JohnH comments on The 5-Second Level - Less Wrong

111 Post author: Eliezer_Yudkowsky 07 May 2011 04:51AM

You are viewing a comment permalink. View the original post to see all comments and the full post content.

Comments (310)

You are viewing a single comment's thread. Show more comments above.

Comment author: gjm 10 May 2011 06:27:54PM 5 points [-]

Kiyosaki's "Rich Dad, Poor Dad" has also received some extremely harsh criticism, some of it at least from people who seem to have a clue what they're talking about. I haven't looked at it myself and am not a financial expert, but would advise anyone considering reading it and/or taking Kiyosaki's advice to exercise caution.

Comment author: JohnH 15 May 2011 06:15:44AM 3 points [-]

The same can and should be said about any book that purports to advise people on how to become rich.

I wish people were required to include in the appendix of such a book their net worth as independently assessed by an external audit and tax returns and other filings presented to show that they are wealthy and have actually gained that wealth in the manner described by the book.

Even then caution would still be needed as if markets are efficient (or even slightly efficient) then something that provided market beating returns 3-5 years ago (or however long it has been since they gained their wealth) should be expected to only provide market rates of return currently.