Comments by "Magic Beans" (@Magic_beans_) on "Investment Analyst Reacts to Finance TikToks - Part 7" video.

He was kind of a shady character from the start. Rich Dad himself appears to be fiction, and there’s a bit where Kiyosaki straight-up says to make friends with high-ranking businesspeople and see if they can throw you some insider information. Kiyosaki claims it’s not insider trading because you’re not the insider, but Martha Stewart’s conviction says otherwise. She benefitted third-hand — an insider (who, granted, was also a friend of Stewart) told his broker to sell a bunch of shares. The broker called Stewart and suggested she sell. If that’s close enough to count as a felony, outright asking your golf buddy for insider tips definitely does.
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@lucagerio Nice catch. So yeah, we have no reason to believe she’s doing better than random chance. She could even be losing money, we don’t know.
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@JRRob3wn In Rich Dad he straight-up advises making successful friends and asking them for insider information. For reference, Martha Stewart went to prison for using third-hand insider information. The ImClone insider and her used the same broker, and the broker said “Hey this guy’s selling, maybe you should too.”
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6:29 She’s kind of telling on herself here because her number one pick is up 245%. Nice, but not nearly enough to go from a few hundred dollars to millions. So either she’s been doing rapid-fire trading with her one hour a week and gotten extremely lucky, or she’s conflating deposits with gains.
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This is the same guy who said you can’t live on a paltry $400,000 per year. Bro’s completely detached from reality.
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