Bonus FAQ #5: Is There a Program for Me? FAQ I’m a pretty sophisticated investor. Will your programs help me? Short Answer Probably not. Explanation Our education and coaching programs are for people who want to learn, not for people who think they know all the answers. In the recent financial crisis, millions of people lost trillions of dollars following the advice of people who knew all the answers. You may recall that the leaders of Enron were often referred to as “the smartest guys in the room.” Today, Enron is gone and the employees of and investors in Enron are also gone. Remember Lehman Brothers? Lehman was run by really smart men and women, many from our best schools. Today, they’re gone, too. Merrill Lynch, the stock-brokerage house advising millions of clients, was on the verge of going bust before they were saved by Bank of America. And what about all the financial gurus on TV? They’re really smart people. Why didn’t they tell the world to get out of the stock market? Why are they still giving financial advice today? Then there’s Ben Bernanke. How can the Federal Reserve Bank Chairman say (on June 9, 2010), “I don’t fully understand movements in the gold price?” If he controls the most powerful bank in the world, isn’t he supposed to be one of the smartest people in the world? Even if you made millions between 2007 and 2010, you can still learn more. The period between 2007 and 2010 were the best years of my investing career. I made millions, and I know I can still learn more.
by Rich Dad, Robert Kiyosaki