GuruWatch

Remember that comedy routine from Jeff Foxworthy? You know, the one that starts with “you know you’re a redneck if ….”? I’m not that creative to create an entire list, but we can certainly start one about so-called financial gurus and keep adding to it, right? Let’s jump right into it!

You know you’re a Guru if …
You have your own learning annex seminar. The learning annex boasts speaker line-ups such as Donald Trump, Rich Dad Robert Kiyosaki, Suze Orman, and yes Jim Cramer of CNBC’s Mad Money fame. In this video from this past weekend’s seminar, you’ll see Jim recommend 5 stocks. In classic guru fashion, this is how he announced his recommendations:

“We want to win and there are winnings to be had […] I need everyone in this audience to buy one share of these 5 stocks I’m about to mention. 1 share! 1 share will do it!”

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Robert Kiyosaki, on his latest article for Yahoo! Finance’s “Why The Rich Get Richer?” column, wants people to stay away from financial predators. He names notable people from financial scandals such as Ken Lay, Jeff Skilling, Dick Grasso. Kiyosaki even cites examples from G.E. and AOL’s past with Jack Welch and Steve Case.

You won’t find me disagreeing with Kiyosaki about his rogue gallery roster. (Did I just write that?) Especially his point that these wealthy white-collar crimminals have not seen a day of jail time. And just like Donald Trump, the co-author of Kiyosaki’s latest book, Kiyosaki doesn’t believe that jailing Martha Stewart while not touching the others displayed any commitment on the system’s part to weed out its abusers. I’ll also agree to this observation, but… (and there’s always a but with Kiyosaki)

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Suze Orman often asks people the following question:

“What keeps you from doing that which you know you should do with your money?”

It is a very relevant and important question. But many people seem to put off facing such pointed questions.

Have there been situations where you have done something financially that you felt deep-down you probably shouldn’t do? Comment below.