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Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

The Dangers of Private Equity: A Federal Prosecutor's Perspective

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

The Rich Dad Company

Entrepreneurship, Business, Investing

4.13.9K Ratings

🗓️ 10 May 2023

⏱️ 47 minutes

🧾️ Download transcript

Summary

In this podcast episode, Robert Kiyosaki chats with Brendan Ballau, a federal prosecutor and author of the book "Plunder: Private Equity's Plan to Pillage America." They discuss the negative impact of private equity firms on the economy and society, including short-term thinking, layoffs, and bankruptcies. They also highlight the lack of concern for employees and the environment by these firms, as well as the government's role in supporting them. The hosts encourage listeners to read Greely's book and become educated on the issue, while also emphasizing the importance of entrepreneurship and investing over relying on a 401k or pension.

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Please read carefully.

This is not financial advice.

You may be asking, “what does that mean?”

Let me explain…

Do not just do what I, my team or my guest says. That would be stupid and irresponsible. Take the education, then use your own brain and make your own decisions.

YOU must take responsibility for your future and your success. That is why you are here. Neither I, or my team, or my guests, know your risk levels, prior education, emotional maturity or how much money you can afford to lose.

We are only telling you what we believe to be smart moves. But you must decide for yourself. There are NEVER guarantees.

Also understand that we are REAL teachers. We practice what we preach. With that in mind we often invest in the very projects that may be mentioned on this show. While it is never our intent, we could possibly profit from others investing in our recommendations.

Take the education we provide but then determine your own actions. If it does not make sense to you, get more education before you invest. We will continue to provide education and there will always be more opportunities.

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“net returns” refers to the annualized internal rate of return net of all fees and costs, calculated from the offering closing date to the sale date. IRR may not be indicative of Masterworks paintings not yet sold and past performance is not indicative of future results. See important Reg A disclosures: Masterworks.com/cd Masterworks’ offerings are filed with the SEC, view all past and current offerings here or at SEC.gov.

Transcript

Click on a timestamp to play from that location

0:00.0

This is the Rich Dad Radio Show, the Good News and Bad News About Money.

0:07.0

Here's Robert Kiyosaki.

0:09.0

Hello, hello, Robert Kiyosaki.

0:10.4

The Rich Dad Radio Show, the Good News and Bad News About Money.

0:13.4

So let me start with, so, Ren, you are a federal prosecutor and served a special counsel

0:18.5

for private equity and the Justice Department's antitrust division.

0:22.1

What does that mean?

0:23.1

What do you do?

0:24.8

What do you do?

0:25.8

Thank you so much.

0:26.8

I did for the time and I should say off the bat that I'm speaking in my personal capacity,

0:30.6

not as an employee of the Justice Department.

0:32.6

So they were kind enough to give me leave to write this book, which I was very interested

0:36.0

in on private equity generally.

0:37.5

Oh, thanks.

0:38.5

So, yeah, yeah.

0:40.2

So it might be helpful for me to talk about generally what private equity is, just so

0:45.1

that we sort of have some ground rules.

0:47.8

And I think you sort of alluded to this earlier that it's a term that I think a lot of people

0:53.3

have heard, but very few people really know what it means.

0:56.2

I confess that I didn't know what it was until after I had gotten the book deal.

1:02.2

So the general idea is, you know, private equity firms use a little bit of their own money,

...

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