Wisdom of Rich Dad

MANHATTAN (CN) – A federal class action claims Rich Dad Education and its affiliates use their “free classes” and $199 seminars about financial success as a come-on in a high-pressure “sales scam” to sell worthless courses for tens of thousands of dollars.
Named plaintiff Robert Crewe says Rich Dad’s “sales scam is built on a misleading three-tiered sales pitch where customers are sold increasingly expensive financial training programs using pressures tactics and false promises.”

Crewe says he paid $199 to attend a “Rich Dad Education Stock Success 3-day Training program, which was supposed to provide training and education in trading stocks.”

But he says, “Defendants did not provide any training or education at the workshop. Instead, the sole purpose of the workshop was to up-sell ‘students’ into additional useless but more-expensive coursework and monitoring, which costs up to $64,899 per enrollee.”

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Investors in corporate bonds haven’t gotten much for their money lately, but new signals suggest that’s all about to change.

After a nearly 12-months tear, companies have been issuing fewer bonds — a sign bond investors are tired of settling for low yields and weak investor protections, say market watchers. In June, issuance of new high yield bonds dropped 68% globally and 66% in the U.S. — a turnaround from May, when global issuance hit an all-time monthly record of $50 billion, according to Thomson Reuters.

Investment-grade bond issuance was down, too — 46% globally and 65% domestically. Ultimately, this could show investors are demanding better deals before snapping up new issues again, says George Young, portfolio manager of the $85 million Villere Balanced fund (VILLX). “You have sort of a standoff right now where investors say that’s not enough of an incentive for me to lend you money.”

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