What Schools Will Never Teach You About Money By Robert T. Kiyosaki

FAQ 
Which asset class is best for me?
Short Answer 
The ones you are interested in. 
Assets
BALANCE SHEET
Liabilities
Income
Expenses
Control
Control
Control
Control
INCOME STATEMENT

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Chapter Four
Unfair Advantage
151
150
There are some horrible and stupid financial advisors in the real world. 
But if you do not know good advice from bad, any advice will do.
FAQ
 
How does a person make money and reduce risk in paper assets?
Short Answer 
Start at the shallow end of the pool. Take classes and practice, aka 
paper trading.
Explanation
In the world of investing, there are always professionals and amateurs. 
The stock market is a great place for professionals because there are so 
many amateurs who are forced to be in the deep end of the pool where 
the sharks wait.
I am not good at paper assets, so it’s best I defer to Andy again and let 
him explain the world from his point of view. He is great at investing 
in paper assets and is a great teacher. 
Andy Tanner explains:
When it comes to paper assets, I’d say the biggest differences between 
amateur investors and professional investors are:
a) how they seek to generate income, and b) how they manage risk. The 
easier of the two discussions is their approach to managing risk. 
In real estate, the battle cry is usually “location, location, location.” It 
seems that in paper assets the battle cry is “diversification, diversification, 
diversification.” In my opinion, in both real estate and paper, the battle 
cry should be “cash flow, cash flow, cash flow.”
Less-sophisticated investors seem more likely to turn to managing 
risk by what they have been sold as diversification. This brand of 
diversification is a hope that the winners will outnumber losers at a 
pace that will achieve financial objectives, outpace inflation, and not 
be hurt by possible changes in the tax law. But professionals will often 
seek to manage risk by purchasing contracts. While these contracts cost 
This does not mean paper assets are a bad investment. Paper assets 
make a few people very rich. Paper assets have also lost trillions for 
unsophisticated investors forced into the stock market by government 
laws, laws which created pension plans such as the 401(k) in America.