Here's the last entry in our short series about successful people sharing financial advice. Today's advice is from Robert Kiyosaki, author of "Rich Dad, Poor Dad":
"Buy oil! As soon as the kids are born. Oil consumption is up, but supply is down. Get a mutual fund that sells oil stocks -- Exxon, Mobil, but not Enron! A barrel of oil was $10 in 1998; now it's $50."
I have a couple oil stocks and they've done very well the past year or so. But this is only a PART (and a small one) of my overall portfolio. I'm sure he's not suggesting a majority of your money should be in oil.
A) Kiyosaki is a scam artist
B) oil is a commodity. Energy is energy, it doesn't matter where and how you get it from. As soon as oil hit certain price, other forms of energy will be profitable enough to eat into oil's margin.
C) also as a commodity, price affect by supply and demand greatly. Buying oil is like buying steel. Just not long ago, oh let's say 10 years ago, when both Europe and Asia hit a road block and growth, oil demand went down. Gas price was UNDER 99 cents/gl.
C) I really start to dislike the "Best Advice" section
Posted by: javasoy | August 10, 2005 at 03:39 PM
Robert Kiyosaki's "Rich Dad" is a cyborg.
Or, he might as well be a cyborg. Because he's about as real as one.
Posted by: David Hobbs | August 22, 2008 at 04:30 AM