Posts filed under “Consumer Spending”
Tony Robbins is out promoting his new book, MONEY Master the Game: 7 Simple Steps to Financial Freedom. Based on who he interviews, I plan on giving it a read over the next holiday break.
However, I was a little disappointed in this WSJ video interview with Tony Robbins, dated WSJ 11/19/2014 6:03PM. Within the 60 seconds, Robbins says “I never told people to take money out of the market, that’s totally not true.”
Robbins does two things in this interview that surprise and disappoint: First, he ignores the criticism of his advice in 2010 — not 2009, but 2010 — deftly turning away from criticism about 2010. (No one brought up 2009, I never saw that video and don’t know if this is merely Hindsight bias or something else).
Worse, the discussion as to why the All Weather portfolio (55% bonds, 30% stocks, 15% commodities of which half is gold) is such a backwards looking, form fitted, sample set bias disaster never comes up. (I will address that in greater detail in the future).
However, I find this exchange disturbing. But rather than me making the argument, I suggest the following: Watch the 7 minute WSJ video below, than see Robbins own 25 minute video from 2010. Make your own decision based on what you see and hear.
Tony Robbins Responds to Critics
Source: Tony Robbins
Tony Robbins: “An Important Note of Caution”
Source: Tony Robbins
This is the time of year when Americans gather with family and friends to give thanks. A bounteous feast is the time to express gratitude for our good fortune. We count our blessings, humbled by the fortuity of our circumstances, grateful for whatever it is we have. Once you get that over with, it’s time…Read More
The Effect of Oil Price Declines on Consumer Prices Ben Craig and Sara Millington 11.19.14 Oil prices have declined significantly in recent weeks, reaching levels not seen in several years. At the same time, the year-over-year percent change in the most widely known measure of inflation, the Consumer Price Index (CPI), came…Read More
On this day 56 years ago, the U.S. economy began to undergo a momentous change. It was Oct. 1, 1958, and the company known best for its Travelers Cheques introduced a new product: The charge card. Although American Express technically wasn’t the first company to introduce a charge card, it was the first to make…Read More
The Standard & Poor’s 500 Index closed yesterday at a record high of more than 2,000. Yet many people feel that the economy is weak. There are numerous reasons for this, but the one I want to focus on has to do with employment and wages. The economy feels weak because, depending on your education,…Read More