OLD Media Moves

Pat Robertson: The next personal finance guru

May 28, 2009

Jonathan Berr writes on Daily Finance about how evangelist Pat Robertson is now pushing himself as a personal finance expert.

Berr writes, “In an interview with Time magazine, amidst the discussion about 401(k)s and budgeting, the one-time Republican presidential candidate made the following statement:

“‘Well, actually I manage a couple of stock portfolios or funds or whatever you want to call ’em, and I think I’ve done relatively well with them,’ the magazine quotes him as saying. ‘My broker says I’m in the top 1 percent of fund managers with the results I’ve been having.’

“Top one percent? Really? The question that Time should have asked Robertson but didn’t was how he achieved such miraculous results. Was it stocks? Bonds? Commodities? Divine intervention? I personally have no idea (although it is a little weird that someone who ‘manages’ his own portfolio and generates returns that would make Warren Buffett drool needs a broker).

“Robertson’s television network, CBN, offers plenty of financial advice. Robertson says he wrote Right on the Money: Financial Advice for Tough Times because he offers money management advice on his ‘700 Club’ program every Monday. How valuable is the advice is tough to say.”

Read more here.

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