Sunday, March 1, 2009

More Americans are catching on to the reckless nature of financial advise from guru Dave Ramsey

I haven't seen supposed financial guru Dave Ramsey on the cable TV shows lately.

Perhaps producers have caught on to a growing truth among the American public that the guy doesn't know a damn thing about investing in these financial times.

Here is a reader response I got this evening that says Ramsey also isn't all that smart about paying off debt either:


This the first I've seen of your blog and I am impressed with your cogent comments about Ramsey.

The guy is only good at selling books. He clearly does not want to educate the lemmings that follow him.

Just consider how he tells them to snowball by paying the smallest instead of the highest APR debt. He could at least explain to them the math behind why paying the highest APR debt is the path that saves the most money.

But that would require him to have an IQ over 90.

Keep up the good work!

Indeed, if Ramsey has been following his own financial advice concerning the stock market, then he has lost 36 percent of his holdings since he told NewsChannel 5 viewers in Middle Tennessee back in September that it was a good time to get into growth mutual funds.

Then, the Dow was trading at 10,600.

Now it is at 7,062.

From his hyped-up history, Dave Ramsey lost all his money once. Perhaps it will happen to him again. That's fine, as long as he doesn't cause his listeners and viewers to lose it all, too.

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