Sensible words from an insensible guy?

[PoGOOD]

A guy I don't particularly respect and do not like at all - certain Mr Grant Cardone - sent me today a newsletter with the following advise:

8 Common Money Mistakes
#1 Settling. Thinking you have enough when you don’t
#2 Diversification. Benefits Wall Street, not you.
#3 Depending on one income flow. Dangerous.
#4 Comparing yourself to others. Brings false confidence.
#5 Investing in trends. Fastest way to go broke.
#6 Trusting without proof. Show me, don’t tell me.
#7 Saving just to save. Government devalues your currency.
#8 Pretender spender. You’re not a baller just because you have a Lambo.

As much as I am not a fan of him and his businesses (a guru extraordinaire in my eyes) this set looks pretty reasonable and sensible.

What do you think about it?

Is he changing camp to TMF ?

 

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[SEBASTlAN]

What's wrong with GC?

 

[BellaPippin]

Just because you don’t agree with someone doesn’t mean EVERYTHING they say is always wrong

AKA Ad Hominem argument (“it’s not valid because it came from GC”)

That said I don’t like him either. I think MJ should make those overly shopped GC GV and Tai parody quotes like that like in Black and White looking badass and saying something like

W A T E R
I S
THE
E S S E N C E
O F
W E T N E S S

 

[FierceRacoon]

There is no such thing as a "money mistake". This kind of wording is a manipulative technique meant to make you doubt yourself and listen to the guru.

#2 and #3 contradict each other.
The rest are just too vague to be useful. Surely, the guy is saying some good things, as does e.g. Anthony Robbins or John Maxwell, but the same ideas are better presented in MJ's and Brian Tracy's books, respectively, with much less fluff.

Long ago Ron Hubbard stumbled upon that technique. Tell people things that seem to be true: "Do you sometimes have thoughts that should not be shared with anyone? Have you sometimes thought that there is more to this life than the material world?" etc.etc. Questions to which any sensible human can respond in the affirmative. That doesn't mean the guru knows anything of value. Similarly, "Saving just to save" (#7) is a very catchy angle, also successfully exploited by the Rich dad -— Poor dad guru. Everyone starts thinking, "wait a second, I am saving. Am I saving just to save? Am I wrong?" — and a seed of doubt is planted.

Read the books if you like, but don't confuse the good feeling you get after reading with actual results. Reading books is meant to be pleasurable, because you are the consumer paying for the entertainment. On the contrary, you want people to be paying you, whether as an entrepreneur, specialist in some field, performer, etc. Therefore, they have to get the good feelings. Much of the nonfiction floating out there, particularly on business, leadership, personal finance, self-development, popular psychology, much of it is not that great. It is written by people who have found their own fastlane — good luck to them — and have created items of entertainment. Those should not be confused with actionable information that actually helps you get ahead in the real world.

Consider this, when Mr Cardone was building his fortune, what was he focusing on? Correct, on learning how to close more sales. How to make more money. Forget this stuff about investing unless you are a professional investor; MJ has driven this point home. If you have a $50K/year job and $20K in savings, it doesn't matter how you invest. If you want more money, figure out how to make it, or forget about it and enjoy other aspects of life.

 

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