's all about the (literal) bells and whistles, moos and catcalls with Cramer.

Yet, today the announcement: Cramer is set to end his radio show, RealMoney with Jim Cramer, to "focus on TheStreet.com Inc.'s video and multimedia initiatives." December 1, this Friday, will be the final nationally syndicated radio show. From now on, if you want Cramer? You'll have to get it on CNBC or purchase one of his sponsored videos.

This may be good news for TheStreet.com, Inc. (NASDAQ:TSCM), the company founded by Cramer and a single-minded Cramer-hyping machine. They're sure to get lots more revenue from those Cramer fanatics out there. The stock was up 40 cents, a whopping 4.78%, to $8.76 on the news. But it's bad news for radio, and especially CBS Corporation (NYSE:CBS), whose stock was down a few cents to $30.03 for the day.

Will we see a downfall in radio? Is our world so image-obsessed that we can't live without the visages of our favorite personalities? Or is this just a play of greed by Cramer and TheStreet.com -- they didn't like to share any of the profit with CBS and its radio affiliates? Is audio-only dead?

Cramer stays positive on TWX

Investing expert Jim Cramer stayed positive on Time Warner, Inc. (NYSE: TWX) today. Other than Verizon (VZ), Cramer said on his "RealMoney" radio show that he's focused on Time Warner (TWX). "When times are tough and you have a big brand name, it takes a lot, not only to admit that changes need to be made, but for them to actually to take place," he said.

He also said that with Time Warner considering a spinoff of its whole magazine division, there is more proof the company is going to focus on profitability.

Cramer noted that even with TWX having moved from $16 to over $19, it can go higher -- despite the nay-sayers. He also compared it to Comcast (CMCSA) when it was going up and people thought it couldn't rise much more. And yet that stock still looks like it's going even higher. Cramer noted Time Warner was almost as good as Comcast.

Cramer said he wants people in this stock ahead of the report this week. He said it has earnings power and should go up to $24, and, he noted, we have yet to see the best out of the company.

Symbol Lookup
IndexesChangePrice
DJIA-74.9212,454.83
NASDAQ-1.852,837.53
S&P 500-2.861,317.82

Last updated: May 28, 2012: 10:19 PM

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