Rate Your Finance Titans/Guru's

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CodeName47

So I'm a bit late to this thread and don't know 95% of the names, but I keep hearing Dave Ramsey worshiped as a god on mrlandlord.com. Some of the pros there swear by his no-debt method to real estate investing. Anyone explain??

rufflesinc said:   So I'm a bit late to this thread and don't know 95% of the names, but I keep hearing Dave Ramsey worshiped as a god on mrlandlord.com. Some of the pros there swear by his no-debt method to real estate investing. Anyone explain??

Those that are saying that are financially retarded?

I'm at a loss for any other explanation.

For those who saw the Bass video, who can explain what jump risk is? Hayman Capital apparently bought OTC derivatives on Japanese interest rates that pay off if rates plummet quickly. He spoke about it like the bet wasn't tied tie the absolute level of rates, like buying way out of the money puts on rates. And the bank sold it cheap because their risk model basically said it was free money.

TravelerMSY said:   For those who saw the Bass video, who can explain what jump risk is? Hayman Capital apparently bought OTC derivatives on Japanese interest rates that pay off if rates plummet quickly. He spoke about it like the bet wasn't tied tie the absolute level of rates, like buying way out of the money puts on rates. And the bank sold it cheap because their risk model basically said it was free money.

He has made it clear in numerous presentations that he wont explain precisely what instruments he's using. He has on one occasion described a little bit more about the moving parts of his position before, but he wont specifically say it.

My guess is he is referring to the JGB swaptions market.

I'm also fairly confident that the bank in question is a Japanese bank especially given the fact that Hugh Hendry was astonished at how cheap of CDS he could get last year on Japanese corporations. Also one report just went ahead and guessed that he was referring to a Japanese institution which is saying a lot.

If that is the case it might be possible to put on short positions or puts against Japanese banks as a way for a retail investor to get exposure.

Wesley Snipes, always bet on black. 11

mattun said:   Wesley Snipes, always bet on black. 11

Just don't use him for tax advice... only gambling

dshibb said:   TravelerMSY said:   For those who saw the Bass video, who can explain what jump risk is? Hayman Capital apparently bought OTC derivatives on Japanese interest rates that pay off if rates plummet quickly. He spoke about it like the bet wasn't tied tie the absolute level of rates, like buying way out of the money puts on rates. And the bank sold it cheap because their risk model basically said it was free money.

He has made it clear in numerous presentations that he wont explain precisely what instruments he's using. He has on one occasion described a little bit more about the moving parts of his position before, but he wont specifically say it.

My guess is he is referring to the JGB swaptions market.

I'm also fairly confident that the bank in question is a Japanese bank especially given the fact that Hugh Hendry was astonished at how cheap of CDS he could get last year on Japanese corporations. Also one report just went ahead and guessed that he was referring to a Japanese institution which is saying a lot.

If that is the case it might be possible to put on short positions or puts against Japanese banks as a way for a retail investor to get exposure.


I can't imagine him having this trade at a Japanese counterparty. Aren't they going to blow up along with the JGB's?

TravelerMSY said:   dshibb said:   TravelerMSY said:   For those who saw the Bass video, who can explain what jump risk is? Hayman Capital apparently bought OTC derivatives on Japanese interest rates that pay off if rates plummet quickly. He spoke about it like the bet wasn't tied tie the absolute level of rates, like buying way out of the money puts on rates. And the bank sold it cheap because their risk model basically said it was free money.

He has made it clear in numerous presentations that he wont explain precisely what instruments he's using. He has on one occasion described a little bit more about the moving parts of his position before, but he wont specifically say it.

My guess is he is referring to the JGB swaptions market.

I'm also fairly confident that the bank in question is a Japanese bank especially given the fact that Hugh Hendry was astonished at how cheap of CDS he could get last year on Japanese corporations. Also one report just went ahead and guessed that he was referring to a Japanese institution which is saying a lot.

If that is the case it might be possible to put on short positions or puts against Japanese banks as a way for a retail investor to get exposure.


I can't imagine him having this trade at a Japanese counterparty. Aren't they going to blow up along with the JGB's?


Good point actually! There could be more to it than that and he could have hedged out a specific bank of that was the case.

John Bogle is a pioneer who has done more to enable and create value for the individual investor than maybe anyone else in history. He's an 11. Conversely, Kiyosaki is a fraud and snake oil salesman. Not sure how you gave him a 10.

Certain FWF Memmbers - 10 (wow people really miss out myself included for the longest time)
John Bogle 10 - legend
Clark Howard 5 - Yeah not 100% super awesome advice, but some good cheap ideas especially regarding travel & my favorite is he is not constantly pimping his stuff trying to get rich like Dave. Clark admits mistakes, faults, invites other opinions, seems like the nicest guy I've ever heard on the radio etc.
Dave Ramsey 1 - Good advice for people who literally know no better (a lot people), but his massive charlatan douchebaggery is unbearable (hey Dave fluking in to a radio slot claiming to be a wiz to people who don't have to pot to piss in isn't really as successful a business as manufacturing widgets/inventing something etc)

ben112079 said:   John Bogle is a pioneer who has done more to enable and create value for the individual investor than maybe anyone else in history. He's an 11. Conversely, Kiyosaki is a fraud and snake oil salesman. Not sure how you gave him a 10.

*Negative 10.*

CokeSlurpee711 said:   Certain FWF Memmbers - 10 (wow people really miss out myself included for the longest time)
John Bogle 10 - legend
Clark Howard 5 - Yeah not 100% super awesome advice, but some good cheap ideas especially regarding travel & my favorite is he is not constantly pimping his stuff trying to get rich like Dave. Clark admits mistakes, faults, invites other opinions, seems like the nicest guy I've ever heard on the radio etc.
Dave Ramsey 1 - Good advice for people who literally know no better (a lot people), but his massive charlatan douchebaggery is unbearable (hey Dave fluking in to a radio slot claiming to be a wiz to people who don't have to pot to piss in isn't really as successful a business as manufacturing widgets/inventing something etc)


As much as I dislike Dave Ramsey and similar "radio gurus" (except the basic message: stay out of debt, etc.), I have to admit that I would probably give the same advices if approached by complete stranger (radio listener).
Let's say, DR "method" of paying debt "from smallest to largest". Obviously, it's how I would do it (from higher % to lowest), but I've never been in debt and I have no idea what's happening in the mind of a person who is not able to add 2 and 2 together and have to call a radio to figure out how his or her bills should be paid. I guess, you would just give them the most simplistic plan that they can memorize and comprehend.
Or, if asked whether someone should borrow / lend money from a relative. Personally, we've done it successfully many times in our family even buying real estate, etc., but I know my situation and I am not interested in anybody's opinion about this subject. Contrary, if person has to call a radio to get "approval" on that - this deal is almost guaranteed to go bad for one or another reason.

The only plain stupid advice I heard from DR was about using debit cards. I can totally get that if you are such a deadbeat and not able to pay your credit card every month, then you should just stick with cash. But debit cards - nope - bad idea for many obvious reasons.

His relevant advice is for hard-luck cases who got in over their heads with debt and need tough-love to get out of it, hence the debit cards and cash envelope systems for bills. Everyone else, it seems, just calls in to brag about their financial success. He was almost a religion when I lived in Nashville. Everyone there just worships him. You would see people pulling money out of envelopes at the grocery store, restaurants, etc. to pay for stuff DR style.

The bigger such a list, the lower value it has.

Already the list is so big, that it is of little value.

ChumChurum said:   The bigger such a list, the lower value it has.

Already the list is so big, that it is of little value.


Hence the ratings!

I'm going to drop a power point presentation here that Jim Chanos recently made on China. I'm picking this one over a lot of his other interviews because this thing actually has some more detailed info in here(albeit in nondescript format because it's a power point) than he usually ends up giving in his major interviews.

I'm also throwing this out there because I've seen a few people looking at things like steel as an investment play and they don't realize that a play on steel really requires about 80% of your attention on China property markets and 20% of your attention on the companies themselves because that is where most of the world's steel is bought(for now).

Chanos Wine Country Powerpoint

I'll include a recent interview as well: Chanos Interview



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