Exposing the fake financial "Gurus" destroying your net worth
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Top Comments (10)
I signed up to Kiyosaki's email list in 2020 / 21, and i became immediately bombarded with emails from partner guru/experts. Among them was Paul Mampilly who sold a membership that included stock tips. I signed up and began to buy some stocks. Five years later most of the stocks are still down by 70% to 99% ! – Terrible!
Every story in this episode is secretly the same story. Blankfein day trading 70% of his net worth (11:09), panic sellers who never return to equities (13:46), hedge fund managers whose sells lose to literally selling at random (14:05), the cowboy account as a containment zone for the itch (4:43). The villain is never knowledge - it's activity. And the funniest part: Barry runs an $8B firm whose real product isn't stock picking, it's charging 70bps to stand between clients and their own hands. "Make fewer decisions" is the whole book in three words. Also 31:08 is the cleanest guru takedown I've ever heard: defending a bad forecast with "well, he couldn't have known the future" IS the entire argument against making forecasts.
This channel just gets better and better! Thank you!
I like this. Ritholtz(if I spelled it correctly) was just honest . Some of us should just broad index instead of day trading if we don't know.
*Get our Investment Guide:* https://clickhubspot.com/d97h
Guy Kawasaki 😂 Shaan was thinking about Robert Kiyosaki
The advice that holds up is always the boring kind. Same in my industry, recruiting has its own gurus selling shortcuts and the fundamentals still win every time. Great episode guys
I never get tired of listening to Barry, always a great interview!
Fascinating stuff! Love it.
Great listen. Thanks!
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Top Comments (10)
I signed up to Kiyosaki's email list in 2020 / 21, and i became immediately bombarded with emails from partner guru/experts. Among them was Paul Mampilly who sold a membership that included stock tips. I signed up and began to buy some stocks. Five years later most of the stocks are still down by 70% to 99% ! – Terrible!
Every story in this episode is secretly the same story. Blankfein day trading 70% of his net worth (11:09), panic sellers who never return to equities (13:46), hedge fund managers whose sells lose to literally selling at random (14:05), the cowboy account as a containment zone for the itch (4:43). The villain is never knowledge - it's activity. And the funniest part: Barry runs an $8B firm whose real product isn't stock picking, it's charging 70bps to stand between clients and their own hands. "Make fewer decisions" is the whole book in three words. Also 31:08 is the cleanest guru takedown I've ever heard: defending a bad forecast with "well, he couldn't have known the future" IS the entire argument against making forecasts.
This channel just gets better and better! Thank you!
I like this. Ritholtz(if I spelled it correctly) was just honest . Some of us should just broad index instead of day trading if we don't know.
*Get our Investment Guide:* https://clickhubspot.com/d97h
Guy Kawasaki 😂 Shaan was thinking about Robert Kiyosaki
The advice that holds up is always the boring kind. Same in my industry, recruiting has its own gurus selling shortcuts and the fundamentals still win every time. Great episode guys
I never get tired of listening to Barry, always a great interview!
Fascinating stuff! Love it.
Great listen. Thanks!