The author of the book about In personal finance, «Rich Dad, Poor Dad» Robert Kiyosaki criticized the traditional investment portfolio of the American bank Morgan Stanley, urging investors to focus on bitcoin, ether and a number of other assets. Kiyosaki called the traditional 60/40 portfolio consisting of stocks and bonds dead. This ratio died back in 1971, when the 37th President of the United States, Richard Nixon, abolished the gold standard, stopping the conversion of dollars into gold, the investor writer explained his position. Kiyosaki is ironic: for years, financial companies have touted the 60/40 ratio as if it were a magic magic carpet that could lead to financial security after retirement.
Now, Morgan Stanley has changed the 60/40 formula to 60/20/20, where 20% is invested in bonds and 20% is invested in gold. Kiyosaki has supported these changes, stating that gold is preferable to stocks and bonds.
«I still prefer gold and silver coins, Bitcoin, Ethereum, rental income from real estate, and income from oil wells and cattle. I retired financially free more than 30 years ago. Therefore, I did not need the 60/40 magic wand… 60% stocks and 40% bonds,» Kiyosaki wrote on social media.
He insists that stocks and bonds cannot guarantee financial security. According to Kiyosaki, the US dollar is a «debt note of a bankrupt US government» controlled by the «Marxist Federal Reserve System.» The US authorities are the largest debtor in history, the writer insists. In his opinion, it would be a very stupid thing to buy bonds (debt) from a bankrupt country.
Recently, Kiyosaki named two cryptocurrencies that he plans to buy, and also criticized the 95-year—old owner of Berkshire Hathaway, Warren Buffett, for changing his views on investments — he used to support investments in stocks and bonds, but now realized the advantages of precious metals.
