Good investigative piece on Kevin O’Leary this morning in the Globe’s Report on Business Magazine. Well worth the read. You can see it here. Nice to see some critical reporting behind the O’Leary facade. The article confirms my own experience and impression of Kevin which I have written about a few times over the past couple of years here and here.
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Great article Danielle. I have often wonder what his claim to fame was. I now see he just a huxster
Ralph
Here is a response from O’Leary funds management:
http://www.newswire.ca/en/story/1043405/the-globe-mail-gets-it-wrong-again
Mr O’Leary is the classic example of style over substance, and why you should never blindly believe what you see on TV. It’s called the “boob tube” for good reason.
But on the other hand, O’Leary is fun to watch, which is really, after all, the only reason he is a TV star. If you don’t take what he and most others on TV say seriously, then it’s OK. Remember, TV is for entertainment, and usually not much more than that.
Even shows that ostensively attempt to edify, such as history programs, must be produced like a Hollywood thriller (with eruptions of blood, massive explosions, and lots of sex) or few would watch.
I always loved to watch Ann Medina on History Television try to justify how some movie of the week that has no link to historical reality qualifies as having the moniker “History On Film.” Again, it’s just entertainment––even the news (which is primarily propaganda). If you treat it as such and keep things in perspective, you have a much greater chance of not getting sucked into the Matrix.
About a year ago, the blogger James Altucher drew my attention to the fact that Mr. O’Leary might not have the money he claims to have and may exaggerate his dealings with Apple. I noticed that upon Jobs’ death, he was keen to tell listeners that Jobs was a bully. Even though it might reflect badly on oneself to have been bullied by an individual it also cleverly insinuates you were in their inner circle.
I mostly sold my funds since then.
Culture of delusion
http://www.theburningplatform.com/?p=41363
One of the readers of the G&M called him the “Don Cherry of the investment world”. Exactly.
There’s Only One Way Forward For Europe, And This Isn’t It
http://theautomaticearth.com/Finance/theres-only-one-way-forward-for-europe-and-this-isnt-it.html
Public sector pensions
http://viableopposition.blogspot.ca/2012/09/canadas-public-sector-pensions-ticking.html
C’mon folks!
Kevin is the main attraction and fun to watch in that show.
In rebuttal … “Who are you going to believe, me or your own eyes?” – Groucho Marx.
I read this carefully crafted response as an exercise in subterfuge. Anyone who tracks the O’Leary family of Funds since inception will indeed conclude performance, as the Globe correctly did, as terrible.
And why would ANYONE celebrate return of capital – giving back your own money – as a wonderful mode of tax advantaged income? Except of course by being cheeky and to add that this is standard procedure so it makes it OK.
Go ahead. Buy the funds. I’ll stick to my guns and gladly announce to all that as a cautious investor who is a DIY I have done WAY better than O’Leary since 2008.
The American Dream
http://www.theburningplatform.com/?p=41445
I actually can’t tolerate this guy. He is so rude and obnoxious on that show dragons’ den that I have only seen once or twice. That show is also set up and scripted it’s not worth watching. Many of the so called deals they do get rescinded after they do their so called due diligence.
Kevin reminds me of a “loud mouth schnook”!
For an alternative view see this link http://www.vancouversun.com/sports/public+sector+pension+funds+remain+healthy/5999485/story.html