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I haven't read his book but I've watched my parents try to follow his ideas and I'm worried they're going to bankrupt themselves. They're not dumb, my dad has a

I haven't read his book but I've watched my parents try to follow his ideas and I'm worried they're going to bankrupt themselves. They're not dumb, my dad has a much more successful career as an SWE than I've had (at least so far) but he's never been great with investing his money. There are so many bad ideas out there. You really have to be discerning. I don't really know what else to say but I'm glad I never expected an inheritance. EDIT: I'm out of comments for today but they encourage leverage (specifically with mortgages) without really talking about how VAR works. I'm not sure if it came from the author or somewhere else but they have this really bizarre idea about how real estate markets work. The models he comes up with flat out don't sound like viable economies to me.

sumtechguy 2y ago
The advice out there is all over the place. I use the Warren Buffet advice. 'if I cant understand it I dont do it'. The problem is many people fall into the trap of 'i am smart at XYZ so therefore I am smart'. For me excel has save me many times from doing some really dumb things. Just put the numbers in. Do a 'everything is good' role and 'everything is bad' many times you will be surprised on how those numbers pop out. After the beating the market has taken for the past few weeks I bet there are many people who are now at 'margin call' having borrowed against assets that no longer exist.
- 01HNNWZ0MV43FF 2y ago
  I've been happy with my "get rich slow" scheme on stock indexes the last 7-ish years. > the beating the market has taken for the past few weeks Yeah I saw someone on Fediverse say the stock market was crashing too. I held through 2020 so... No this is really not a crash, I wouldn't even call it a beating. I have drastically slowed down my investments the last 4 years both because of COVID and because I'm saving cash for something special I want, but I'm planning to get back into regular contributions soon.
epolanski 2y ago
What bad ideas are in the book that could bankrupt your parents? Don't buy stuff you don't really need and invest your money is really not a way to bankrupt.
- CommieBobDole 2y ago
  'Invest your money' is a great way to go bankrupt, if you choose bad investments.

sumtechguy 2y ago

The advice out there is all over the place. I use the Warren Buffet advice. 'if I cant understand it I dont do it'. The problem is many people fall into the trap of 'i am smart at XYZ so therefore I am smart'. For me excel has save me many times from doing some really dumb things. Just put the numbers in. Do a 'everything is good' role and 'everything is bad' many times you will be surprised on how those numbers pop out. After the beating the market has taken for the past few weeks I bet there are many people who are now at 'margin call' having borrowed against assets that no longer exist.

01HNNWZ0MV43FF 2y ago
I've been happy with my "get rich slow" scheme on stock indexes the last 7-ish years. > the beating the market has taken for the past few weeks Yeah I saw someone on Fediverse say the stock market was crashing too. I held through 2020 so... No this is really not a crash, I wouldn't even call it a beating. I have drastically slowed down my investments the last 4 years both because of COVID and because I'm saving cash for something special I want, but I'm planning to get back into regular contributions soon.

epolanski 2y ago

What bad ideas are in the book that could bankrupt your parents? Don't buy stuff you don't really need and invest your money is really not a way to bankrupt.

CommieBobDole 2y ago
'Invest your money' is a great way to go bankrupt, if you choose bad investments.