Q: What’s Your Opinion of Tony Robbins’ new “Money” book



Q: What do you think of Tony Robbins new “Money Master The Game” book?  I was a little surprised his recommendations included gold and commodities. 

A: As with most investment books there is a lot to recommend and a lot that will likely get investors in trouble. Without creating long lists of both, I will simply say his motivational info is good but a lot of his investment recommendations are inappropriate. The back testing of his recommended portfolio is a great example of data mining, of which his recommendations of gold and commodities are great examples.  

As I have said in recent articles and podcasts, “It’s all about performance.” Of course it’s also “all about risk.”  I don’t think the risk-adjusted return of his recommended portfolio will be as productive in the futureas many other well tested portfolios.