The Donald

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Jun 6, 2007 10:38 am

I've always respected Donald Trump's accomplishments, but I've never really liked the guy. However, I'm reading a book by him and Robert Kiyosaki and have found it to be extremely enlightening--even though they're very rough on financial advisors.


At one point they make sure the whole world knows that "it takes longer to become a massage therapist than it does to become a financial advisor."


Ouch.

Jun 6, 2007 10:50 am
Borker Boy:

I've always respected Donald Trump's accomplishments, but I've never really liked the guy. However, I'm reading a book by him and Robert Kiyosaki and have found it to be extremely enlightening--even though they're very rough on financial advisors.


At one point they make sure the whole world knows that "it takes longer to become a massage therapist than it does to become a financial advisor."


Ouch.



Sad but true.  There's a lot of people in our business who just aren't qualified.

Jun 6, 2007 2:01 pm
joedabrkr:
Borker Boy:

I've always respected Donald Trump's accomplishments, but I've never really liked the guy. However, I'm reading a book by him and Robert Kiyosaki and have found it to be extremely enlightening--even though they're very rough on financial advisors.


At one point they make sure the whole world knows that "it takes longer to become a massage therapist than it does to become a financial advisor."


Ouch.




Sad but true.  There's a lot of people in our business who just aren't qualified.



I don't know how long it takes to become a massage therapist, but I do know of those two, the former is a tasteless, loud-mouth buffoon who largely fell into his position in life (thanks Daddy) and the latter is a complete and total fraud.

Jun 6, 2007 2:03 pm

Sad that people will probably not read this and make the distinction between an unqualified financial advisor and a GOOD financial advisor rather than just deciding that they don't need a financial advisor.


My boyfriend just finished reading several of Kiyosaki's books and won't stop debating with me over the issue of 'needing a financial advisor'.  Because Kiyosaki's books are very "anyone can do this" encouraging, he's now convinced that he'll be able to read a few books about the stock market and begin trading and making money all on his own. Similarly, his boss (a very successful real estate broker) has a husband who is retired and day trades as his hobby, refusing to take their sizable assets to an advisor.


Do people like this frustrate you, or do you sit and wait until they inevitably get in over their heads and come asking for help?

Jun 6, 2007 2:05 pm
mikebutler222:
joedabrkr:
Borker Boy:

I've always respected Donald Trump's accomplishments, but I've never really liked the guy. However, I'm reading a book by him and Robert Kiyosaki and have found it to be extremely enlightening--even though they're very rough on financial advisors.


At one point they make sure the whole world knows that "it takes longer to become a massage therapist than it does to become a financial advisor."


Ouch.



Sad but true.  There's a lot of people in our business who just aren't qualified.



I don't know how long it takes to become a massage therapist, but I do know of those two, the former is a tasteless, loud-mouth buffoon who largely fell into his position in life (thanks Daddy) and the latter is a complete and total fraud.



Honest question Mike-why is Kiyosaki a fraud?

Jun 6, 2007 2:29 pm
joedabrkr:


Honest question Mike-why is Kiyosaki a fraud?





http://www.johntreed.com/Kiyosaki.html

Jun 6, 2007 3:28 pm
AllREIT:
joedabrkr:


Honest question Mike-why is Kiyosaki a fraud?



http://www.johntreed.com/Kiyosaki.html


http://www.thesimpledollar.com/2007/01/26/deconstructing-rob ert-kiyosaki/

Jun 6, 2007 3:47 pm

Interesting stuff Mike.  I don't know where you find all this stuff....I know Google is my friend.

Jun 6, 2007 3:52 pm
joedabrkr:

Interesting stuff Mike.  I don't know where you find all this stuff....I know Google is my friend.



Google's my pal, too.



This isn't the first time that guy's name has come up here, so I'm familiar with the criticism of him. What sealed it for me was seeing him on CNBC saying you can't lose money in real estate or gold and that buy any intangable (stock, mutual fund, etc) was crazy.

Jun 6, 2007 5:32 pm

Robert Kiyosaki; Donald Trump; Suze Orman; Jim Cramer....All different types of "for self profit" dream merchants.


Trump is particularly active on the airwaves in my part of the country.  "Once you enjoy making money..You'll become successful and happy doing it...I promise... come to my free seminar..."  Something like that....


I believe Trump is in cahoots with Bobby K....That finely dressed Hawaiian guy.


Jun 6, 2007 5:35 pm

The man looks like he has a dead animal on the top of his head.  He's a loudmouth jerk.

Jun 6, 2007 6:00 pm
Baller:

The man looks like he has a dead animal on the top of his head.  He's a loudmouth jerk.


i can't stand donald chump. he took his dads money and blew it. he got bailed out by making deals with banks that didnt want to hold real estate.

Jun 6, 2007 6:08 pm

His daughter is hot.  That's the only nice thing I can think of to say about that weasel.

Jun 6, 2007 7:59 pm

Thing is people keep buying his crap books.  I was given one of
his books 3 years ago as a gift and when I was done reading all I could
think of is "Why do we keep paying him money."  We all know he is
a self promoting hound, and yet people keep buying his stuff and
feeding his ego, not to mention making him more $.  

Jun 7, 2007 2:35 pm

He used to say everyone should have a financial advisor. Its like anything. The client has to use some common sense when selecting someone to manage their assets.



Jun 7, 2007 5:15 pm
kap39:

Sad that people will probably not read this and make the distinction between an unqualified financial advisor and a GOOD financial advisor rather than just deciding that they don't need a financial advisor.


My boyfriend just finished reading several of Kiyosaki's books and won't stop debating with me over the issue of 'needing a financial advisor'.  Because Kiyosaki's books are very "anyone can do this" encouraging, he's now convinced that he'll be able to read a few books about the stock market and begin trading and making money all on his own. Similarly, his boss (a very successful real estate broker) has a husband who is retired and day trades as his hobby, refusing to take their sizable assets to an advisor.


Do people like this frustrate you, or do you sit and wait until they inevitably get in over their heads and come asking for help?



Your boyfriend may be surprised by the amount of time successful trading consumes. This current bull market draws a lot of people into the idea of trading for a living just like the real estate boom brought a lot of people into investment properties. Many of those people who purchased properties to flip are now left holding the bag. If you have the time to follow and learn the market it can be done but if not leave it to a professional.

Jun 7, 2007 6:19 pm

"Your boyfriend may be surprised by the amount of time successful trading consumes. This current bull market draws a lot of people into the idea of trading for a living just like the real estate boom brought a lot of people into investment properties. Many of those people who purchased properties to flip are now left holding the bag. If you have the time to follow and learn the market it can be done but if not leave it to a professional."


I have about 100 "Do-It Yourselfers" in my database... I figure I will wait about 2 weeks, see if the markets continue to 'misbehave', and laugh at how many people agree to a second opinion when I call them up.... At this rate, I may have some of them calling me by Monday afternoon....

Jun 7, 2007 6:47 pm
blarmston:

I have about 100 "Do-It Yourselfers" in my
database... I figure I will wait about 2 weeks, see if the markets
continue to 'misbehave', and laugh at how many people agree to a second
opinion when I call them up.... At this rate, I may have some of them
calling me by Monday afternoon....





Ha, I had exactly that happen this week with one of my hourly clients



ME: You need to sell BF now

Client: But its up to 124 from 118 when we last talked about it. I think I'll hold on to it.



6/7/07



Client: Oh AllREIT, you are so smart.

Jun 7, 2007 6:48 pm
AllREIT:
blarmston:

I have about 100 "Do-It Yourselfers" in my
database... I figure I will wait about 2 weeks, see if the markets
continue to 'misbehave', and laugh at how many people agree to a second
opinion when I call them up.... At this rate, I may have some of them
calling me by Monday afternoon....





Ha, I had exactly that happen this week with one of my hourly clients



ME: You need to sell BF now

Client: But its up to 124 from 118 when we last talked about it. I think I'll hold on to it.



6/7/07



Client: Oh AllREIT, you are so smart.



Hourly client?

Jun 7, 2007 6:55 pm
AllREIT:
blarmston:

I have about 100 "Do-It Yourselfers" in my

database... I figure I will wait about 2 weeks, see if the markets

continue to 'misbehave', and laugh at how many people agree to a second

opinion when I call them up.... At this rate, I may have some of them

calling me by Monday afternoon....




Ha, I had exactly that happen this week with one of my hourly clients



ME: You need to sell BF now

Client: But its up to 124 from 118 when we last talked about it. I think I'll

hold on to it.



6/7/07



Client: Oh AllREIT, you are so

smart.





And we all know that the joke is on the client.



If Allreit really DID have a brain, they would have chased BF up with Stop

orders, locking in the gains.