'Rich Dad Poor Dad' Author Robert Kiyosaki Flashes Fresh Warning About 401ks And IRAs Going Up In Smoke: 'The S&P Is Next'
Portfolio Pulse from Shanthi Rexaline
Robert Kiyosaki, author of 'Rich Dad Poor Dad,' has issued a warning about the potential collapse of the S&P 500, which could impact millions of 401ks and IRAs. He has a history of predicting financial crises, including the 2008 Financial Crisis and the fall of Lehman Brothers and Credit Suisse. Despite the S&P 500's recent gains, Kiyosaki suggests that a stock market crash could be imminent, which would be detrimental to public funds invested in ETFs like the SPDR S&P 500 ETF Trust (SPY).
December 11, 2023 | 8:00 am
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NEGATIVE IMPACT
Robert Kiyosaki warns of a potential S&P 500 crash, which could negatively affect the SPDR S&P 500 ETF Trust (SPY) as it tracks the index.
Kiyosaki's warning about the S&P 500 could lead to increased market volatility and potential declines in the SPY ETF, which directly tracks the performance of the index. His track record of predictions and the influence he has on his followers might contribute to a self-fulfilling prophecy, as investors could react to his warning by selling off their holdings. However, the confidence score is moderated due to the unpredictable nature of market movements and the current positive performance of the S&P 500.
CONFIDENCE 60
IMPORTANCE 80
RELEVANCE 90