Monday, January 29, 2007

The Simple Dollar on Robert Kiyosaki

Trent at The Simple Dollar writes about Phoenix's bogus financial wizard, Robert Kiyosaki, and gets a bunch of loonies appearing in the comments, including Amway advocates.

Trent gets it right, though probably doesn't even go quite far enough in condemning Kiyosaki. I recommend John T. Reed's overview of Kiyosaki, and Einzige's extensive series on John Burley (who has occasionally teamed up with Kiyosaki).

UPDATE (January 30, 2007): Mike Linksvayer has been prompted to comment on Kiyosaki, and his remarks are well worth reading.


Einzige said...

I agree that Trent seems to have taken on Kiyosaki with kid gloves.

Tarun Trikha said...
This comment has been removed by a blog administrator.
starleads said...

You must have some reason to criticize anything . Would like to know what are your opinions on it rather than pointing to someone else's misinterpretations.

Lippard said...

Gagan: What "misinterpretations"? Be specific.

I read _Rich Dad, Poor Dad_, and my opinion is similar to Trent's and John T. Reed's. Kiyosaki strikes me as a huckster who makes his money from selling his platitudes, not from doing what he claims others can do. It's very similar to how many of the wealthiest Amway distributors made their money--from selling "tools" to their downlines, rather than through the Amway business.

Lippard said...

Gagan, your blog points to this letter from Kiyosaki in response to Reed. That letter doesn't really respond to any of the specific criticisms Reed makes--for example, it doesn't respond to Reed's point about Kiyosaki's false tax claims, or that "rich dad" is a fictional character.

Einzige said...

Something tells me that gagan won't be back.

Based on his blog, he's the worst sort of true believer - on a par with my favorite ├╝ber-Burleyist, Robyn Grinter.