Van K. Tharp - dropped off the radar?

Discussion in 'Psychology' started by billpritjr, Sep 23, 2006.

  1. Seems like you don't hear about him much anymore. I see he is publishing a 2nd edition to Trade your Way to Financial Freedom.

    Did he drop off the radar or what?

    Now that Seykota has his own forum, Covel has his own book, etc, I have not seen much of Tharp.
     
  2. Toonces

    Toonces

    I'm not sure what to think about Mr Tharp. He did some seminars a few years back with a couple of infomercial guys (Robert Kiyosaki and John Burley)...they seem pretty shady to me. Kiyosaki, well who knows what this guy's saying, if anything?

    And Burley, a real estate 'guru', comes up with a sketchy solution to being able to own several houses, getting paid monthly by the people who live there, without having to deal with the problem of tenants. He suggests that if you make enough calls in your town you can find people willing to sell their homes for 60 cents on the dollar. Then you buy the house and later sell the same house at 90 cents on the dollar. But when the prospective buyer asks how much the house costs, you don't give them the price. You say 'It's $750 a month'. (Sounds like something you would say to a prospective tenant, not a buyer.)

    So you buy the house and make payments to the previous owner based on 60% of what the current market should dictate. The guy you sold the house to pays you payments based on 90% of what the market should dictate. Your profit is the difference between the 60% and the 90%. Sounds good on paper, but it just doesn't sound legal, ethical or even practical to me. To first take advantage of someone in dire straits (I even wonder if it's possible to get deals at such huge discounts these days.) And second, to sell that house to an owner who doesn't know ultimately what he's paying for it.

    Tharp also lost quite a bit in a some scandal a few years back. See the posts by his son rtharp.

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=8933&highlight=tharp
     
  3. vin tharps son rtharp vanished too. He was a very active member on Et many moons ago acted like he new everything at only 18 yrs old. now he iz gone. did he blew up?

    bp
     
  4. I think his Trade Your Way book is great, but the fact he got taken in so easily and thoroughly by that scammer makes you wonder...
     



  5. By the way, are you able to reach Seykota site?

    I'm not, from two days ago.
     
  6. nope....same here
     
    #10     Sep 24, 2006