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Rich Dad, Poor dad..now a bankrupt dad!!
Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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Lost $24M in judgement..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Elder Joined: 5/24/2007 Posts: 1,805
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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It seems strategic though!!!! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Sasa whom do we trust to give us financial advice? If such authors can go Bankrupt then sijui nifanyee!!! Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 7/11/2012 Posts: 5,222
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Impunity wrote:Sasa whom do we trust to give us financial advice?
If such authors can go Bankrupt then sijui nifanyee!!! Bibilia
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Rank: Veteran Joined: 11/14/2006 Posts: 1,311
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Robert Kiyosaki is not brankrupt, a company Rich Dad in which he's co-owner is. Robert Kiyosaki has more than $50 million in his bank account not counting his assets and Learning Annex can't touch that.
- Bernard Ology , Kampala, Uganda, 11/10/2012 09:34
I don't think he's poor. The bankruptcy thing is just a way to avoid paying. Kiyosaki knows how to shield assets and minimize liabilities by using corporations (they're in his books).
- Jeron Perombchang , HK, Hong Kong, 11/10/2012 09:33
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Rank: Elder Joined: 10/9/2008 Posts: 5,389
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Impunity wrote:Sasa whom do we trust to give us financial advice?
If such authors can go Bankrupt then sijui nifanyee!!! Filing for bankruptcy is a clever way to shield his assets. It's one of the tricks the rich employ as detailed in his book. He's just following his book's advice to the letter.
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Selective reading. You forgot to read the bold part. The financial guru behind New York Times bestseller Rich Dad, Poor Dad has filed for bankruptcy on one of his companies after losing a $24 million judgement.
BBI will solve it :)
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Rank: Member Joined: 7/17/2011 Posts: 627 Location: Mbui-Nzau, Kikumbulyu
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He is the American modern day "mganga kutoka tanga" ..anatibu umaskini ..shida za kiroho, kisonono na nguvu za uzazi ..muhaaaaaaaahhaha a :) \0/ kinyozi hajinyoi..mganga haji gangui. salaaala.  
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Mukiri wrote:Impunity wrote:Sasa whom do we trust to give us financial advice?
If such authors can go Bankrupt then sijui nifanyee!!! Bibilia ...tried and tested possunt quia posse videntur
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Rank: Elder Joined: 4/22/2009 Posts: 2,863
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Will wait for it tomorrow. IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
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Rank: Member Joined: 2/20/2009 Posts: 658
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These guys are not the philip M01 type who file for bankrupcy bila mpango.
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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The story in the Business Daily on Russel Wasendorf was a fascinating read. Ooh the wiles of money so entrapping; like a beer bottle to an alcoholic or a seductive woman to a permissive man... http://www.reuters.com/article/...ne-idUSBRE88N0EJ20120924Quote:A small town Iowa boy, raised in hard times by a widowed mother, starts a business in the back room of a barber shop before setting out to the big city. He strikees it rich and returns years later to local glory, spending lavishly and savouring his role as the big man in a little town.
It's a real story, but as became clear this summer, a dark thread ran through it. For most of the two-decade life of Peregrine Financial Group, a leading independent futures brokerage, founder and chief executive Russell Wasendorf Sr. was taking hundreds of millions of dollars of his customers' money to cover losses and live large.
His dual life came to light after Wasendorf, 64, tried to commit suicide outside his headquarters in July. Authorities discovered a four-page confession letter describing how he used a post-office box, a scanner and basic software to hide his theft for years. The Commodity Futures Trading Commission accused him of making off with more than $200 million of customer money. Last week, he pleaded guilty to mail fraud, lying to regulators and embezzling customer funds, crimes that could put him in jail for 50 years.
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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maka wrote:Mukiri wrote:Impunity wrote:Sasa whom do we trust to give us financial advice?
If such authors can go Bankrupt then sijui nifanyee!!! Bibilia ...tried and tested Tried  Tested?  Thieves
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Rank: Member Joined: 9/19/2010 Posts: 237 Location: Republic of Graham & Doddsville
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Impunity wrote:Sasa whom do we trust to give us financial advice?
If such authors can go Bankrupt then sijui nifanyee!!! Do as they say but not as they do... or, better yet always think independently. We Will Either Find a Way or Create One - HANNIBAL
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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As @ Juggernaut says,filing for bankruptcy is one way to keep off creditors from liquidating a company which is in some temporal financial distress.Under the protection cover of bankruptcy,the company can re-organize itself, of course without putting the interest of creditors at risk, and then have the order lifted when the house is in order. "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Member Joined: 2/12/2010 Posts: 474 Location: Nairobi
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That guy is still very rich. Only one of his companies went under. Keep it simple
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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richdad wrote:That guy is still very rich. Only one of his companies went under. @richdad, protecting your nemesis!  Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Member Joined: 2/12/2010 Posts: 474 Location: Nairobi
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mnandii wrote:richdad wrote:That guy is still very rich. Only one of his companies went under. @richdad, protecting your nemesis! I wish I was introduced to some of his book while at young age. Not some stupid "Kilio cha haki"... Keep it simple
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Biz ziuchapa kwani. Part of the game.
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Rich Dad, Poor dad..now a bankrupt dad!!
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