I went to a free seminar where they give you a little demonstration, basically it is a software that tells you which shares are bullish and which ones are bearish and you can sell and buy …the course is about 0 and the software is like a month…I wan to know if soemone out there is using it and what the result have been….Thanks a bunch
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3 Comments on “Has someone attended a stock market course by Rich Dad Poor Dad?”
Net Advisor™ 28th January 2010
First, Robert Kiyosaki made his money in selling his business, not from real estate, and not from the stock market.
http://finance.yahoo.com/expert/bio/richricher/robert-kiyosaki
He is a brilliant charismatic speaker, and had further success in selling a ton of books. This is not a qualification to be a financial expert. Wikipedia.org notes some inaccuracies and controversies:
http://en.wikipedia.org/wiki/Robert_Kiyosaki#Criticism_and_controversy
A lot of these public speakers accelerate their wealth by the selling of books, seminars and materials.
I am always amazed how people who are wealthy think they can be experts in any field.
He, and like most others who rarely are able to recognize market tops because that would require a financial understanding outside of real estate was also touting his real estate programs through the bust of 2007-2008.
There are a of people who are using the MACD study which is prob what this program is, and then sell it to people who have no clue about investing and tell you how easy and simple it is to just buy and sell.
They use hindsight to tell you what you could have bought and sold. That is not how to make money in the markets, and it is not that simple. If these programs were so accurate then everyone would be a millionaire in no time.
I am very familiar with how these programs work, and have access to some 67 technical studies that can be auto plugged into charts.
There is not study that guarantees success.
Although useful, the problem with the MACD study is that depending on the time period one is using (1 minuet chart, 5, minuet chart, 15 min chart etc..) will generate a ton of buy sell signals. The limitation of the program is that one will never be able to take advantage of every trade because of the limitation of margin. Unless of course you have millions to day trade with and taking daily wash sales is not of importance to you.
wash sale
http://www.investopedia.com/terms/w/washsalerule.asp
Any program, book, ad, etc, that uses words like "revolutionary" "miracle" "magic" etc, should be avoided.
Apparently he has a new book coming out, "Conspiracy of The Rich." This will wet all the paranoid liberals who think everything they don’t have is a conspiracy. Please their no "Conspiracy." All these titles do for me its tell me how less credible a person is because it is a false statement.
What these people seek to do is get an upfront big payment then annuitize their business.
$30 a month is actually very inexpensive but the way these programs are sold is misleading in my view. I would not buy it.
I’m sure he will try and take credit for the 2007-2009 tank, but again I saw his seminar program and he was still ever so bullish on the real estate market right through the top. (I got to a ton a program to see what snake oil is being marketed now.)
I like to his what HIS and all the these other hyped stock get rich quick programs and the other people promoting them and let’s look at their stock market and real estate portfolio from like from 2009-2009.
My favorite book of his from a cynical point of view is:
"Rich Dad’s Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming… and How You Can Prepare Yourself and Profit from It! (October, 2002).
Note: The stock market had already fallen from 2000-2002, then bottomed in Oct 2007, and ran for 5 years up! So this as a complete miss. he was not the only one. Harvard economists Harry Dent also touted in the late 1990’s a book and seminar called, "The Great Boom Ahead." I think the book should have called, "The Great Ka-Boom Ahead."
Recent blog post:
Channeling Stocks: Does it work or is it hype?
http://profiles.yahoo.com/blog/CUXTCCBSBYDZODXWGYK2IZDOOI?eid=AkvscdlhyXpvmwBSdtds1pbKhTtiSJTWTEHSdzG5zCOG5sYH5g
Answered related question last year:
http://answers.yahoo.com/question/index;_ylt=AlALSgOvVDow4eer4V.5icLty6IX;_ylv=3?qid=20080609084500AAc1J69&show=7#profile-info-aIY8eJDBaa
moke35 28th January 2010
95% of these type programs prey on a persons desire to get financially ahead. I Know of nobody that has achieved wealth by doing what these snake oil doctors sell.
InspectorBudget 28th January 2010
You would do yourself a big favor by ignoring this "opportunity".
The software is not foolproof and cannot predict events that turn a stock around in a moment – like war, earthquake, or other unforeseen events we call "black swans".
If you really must go into this, do proper diligence by researching the company & product thoroughly before you plunk down your hard-earned money.