America has discovered a new financial guru. Tony Robbins’ new book on investing, MONEY Master the Game: 7 Simple Steps to Financial Freedom, has shot to the top of Amazon’s bestseller list.
Mr. Robbins, who has been nicknamed the “mahatma of motivation,” excels at self-promotion. The publication of his book has generated immense publicity, including a particularly fawning interview with financial pundit James Altucher. Mr. Altucher and his wife posed for a photograph with an ebullient Mr. Robbins on the beach at Mr. Robbins’ home in Florida.
Based upon pre-publication reports, it was my understanding Mr. Robbins’ book exposed the conflicts of interest that brokers and insurance companies have with their clients. He also reportedly advocated that a fiduciary standard should be applied to everyone who provides investment advice. I support these views and endorsed them in a blog I authored. I expressed skepticism, however, about the lack of scientific support for some of Mr. Robbins’ self-help theories.
Read the rest of the article at The Huffington Post.