Rabbit's Report

Reviews and Recommendations of Online Money Making Resources

Rabbit's Report - Reviews and Recommendations of Online Money Making Resources

Ric Edelman Review

Who is Ric Edelman?

Ric Edelman is an author and runs one of the largest independent investment and financial planning firms in America. Ric Edelman has his own Radio Show syndicated by ABC Radio Networks. He has a nationally syndicated newspaper column called “The Truth about Money”. He has authored several books, most recently “The Truth about Money” 2003, and “The Lies about Money” 2007. He is also a contributor to the “Oprah Winfrey Show”.

Is he looking out for you?

There is no doubting Ric Edelman’s credentials he has an impressive resume. He has sold millions of books and his financial planning firm manages close to $2 billion.  Ric Edelman has helped many investors and many more people find a way to get out of debt.  I think he and his firm are an excellent choice with one disclaimer….

There is this mutual fund thing

He flip flopped from supporting the managed mutual fund industry in his audio book “No-Nonsense System for Building Wealth”.  Then in another book “The Lies about Money” Ric Edelman talks about all the problems with the mutual fund industry. You see his firm moved from actively managed mutual funds to institutional funds. The mutual fund industry didn’t just start having these problems. These problems were present when he was recommending them and his firm stood to benefit from discouraging his readers from investments in mutual funds.  This is just something to take into consideration I wouldn’t let it be a deal breaker.  Every business is out to make money that is just the nature of the beast.

Buy and hold isn’t a strategy

Ric Edelman has not been as successful as he is without providing quality advice and service.  He has many good points and his strategies are sound for the most part. However there are some things I  completely disagree with him on. In particular his insistence on “Buy and Hold”. Advisors like Edelman call trend following gambling and see no value in it. Unfortunately they seem to believe that the average investor is not smart enough to make their own decisions.  With the advances in technology, computers and the internet, average investors can get access to the same information as the “big boys” and we can generate returns that are just as good and usually better when we spend a little time researching on our own. There are many programs, systems, newsletters and other services that can help investors make good sound investments without paying some multi-billion dollar firm to manage it for them.

Be diligent and use your own filter

Check out this Free Trading Course, it’s one of the best I’ve found out there.

Edelman makes some great points about the financial press that can easily apply to himself: “Many in the financial world have their own agendas. They aren’t necessarily trying to give you financial information. What they are trying to do is generate profitability for themselves.”  All that being said Edelman does provide some good sound advice you just need to look at it through the filter of knowing where he is coming from. Even Ric Edelman knows why he was writing his books, at one point he asks: “has this entire program been nothing but a sales pitch?”

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