Robert Kiyosaki Reveals His Current Investing Strategy
06/09/08 - 09:23 AM EDT
Joanna Ossinger
In fact, it might be pretty hard for him to lose money on the oil trade. He says he was in oil in the late 1990s, when crude was around $10 a barrel and most investors were wrapped up in the dot-com bubble.
He says his break-even point on oil is $60 a barrel. However, he doesn't think oil is in a bubble yet, and among recent predictions, leans more toward the side that crude will head for $200, as opposed to retreating back closer to $50. Kiyosaki is venturing further into the commodities business -- he says he is starting a copper-mining company in Vancouver. On the Market "I haven't been this bullish in years," says Kiyosaki. "What a buying opportunity. ... The stock market goes on sale, and everybody runs away." But, he's excited probably only for a short time. "When the market comes back, I go back to sleep," he says. On Apple "I'm an Apple(AAPL Quote - Cramer on AAPL - Stock Picks) fanatic," Kiyosaki confesses. But, he stresses that it isn't because he likes tech per se -- he just likes Steve Jobs. He recalls wistfully that he didn't initially buy the stock when Jobs came back to the company. Since he isn't well-versed in the tech sector, he followed Berkshire Hathaway(BRKA Quote - Cramer on BRKA - Stock Picks) Chairman Warren Buffett's advice: "If you don't understand it, don't invest in it." What's Next In addition to the copper mining venture, Kiyosaki says his efforts are going into the creation of a financial education franchise that spans the globe. "What the world needs now is financial education," he says. "Giving people money isn't going to solve the problem -- the problem is, people just don't know what to do with their money."
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