Review of "How Come That Idiot's Rich and I'm Not?" on 'Goodreads'
1 star
this guy is way too voodoo for me: suggesting you wear a wealth talisman, saying there's a spiritual aspect to wealth, repeating your wealth/commitment affirmation twice a day...
he's got lots of catch phrases and examples to back them up but they don't always make sense (for example: 'fake it till you make it' advocates you ACT and DRESS wealthy to meet the right people but then his real life example is a poor woman who treated herself to tea at the plaza and then fesses-up to the maitre d' - who then gives her champagne and strawberries on the house and it starts a yearly ritual and relationship with (ummmm) - the maitre d'. i doubt that's the 'fake' you wanted to make) he also thinks bringing up donald trump is a going to impress readers - but that guy is an idiot; he'll sell his name anywhere and …
this guy is way too voodoo for me: suggesting you wear a wealth talisman, saying there's a spiritual aspect to wealth, repeating your wealth/commitment affirmation twice a day...
he's got lots of catch phrases and examples to back them up but they don't always make sense (for example: 'fake it till you make it' advocates you ACT and DRESS wealthy to meet the right people but then his real life example is a poor woman who treated herself to tea at the plaza and then fesses-up to the maitre d' - who then gives her champagne and strawberries on the house and it starts a yearly ritual and relationship with (ummmm) - the maitre d'. i doubt that's the 'fake' you wanted to make) he also thinks bringing up donald trump is a going to impress readers - but that guy is an idiot; he'll sell his name anywhere and for any price. that is not financial credibility.
this shemin has made a lot of money thru real estate - but i doubt his ethics. at some point he even brags about signing 65 people from one of his seminars to (what amounts to) a pyramid scheme... but he only signed himself up once he had those names, and puts his name first. (he got a cheque for 8K for delivering those names) and his math is lacking - he brags that a woman 'made' $500K when she sold a $750K house for $1250K, but that doesn't take into account the larger mortage payments she had to make for 4 years, the higher property tax, and the higher upkeep the property needed (vs the 200K house she would have bought). oh, and he never mentions the risk of carrying such a large mortgage.
of course i wait to google him until after i read the book and see there are lots of complaints against him. ultimately, things worked out for him (and other 'from-nothings' like him) because he had nothing to lose and lots to gain. ie: low risk, high payoff. works well if you start as a highschool dropout with an empty bank account.