When my book 'Rich Dad's Prophecy' was released in 2002, most financial newspapers and magazines trashed it because I discussed a looming stock market crash.
Sentiment: NEGATIVE
The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future income, and so led them to stop spending as they waited for more information.
I could never gamble on stocks and shares because I saw my father get hurt that way - he lost quite a lot of money when the stock market collapsed in 2001.
I believe my publisher has shown a great deal of faith in me over a lot of years but I'm not prepared to be so arrogant to say that the long-term literary value of my work would compensate them for a financial failure.
After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.
I think the tech stock, the public market is still completely traumatized by the dotcom crash. I think the investors and reporters and analysts and everybody is determined to not get taken advantage of again, and that is what everybody who lived through 2000, what they kind of remember.
My only foray into anything stock-market-related was in my eighth grade social studies class. I have steered clear ever since.
In falling markets, there is nothing that has not happened before. The bear or pessimist sees only the past, which imprisons the wretched financial soul in eternal circles of boom and bust and boom again.
I was about thirteen when I started thinking about the stock market. My dad helped me a little bit. I'd see it in the 'Santa Barbara News-Press.' These prices would change every day - what was that all about?
Whenever I see a stock market explode, six to 12 months later you are in a full blown recovery.
The stock market to me was like a video game. When it went off, it was like turning the game off. It wasn't something I'd think about until I'd turn the machine on again.
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