Suze Orman's CNBC Interview

[the observer]

Her new book for women... YAWN!

Full of clichés and one liners... but best of all,

She says if a financial planner won't commit to making 5% more than a CD, "what the heck are you using him for?"

Now, when I learned this business many years ago, I was taught if you start "promising performance", you can be held liable and violate a number of regulations.

Oh, and no mention of the CFP® Certification she has. When asked what one should look for in a financial planner she said three things;

1. how long have you been in the business (If not 10-15 years, forget it)

2. How do you get paid

3. How much are you going to make me? (which led to the 5% more than a CD comment)

Fascinating from a person who doesn't practice. The CFP Board's web site lists her as "This CFP® certificant indicated to the CFP Board that he/she is NOT a practicing financial planner."

I guess she's out of practice?!

[Zek, The Grand Nagus]

Send the CFP Board a copy of her interview, and see if they will discipline her.

She needs some good discipline.

Ron

[PCR]

If a planner 'won't commit' to make 5% more than a CD....

She actually said that? That is one of the scariest/dumbest things I've ever heard from anyone's mouth. It's right up there with "I have a million in the stock market because I don't care if I lose it", or whatever the heck she said.


I often find her comments laughable. Then again, I find Cramer to be laughable, too. But Suze and Cramer are two of the biggest personalities on financial TV. Just another sign that the apocalypse if nearing.

PCR

[winterqqqq]

> She says if a financial planner won't commit to making 5% more
> than a CD, "what the heck are you using him for?"
>

I know that this has become radical thinking but maybe you go to a financial planner for *planning* - not just for investment advice or to have a registered rep pick out something for you to do with a chunk of cash. Even if the financial person had a track record of 20% returns over time that may just mean that they are a good stock or fund picker. We cannot turn that around and say that because this person beats CD's that they therefore are good estate planners, for example. There is more to retirement, estate, and other asset planning than just returns on investments.
Just maybe anyway.

Dennis

[Lucullus]

AMEN, Dennis!

Suze's statement merely confirms (for those who needed such confirmation) that Suze Orman really isn't all that knowledgable about financial planning.

Her statement reveals that she not only cannot (or will not) distinguish between PLANNING and PORTFOLIO MANAGEMENT, but also that she believes that EVERYONE is somehow ENTITLED to an overall investment return of CD rates plus 5%.

As a source of sound advice, Ms. Orman is probably no less reliable than any other racetrack tout.

John Olsen

[finplanning]

PCR,

" I often find her ( Suze ) comments laughable. Then again, I find Cramer to be laughable, too. "

I agree 100%, but who is the most laughable?
Now that is a hard one.


Jamie

[Geetch]

The only people who are laughing are Suzy and Cramer, all the way to the bank.

[Zek, The Grand Nagus]

Cramer is an insult to the industry. All wind and no scrote.

Ron

[BillWinterberg]

Suze's interview on CNBC:

http://www.cnbc.com/id/15840232?video=190598016

[winterqqqq]

You know we kid around about her but if you listen to that interview it is is just astounding as to how truly repugnant she is. In regard to the lesbian virgin thing, I could care less who she is sleeping with as long as it is not me -but jeeeez just how passive aggressive hostile toward men can you get.

She launches into this rap about how when women make money they always spend it on children, spouse and others but "men no not do that" Rather they spend it on themselves. What a hostile, ignorant affront to the millions of men in this generation and before who worked 12 hours a day to feed the family and provide them with as good a life as possible all while living in total fear of the pink slip. If they/we were not working to provide funds for the family you certainly could have fooled us. She is the mirror image of a sexist man who tells a woman who has raised three kids and taken care of elderly parents that she has never worked simply because she has never drawn a paycheck.

If she is gay and wants acceptance of her arangement maybe that is fine in a live and let live world but what's with the hostile assault on traditional family values and belittling the contribution of men to family support and caring.

Perhaps she has never met a good man. There are reasons for that that are apparent to most. With friends like her, who needs enemas.

Left wing media.

Dennis

[finplanning]

Dennis,

You are 100% right. She is just a man hater. Saying men do not spend money on the wife, kids and others is beyond foolish.


Jamie

[the observer]

As a result of this latest piece of idiocy, I've added an additional question to my screening and vetting process for new clients... Have you ever or will you ever watch any show on which Suze Orman is interviewed or expresses an opinion?

If No proceed to the next question, if Yes, stop here, I don't want you as a client.

I'm not going to argue with people who listen to her like some demi God just because she has a "show"

[dan]

Cramer is definitely much worse than Suze. Cramer has not helped a single person, but he has probably caused financial hardship to thousands (I personally know of at least a few).

Suze is a blowhard with questionable competence in the dispensation of advice on many issues, but her general advice is very helpful to lower and middle class people. Basically, pay off credit cards, don't take on new consumer debt, and save money in qualified plans, all while avoiding high commission financial products. This is helpful advice to MILLIONS of people in this country.

Of course, her delivery is awful and she paints everything with too broad a brush...but she's several notches above Cramer in my book.

[NickSpags]

Actually I've heard Cramer say many times that people should use Financial Advisors. He does not profess to offer planning advice only stock picks. He's a nut but I think Orman is far more dangerous as she holds herself out as a planner.