Purchasing power is the number of goods/services that can be purchased with a unit of currency. For example, if you had taken one dollar to a store in the 1950s, you would have been able to buy a greater number of items than you would today, indicating that you would have had a greater purchasing power in the 1950s. Currency can be either a commodity money, like gold or silver, or fiat currency, or free-floating market-valued currency like US dollars. As Adam Smith noted, having money gives one the ability to "command" others' labor, so purchasing power to some extent is power over other people, to the extent that they are willing to trade their labor or goods for money or currency.

If one's monetary income stays the same, but the price level increases, the purchasing power of that income falls. Inflation does not always imply falling purchasing power of one's money income since it may rise faster than the price level. A higher real income means a higher purchasing power since real income refers to the income adjusted for inflation.

For a price index, its value in the base year is usually normalized to a value of 100. The purchasing power of a unit of currency, say a dollar, in a given year, expressed in dollars of the base year, is 100/P, where P is the price index in that year. So, by definition the purchasing power of a dollar decreases as the price level rises. The purchasing power in today's money of an amount C of money, t years into the future, can be computed with the formula for the present value:

Failed to parse (Missing texvc executable; please see math/README to configure.): C_t = C(1 + i)^{-t}\, = \frac{C}{(1+i)^t} \,

where in this case i is an assumed future annual inflation rate.

See also[link]

• Group purchasing organization
• Purchasing power parity
• Consumer Price Index
• Fair trade
• Free trade
• Group buy
• Collective buying power
• Constant Purchasing Power Accounting
• Oil burden
• Inflation
• Sustainability
• Carrying capacity
• Consumption (economics)
• Consumerism

External links[link]

• MeasuringWorth.com has a [1] with different measures for bringing values in UK Pounds from 1264 to the present and in US Dollars from 1774 up to any year until the present. The Measures of Worth page discusses which would be the most appropriate for different things.
• Purchasing Power Calculator by Fiona Maclachlan, The Wolfram Demonstrations Project.

This economics-related article is a stub. You can help Wikipedia by expanding it. v t e

Marc Faber, born February 28, 1946,^[1] is a Swiss investor.

Background[link]

Faber was born in Zürich and schooled in Geneva, Switzerland,^[1] where he raced for the Swiss National Ski Team. He studied Economics at the University of Zurich and, at the age of 24, obtained a Ph.D. degree in Economics magna cum laude.^[2] Faber is best known for the Gloom Boom & Doom Report newsletter and its related web site featuring "Dance of Death" paintings created by Kaspar Meglinger.^[3]

During the 1970s Faber worked for White Weld & Company Limited in New York City, Zürich, and Hong Kong. He moved to Hong Kong in 1973. He was a managing director at Drexel Burnham Lambert Ltd Hong Kong^[4] from the beginning of 1978 until the firm's collapse in 1990. In 1990, he set up his own business, Marc Faber Limited. Faber now resides in Chiangmai, Thailand, though he keeps a small office in Hong Kong.^[5]

Faber has a reputation for being a contrarian investor and has been called "Doctor Doom" for a number of years. He was the subject of a book written by Nury Vittachi in 1998 entitled Doctor Doom - Riding the Millennial Storm - Marc Faber's Path to Profit in the Financial Crisis.^[6][7] Faber has become a frequent speaker in various forums and makes numerous appearances on television around the world including various CNBC and Bloomberg outlets, as well as on internet venues like Jim Puplava's internet radio show.^[8] Dr. Faber's also engaged the Barron's Roundtable^[9] and the Manhattan Mises Circle, lecturing on "Mirror, Mirror on the Wall, When is the Next AIG to Fall?"^[10] Faber is said to be 8'0" tall^[11]

Marc Faber Ltd.[link]

Faber's company, Marc Faber Limited, acts as an investment advisor concentrating on value investments with tremendous upside often based on contrarian investment philosophies. Faber also invests and acts as a fund manager to private wealthy clients. Faber is a regular speaker on the investment circuit, often quoted in the financial press for his non-conformist viewpoint and alternative investment philosophies. His current tag-line is: 'buy a $100 US bond and frame it to teach your children about inflation by watching the US bond value diminish to almost nothing over the next 20 years'^{[citation needed]}

Faber is famous for advising his clients to get out of the stock market one week before the October 1987 crash.^[12][13] However Faber said that this prediction was "accidental".

He lost money shorting US stocks in 1999 although his call was later vindicated. He admits that market timing is very difficult. Nevertheless, his market advice since 2000 is quite accurate. Faber predicted the rise of oil, precious metals, other commodities, emerging markets, and especially China in his book Tomorrow's Gold: Asia's Age of Discovery. He also correctly predicted the slide of the U.S. dollar since 2002^[14] and the 5/06 and 2/07 mini-corrections.^{[citation needed]} He stated that there are few value investments available, except for farmland and real estate in some emerging markets like Russia, Paraguay, and Uruguay.^[9] He believed in early 2007 that a major market correction was "imminent." (Fox News, 2-2007); however, by 5/2007 he was saying that U.S. equities were moderately overvalued — less so than those of emerging markets.

In a June 2008 interview with Bloomberg, he goes over his bearish views on a wide spectrum of investments: stocks, real estate and commodities. He is extremely critical of the Fed's inflationary actions. However, his views for the short-run were almost entirely deflationary except for holding precious metals; Faber still views hyperinflation as a certainty within the next 10 years. He also correctly expressed temporary bullishness for the U.S. dollar in the middle of 2008 before it dramatically recovered and positive expectations for holding the Japanese yen.^[15] In December 2008, Faber said, "I think a recovery will not come in the next couple of years, maybe in five, ten years' time" ^[16] On March 9, 2009, Faber correctly predicted a U.S. stock market bottom but incorrectly stated that the rally would last only six months.^[17]

Writings[link]

Faber writes the monthly investment newsletter The Gloom Boom & Doom Report which is subject to charge. He has also authored several books.

Dr. Faber has been a regular contributor to several leading publications around the world in the past, among them Forbes^[18][19] and International Wealth which is a sister publication of the Financial Times.^[20] He has contributed regularly to several websites such as Financial Intelligence, Asian Bond Portal, Die Welt, Finanzen, Boerse, AME Info, Swiss Radio, Apple Hong Kong and Taiwan, Quamnet, Winners, Wealth and Oriental Daily. He has also written occasionally for the International Herald Tribune, Wall Street Journal, and Borsa e Finanza.^[20]

Faber has been long term bearish about the American economy for a number of years and continues to be so. He concluded his June 2008 newsletter with the following mock quote:

"The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I've been doing my part."^[21]

Funds[link]

Marc Faber serves as director or advisor of a number of investment funds that focus on emerging and frontier markets, including Leopard Capital’s Leopard Cambodia Fund and Leopard Sri Lanka Fund.^[22]

References[link]

External links[link]

• Marc Faber interview on Bloomberg September 2007 before rate cut decision
• Faber's website
• Comprehensive Interview w/ Marc Faber (Bloomberg TV)
• Bloomberg interview
• Financial Sense News Hour Jim Puplava Ask the Experts
• Video of a wide ranging discussion of the US Dollar, credit crunch and emerging markets on CNBC Oct. 22, 2007
• interview with RTL Z 16-03-2010
• Video of a June 2008 Bloomberg News interview critical of Fed chairman and entitled: Marc Faber Says Oil, Stocks, Real Estate Are Overvalued
• Dr. Doom: Short Treasuries, Buy Hard Assets — 29 December 2008 interview
• The Marc Faber Blog

Marc Faber Newsletters of Note[link]

• Investment Hocus Pocus
• A Modern History of Investment Booms
• Marc Faber blog

Robert Toru Kiyosaki (born April 8, 1947) is an American investor, businessman, self-help author, motivational speaker, financial literacy activist, and occasional financial commentator. Kiyosaki is perhaps best known for his Rich Dad Poor Dad series of motivational books and other material published under the Rich Dad brand. He has written over 15 books which have combined sales of over 26 million copies.^[1] Although beginning as a self-publisher, he was subsequently published by Warner Books, a division of Hachette Book Group USA. His new books appear under the Rich Dad Press imprint. Three of his books, Rich Dad Poor Dad, Rich Dad's CASHFLOW Quadrant, and Rich Dad's Guide to Investing, have been on number one on the top 10 best-seller lists simultaneously on The Wall Street Journal, USA Today and the New York Times. Rich Kid Smart Kid was published in 2001, with the intent to help parents teach their children financial concepts. He has created three "Cashflow" board and software games for adults and children and has a series of "Rich Dad" CDs and disks.

As a devout global financial literacy advocate, Kiyosaki has been a staunch proponent of entrepreneurship, business education, investing, and that comprehensive financial literacy concepts should be taught in schools around the world.^[2] Kiyosaki also operates his own blog and maintains a monthly column on Yahoo Finance writing about his latest thoughts on global economics, investing, business, world financial markets, and personal finance.^[3][4]

Life and career[link]

A fourth-generation Japanese American, Kiyosaki was born and raised in Hilo, Hawaii. He is the son of educator Ralph H. Kiyosaki (1919–1991). After graduating from Hilo High School, he attended the U.S. Merchant Marine Academy in New York, graduating with the class of 1969 as a deck officer. He later served in the Marine Corps as a helicopter gunship pilot during the Vietnam War in 1972, where he was awarded the Air Medal.^[5]

Kiyosaki left the Marine Corps in 1975 and got a job selling copy machines for the Xerox Corporation as a salesperson. In 1977, Kiyosaki started a company that brought to market the first nylon and Velcro "surfer" wallets. The company was moderately successful at first but eventually went bankrupt. In the early 1980s, Kiyosaki started a business that licensed T-shirts for Heavy metal rock bands, which was later sold in 1985.^[6]

In 1994, after becoming financially independent through various real estate investments and private business operations, Kiyosaki retired at the age of 47. In 1997, after his short lived retirement, he launched Cashflow Technologies, Inc.^[7] which owns and operates the Rich Dad^[8] and Cashflow^[9] brands.

Personal life[link]

He has been married to wife, Kim, who is an entrepreneur, investor, author, and a motivational speaker. They have been married since 1985. He and Kim have settled in the Scottsdale area in Phoenix, Arizona since 1994. Kiyosaki also has one sister, Emi Kiyosaki, a Tibetan Buddhist nun known by the name Ven. Tenzin Kacho. He has co-authored one book with her called "Rich Brother, Rich Sister".

Business ventures and investments[link]

Aside from operating the Rich Dad Company and Cashflow Technologies, Inc., Kiyosaki continues to operate external business ventures and has continued engaging with various investments since he came out of retirement in 1997.^[10][10]

Mining ventures[link]

Kiyosaki bought a silver mine in South America in 2002, took a gold mining company in China public back in 2002, and took public additional mines from IPOs listed on the Toronto Stock Exchange during the early 2000s. In 2009, Kiyosaki revealed in his book Conspiracy of the Rich that he is currently working on a copper mine that is yet to be taken public once copper prices begin to rise in value.^[11]

Precious metals and coin dealing[link]

Through his teenage years, Kiyosaki dabbled with silver and gold coins as a starting investment during the 1960s. In a July 2005 Yahoo Finance article Kiyosaki states that

If you only have a few dollars, you may want to go to your local coin dealer and buy silver and gold coins as close to the price of gold or silver as possible. I would not invest in 'collectible' precious metal coins unless you really know a good collectible coin from a bad one. For as little as $20 you can buy a few precious metal coins and begin to take steps to prepare for one of the biggest crashes in world history.^[12]

In addition, Kiyosaki states that he is a "gold bug", meaning is that he holds various commodities such as gold and silver to hedge against government misprinting of the U.S. dollar as a fiat currency since the early 1970s when President Richard Nixon took the dollar off the gold standard.^[10]

Real estate acquisitions[link]

Kiyosaki is also an active real estate investor. A large portion of his wealth is concentrated within real estate investing. He has various real estate investments, real estate development ventures, and property management ventures operating around the United States, such as Texas and Oklahoma, particularly in his home state of Arizona, where he lives. Many of his holdings include hotels, golf courses, and large apartment complexes as stated in an interview with The Alex Jones Show back in late 2010.^[13]

Starting with small residential real estate investments back in 1973, Kiyosaki began investing in small condos on the island of Maui, making a small profit from capital gains by the mid 1970's. Kiyosaki starting his own real estate holding company in the 1980s during his tenure with Xerox and continued on with smaller real estate investments after the Savings and loan crisis and the 1986 Tax Reform Act hit the United States in the early 1990s where much foreclosure investment real estate was sold for pennies on the dollar. After progressing with smaller real estate investments, Kiyosaki moved into the commercial real estate business, branching off into semi-large apartment complexes, with a large portion concentrated in Arizona and the Southwestern United States and retired in 1994. Since coming out of retirement in 1997, Kiyosaki still remains involved with the apartment business and stated in an interview with Jason Hartman in 2011 that he owns over 1400 units of apartment houses.^[14][15]

Kiyosaki has been involved with commercial real estate sector such as investing in warehouses, Triple net lease and real estate development ventures around the United States.^[16][17]

Oil wells and natural gas investments[link]

Kiyosaki has stated in a Rich Dad video, several interviews, and a on number of Yahoo Finance articles that he owns oil drilling operations and oil wells around the United States but does not invest in oil company shares such as ExxonMobil or BP.^{[18][19][19][20]}

Solar company[link]

In a 2010 Rich Dad Insiders video, Kiyosaki stated that he also invested in a startup solar company.^[18]

Financial market investments[link]

In his debut book Rich Dad Poor Dad, Kiyosaki mentioned achieving consistent 16% ROI through tax lien certificates.^[21]

Written in a chapter of Rich Dad's Prophecy, Kiyosaki states of having invested in various government tax free bonds such as municipal bonds and municipal mortgage REIT's offered by real estate development companies paying over 12% tax free dividend interest.^[22]

Kiyosaki has also stated in numerous interviews that he does not invest or play the stock market much like the fact that he does not invest in oil company stocks. Instead, Kiyosaki trades stock options, Forex currencies, and other derivatives in the financial markets as stated in a chapter written in his book, Rich Dad's Prophecy and in a 2009 interview with real estate investor John Hartman.^[15]

Kiyosaki has frequently mentioned himself of investing in hedge funds, private placements, and other various funds such as private equity funds typically investments reserved by SEC law only for millionaires or high-income individuals.

Kiyosaki is also involved in the commodity market where he invests in gold and silver commodities as well as gold and silver ETF's, as written in chapter of his 2008 book, "Rich Dads, Increase Your Financial IQ". He stated this for the reason that he uses commodities as a hedge against uncertain economic forces such as inflation and hyperinflation as well as government's mismanagement via printing of the nations currency.^[21]

Teachings[link]

A large part of Kiyosaki's teachings focus on what he calls "financial education" generating passive income by means of investment opportunities, such as real estate investments and businesses, with the ultimate goal of being able to support oneself by such investments alone and thus achieving true financial independence WITHOUT working for a paycheck. In tandem with this, Kiyosaki defines the term "assets" as things that generate cash inflow, such as stock dividends, rental properties, or businesses, and the term "liabilities" as things that use cash, such as houses, cars, and so on. Kiyosaki continuously argues that financial leverage is critically important in becoming rich, despite the inherent financial risks, repercussions, and pitfalls that come with it.

Originally self-published before being picked up commercially to become a best seller, the central concept of the book is an anecdotal comparison of his "two fathers." His "poor dad" was his biological father, who was highly educated and became Superintendent of the Hawaii State Department of Education but was poor. Contrasted with this is his (arguably fictitious, see "Criticism and controversy" section of this article) "rich dad," his best friend's father who became "the richest man in Hawaii" by investing his smaller income into income-producing investments, and was a high school dropout. Its main purpose as a self-help book is to help people rethink their idea of money and especially their concept of themselves as employees who will gain financial rewards from conformity and education.

Kiyosaki uses the "rich dad, poor dad" comparison to illustrate his view that the majority of people are stuck in what he refers to as "the rat race"—living paycheck to paycheck and spending all of their time working to pay bills and other expenses. In his books, Kiyosaki advocates tax-advantaged investment vehicles, such as real estate or businesses, rather than ownership of securities such as stocks. This idea is further developed in his later books and "Rich Dad" became Kiyosaki's personal brand for various publishing ventures.

Kiyosaki continuously stresses financial literacy through the acquisition of he calls "assets" as the means to obtaining wealth. He says that life skills are often best learned through experience and that there are important lessons not taught in school. He says that formal education is primarily for those seeking to be employees or self-employed individuals, and that this is an "Industrial Age idea." And according to Kiyosaki, in order to obtain financial freedom, one must be either a business owner, an investor, or both generating passive income, particularly on a monthly basis.

Kiyosaki often refers to The CASHFLOW Quadrant, a conceptual tool which he developed to categorize the four major ways income is earned. Depicted in a diagram, this concept entails four groupings, split with two crossed lines (one vertical and one horizontal). In each of the four groups there is a letter representing a way in which an individual may earn income. The letters are as follows.

• E: Employee — Working for someone else.
• S: Self-employed or Small business owner — Where a person owns his own job and is his own boss.
• B: Business owner — A person who owns a business to make money; typically where the owner's physical presence is not required.
• I: Investor — Investing money in order to receive a larger income in the future.

For those on the left side of the divide (E and S), Kiyosaki says that they may never obtain true wealth. Conversely, those on the right side of the divide (B and I) are supposedly following the only road to true wealth.

Kiyosaki also classifies the four main "asset" classes as means of gaining wealth.^[23]:

• Businesses: Businesses that generate monthly cash flow that don't require the owners physical presence.
• Real Estate: Real estate such as owning warehouses, small family homes, or apartment houses that generate monthly cash flow.
• Paper Assets: Investments such as stocks, bonds, hedge funds etc.
• Commodities: Gold, silver, iron ore, or copper that are used to hedge government's mismanagement printing of the nations currency.

Games[link]

Kiyosaki also stresses the value of games, particularly Monopoly, as tools for learning basic financial strategies such as "trade four green houses for one red hotel." Kiyosaki has created several games such as Cashflow 101 and Cashflow 202 to reinforce the information in his book.

Media appearances[link]

Several local stations of the Public Broadcasting Service (PBS), including WTTW of Chicago, KAET of Phoenix, KOCE of Orange County, California, WLIW of the New York/New Jersey area, and WGBH of Boston, have featured Kiyosaki with his now cancelled Rich Dad TV series. His latest TV special was a fund-raising drive. During this television special, Rich Dad's Guide to Wealth with Robert Kiyosaki, he provides viewers with financial education, opposing the common notion of getting a college degree and downplaying the importance of attaining academic or professional education.

Kiyosaki has been seen giving financial advice on various network television news channels such as on CNBC, Fox Business, and Bloomberg. He has appeared on various programs such as The Oprah Winfrey Show,^[24] Fox and Friends,^[25][26][27] Larry King Live,^[28] The O'reilly Factor, The Alex Jones Show,^[13] Glenn Beck,^[29] and Your World with Neil Cavuto.^{[25][30][31][32]}

In 2002, a speech given by Kiyosaki became the subject of a CNN story.^[33]

In 2006, Kiyosaki appeared on CNBC, discussing financial issues, answering questions from the audience, and comments by the financial experts werere also invited. In particular, Kiyosaki also filled in a few episodes under the title The Millionaire Inside Debt-Free and The Millionaire Inside: Get Inspired. Other financial experts accompanied Kiyosaki, including David Bach, Jennifer Openshaw, Larry Winget, Keith Ferrazi, and Dr. Laura Morgan Roberts have also been invited to the event.^[34][35]

In 2009, Kiyosaki was featured in a 10 Questions session in Time Magazine.^[36]

Over a number of years, Kiyosaki has repeatedly criticized other financial gurus, particularly the financial teachings of Suze Orman and Jean Chatzky, calling it “bad advice”. Because of this, Orman responded to Kiyosaki's attacks via Twitter and the two engaged in a Twitter war back in March 2010.^[37]

In September 2011, Kiyosaki along with wife Kim were featured on the front cover of JETSET magazine.^[38]

Financial advice[link]

Mutual funds[link]

Kiyosaki wrote in one column that investors in any mutual fund with a 2.5% annual fee would, over a long time period, surrender 80% of the earnings to the fund.^[39] Kiyosaki expanded on his criticism of mutual funds in another column by stating they are for "losers."^[40] Despite the fact that most mutual funds actually charged less than 1.1%.^[41] He has drawn much criticism for comparing investing in mutual funds to playing the lottery, and for discouraging 401(k) investing, contrary to the advice of most professional financial advisers.^[42] In contrast to these statements, Kiyosaki wrote in his book Prophecy that while mutual funds are not great investments, they remain one of the few acceptable investment vehicles available to those who will not educate themselves financially.

Kiyosaki's criticisms are supported by the founder of the mutual fund Vanguard, John C. Bogle. In a Frontline episode titled "401(k)s: The New Retirement Plan, For Better or Worse", Bogle stated that management fees and trading costs gobble up approximately 2.5% of an investor's annual returns and approximately 80% of an investor's long term gains. He says management costs reduce the value of a $1,000 investment over 65 years from approximately $140,000 at 8% compounded annually to a mere $30,000 at 5.5% compounded annually. Bogle's solution is to utilize index funds, which charge as little as 0.09%, to substantially reduce or eliminate management fees.^[43]

Criticism and controversy[link]

Kiyosaki's books and teachings have been criticized for focusing on anecdotes and containing little in the way of concrete advice on how readers should proceed.^[44] Kiyosaki responds that his material is meant to be more of a motivational tool to get readers thinking about money rather than a step-by-step guide to wealth. He also says the books are supposed to be "interesting" to people, which precludes involving a lot of technical material.^[45]

The Canadian Broadcasting Corporation consumer affairs program Marketplace ran an investigative piece on Kiyosaki's questionable business practices on Jan 29, 2010. It includes interviews with Kiyosaki.^[46]

Bibliography[link]

Kiyosaki is best known for his book Rich Dad, Poor Dad. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing. He has now had at least a dozen books published, including:

• If You Want to Be Rich & Happy: Don't Go to School? : Ensuring Lifetime Security for Yourself and Your Children (1992). ISBN 0-944031-38-2.
• Rich Dad Poor Dad - What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not! (first published in 1997) Warner Business Books. ISBN 0-446-67745-0.
• CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom (2000). ISBN 0-446-67747-7.
• Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! (2000). ISBN 0-446-67746-9.
• The Business School for People Who Like Helping People (March, 2001). ISBN 99922-67-42-9 - endorses multi-level marketing
• Rich Dad's Rich Kid, Smart Kid: Giving Your Children a Financial Headstart (2001). ISBN 0-446-67748-5.
• Rich Dad's Retire Young, Retire Rich (2002). ISBN 0-446-67843-0.
• Rich Dad's Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming… and How You Can Prepare Yourself and Profit from It! (2002). Warner Books, Incorporated. ISBN 0-641-62241-4.
• Rich Dad's The Business School: For People Who Like Helping People (2003) ISBN 979-686-729-X.
• Rich Dad’s Success Stories (2003)
• You Can Choose to be Rich (2003) 12-CD Audio series with three books.
• Rich Dad's Who Took My Money?: Why Slow Investors Lose and Fast Money Wins! (2004)ISBN 0-446-69182-8.
• Rich Dad, Poor Dad for Teens: The Secrets About Money—That You Don't Learn in School! (2004) ISBN 0-446-69321-9.
• Rich Dad's Before You Quit Your Job : 10 Real-Life Lessons Every Entrepreneur Should Know About Building a Multimillion-Dollar Business (2005). ISBN 0-446-69637-4.
• Rich Dad's Escape from the Rat Race - Comic for children (2005)
• Why We Want You to Be Rich: Two Men, One Message (2006) co-written with Donald J. Trump ISBN 1-933914-02-5.
• Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money (2008). ISBN 0-446-50936-1.
• Rich Dad's Conspiracy of the Rich: The 8 New Rules of Money (2009). ISBN 0-446-55980-6
• Rich Dad's Rich Brother Rich Sister (2009) co-written with Emi Kiyosaki
• The Real Book of Real Estate: Real Experts. Real Stories. Real Life. (2010). ISBN 1-4587-7250-0.
• An Unfair Advantage: The Power of Financial Education (2011). ISBN 1-61268-010-0.
• Midas Touch: Why Some Entrepreneurs Get Rich And Why Most Don't (2011), co-written with Donald J. Trump ISBN 1-61268-095-X.

Notes[link]

References[link]

External links[link]

	Biography portal
	Business and economics portal

Wikiquote has a collection of quotations related to: Robert Kiyosaki

• Official website
• Hawaii Business Magazine June 2002 cover story on Kiyosaki

The Edge
Background information
Birth name	David Howell Evans
Born	(1961-08-08) 8 August 1961 (age 50) Barking, Essex, England, United Kingdom
Origin	County Dublin, Ireland
Genres	Rock, post-punk, alternative rock
Occupations	Musician, songwriter, activist
Instruments	Guitar, vocals, keyboards, piano, bass guitar
Years active	1976–present
Labels	Island, Mercury
Associated acts	U2, Passengers
Website	www.u2.com
Notable instruments
Gibson Explorer Fender Stratocaster Gibson Les Paul Fender Telecaster Gretsch Country Gentleman Gretsch White Falcon Rickenbacker 330/12

David Howell Evans (born 8 August 1961), more widely known by his stage name The Edge (or just Edge),^[1] is a musician best known as the guitarist, backing vocalist, and keyboardist of the Irish rock band U2. A member of the group since its inception, he has recorded 12 studio albums with the band and has released one solo record. As a guitarist, The Edge has crafted a minimalistic and textural style of playing. His use of a rhythmic delay effect yields a distinctive ambient, chiming sound that has become a signature of U2's music.

The Edge was born in England to a Welsh family, but was raised in Ireland after moving there as an infant. In 1976, at Mount Temple Comprehensive School, he formed U2 with his fellow students and his older brother Dik. Inspired by the ethos of punk rock and its basic arrangements, the group began to write its own material. They eventually became one of the most popular acts in popular music, with successful albums such as 1987's The Joshua Tree and 1991's Achtung Baby. Over the years, The Edge has experimented with various guitar effects and introduced influences from several genres of music into his own style, including American roots music, industrial music, and alternative rock. With U2, The Edge has also played keyboards, co-produced their 1993 record Zooropa, and occasionally contributed lyrics. The Edge met his second and current wife, Morleigh Steinberg, through her collaborations with the band.

As a member of U2 and as an individual, The Edge has campaigned for human rights and philanthropic causes. He co-founded Music Rising, a charity to support musicians affected by Hurricane Katrina. He has collaborated with U2 bandmate Bono on several projects, including songs for Roy Orbison and Tina Turner, and the soundtracks to the musical Spider-Man: Turn Off the Dark and the Royal Shakespeare Company's London stage adaptation of A Clockwork Orange. In 2011, Rolling Stone magazine placed him at number 38 on its list of "The 100 Greatest Guitarists of All Time".

Personal life[link]

The Edge at a U2 concert in Anaheim (2005)

David Howell Evans was born at the Barking Maternity Hospital,^[2] Essex, England to Welsh parents Garvin and Gwenda Evans.^[1] When he was one, his family moved to County Dublin, Ireland where he attended St Andrew's National School. He received piano and guitar lessons and often performed with his brother Dik Evans before they both answered an advertisement posted by Larry Mullen, Jr. at their school, Mount Temple Comprehensive School, seeking musicians to form a band.^[3] The band accepted both of them. This band went through several incarnations before emerging as U2 in March 1978 (Dik Evans left the band just before the name change).^[3] U2 began performing in various venues in Ireland and eventually began developing a following. Their debut album, Boy, was released in 1980.

In 1981, leading up to the October tour, Evans came very close to leaving U2 for religious reasons, but he decided to stay.^[3] During this period, he became involved with a group called Shalom Tigers, in which bandmates Bono and Larry Mullen Jr. were also involved.^[4] Shortly after deciding to remain with the band, he wrote a piece of music that later became "Sunday Bloody Sunday".^[3] The Edge married his high school girlfriend Aislinn O'Sullivan on 12 July 1983.^[5] The couple had three daughters together: Hollie in 1984, Arran in 1985 and Blue Angel in 1989.^[4] The couple separated in 1990, but were unable to get officially divorced because of Irish laws regarding marriage annulment; divorce was legalised in 1995 and the couple were legally divorced in 1996.^[4]

In 1993, The Edge began dating Morleigh Steinberg, a professional dancer and choreographer employed by the band as a belly dancer during the Zoo TV Tour. They had a daughter, Sian (born 1997), and a son, Levi (born 25 October 1999),^[4] before marrying on 22 June 2002.^[4] He appeared in the 2009 music documentary film It Might Get Loud.^[6] The Edge has been criticized for his efforts to build five luxury mansions on a 156 acre plot of land in Malibu, California.^[7] The California Coastal Commission voted 8-4 against the plans, with the project described by the commission's executive director, Peter Douglas, as "In 38 years...one of the three worst projects that I've seen in terms of environmental devastation...It's a contradiction in terms – you can't be serious about being an environmentalist and pick this location."^[7] The Santa Monica Mountains Conservancy agreed to remain neutral on the issue following a $1 million donation from The Edge and a commitment from The Edge to designate 100 acres of the land as open space for public footpaths.^[7]

Music style[link]

Guitar playing[link]

As a guitar player, The Edge has a sound typified by a low-key playing style, a chiming, shimmering sound (thanks in part to the sound of VOX AC-30s) that he achieves with extensive use of delay effects and reverb. The feedback delay is often set to a dotted eighth note (3/16 of a measure), and the feedback gain is adjusted until a note played repeats two or three times.^{[citation needed]}

On 1987's The Joshua Tree, The Edge often contributes just a few simple lead lines given depth and richness by an ever-present delay. For example, the introduction to "Where the Streets Have No Name" is simply a repeated six-note arpeggio, broadened by a modulated delay effect. The Edge has said that he views musical notes as "expensive", in that he prefers to play as few notes as possible. He said in 1982 of his style,

"I like a nice ringing sound on guitar, and most of my chords I find two strings and make them ring the same note, so it's almost like a 12-string sound. So for E I might play a B, E, E and B and make it ring. It works very well with the Gibson Explorer. It's funny because the bass end of the Explorer was so awful that I used to stay away from the low strings, and a lot of the chords I played were very trebly, on the first four, or even three strings. I discovered that through using this one area of the fretboard I was developing a very stylized way of doing something that someone else would play in a normal way."^[9]

Many different influences have shaped The Edge's guitar technique.^{[citation needed]} His first guitar was an old acoustic guitar that his mother bought him at a local flea market for only a few pounds; he was nine at the time. He and his brother Dik Evans both experimented with this instrument.^[9] He said in 1982 of this early experimentation, "I suppose the first link in the chain was a visit to the local jumble sale where I purchased a guitar for a pound. That was my first instrument. It was an acoustic guitar and me and my elder brother Dik both played it, plonking away, all very rudimentary stuff, open chords and all that."^[9] The Edge has stated that many of his guitar parts are based around guitar effects. This is especially true from the Achtung Baby era onwards, although much of the band's 1980s material made heavy use of echos.

Vocals[link]

The Edge in June 2005

The Edge also supplies the backing vocals for U2. U2's 1983 live album and video release, Under a Blood Red Sky and Live at Red Rocks: Under a Blood Red Sky are good reference points for his singing (as are the live DVDs from the Elevation Tour, U2 Go Home: Live from Slane Castle and Elevation 2001: Live from Boston). For example, he sings the chorus to "Sunday Bloody Sunday" (Bono harmonizes on the final 'Sunday'). U2 used this tradeoff technique later in "Bullet the Blue Sky" as well. His backing vocals are sometimes in the form of a repeated cry; examples of songs that use this approach include "Beautiful Day", "New Year's Day" and "Stay (Faraway, So Close!)". Another technique he uses in his backing vocals is the falsetto, in songs such as "Stuck in a Moment You Can't Get Out Of", "Sometimes You Can't Make It on Your Own", "A Man and a Woman", "The Wanderer", live versions of "The Fly", and "Window in the Skies".

The Edge sings the lead vocal on "Van Diemen's Land" and "Numb", the first half of the song "Seconds", dual vocals with Bono in "Discotheque", and the bridge in the song "Miracle Drug".^[4] He also sings the occasional lead vocal in live renditions of other songs (such as "Sunday Bloody Sunday" during the PopMart Tour and "Party Girl" during the Rotterdam Zoo TV show when it was Bono's birthday).^[10] He also plays a solo acoustic version of the song "Love is Blindness" that is featured in the documentary film From the Sky Down.

Other instruments[link]

He has played piano and keyboards on many of the band's songs, including "I Fall Down", "October", "So Cruel", "New Year's Day", "Running to Stand Still", "Miss Sarajevo", "The Hands that Built America", and "Original of the Species" and others. He plays the organ on "Please". In live versions of "New Year's Day", "The Unforgettable Fire", "Your Blue Room", and "Moment of Surrender", he plays both the piano and guitar parts alternately. In most live versions of "Original of the Species," piano is the only instrument played during the song. Although The Edge is the band's lead guitarist, he occasionally plays bass guitar, including the live performances of the song "40" where The Edge and bassist Adam Clayton switch instruments.

Solo recordings[link]

In addition to his regular role within U2, The Edge has also recorded with such artists as Johnny Cash, B. B. King, Tina Turner, Ronnie Wood, Jay-Z, and Rihanna. The Edge connected with Brian Eno and Lanois collaborator Michael Brook (the creator of the infinite guitar, which he regularly uses), working with him on the score to the film Captive (1986). From this soundtrack the song "Heroine", the vocal of which was sung by a young Sinéad O'Connor was released as a single.

He also created the theme song for season one and two of The Batman. He and fellow U2 member, Bono, wrote the lyrics to the theme of the 1995 James Bond film GoldenEye. The Edge, along with bandmate Bono, recently composed a musical adaptation of Spider-Man. On May 25, 2011, a single titled Rise Above 1: Reeve Carney Featuring Bono and The Edge was released digitally.^[11] The music video was released on July 28, 2011.^[12]

Musical equipment[link]

Edge's 1964 Vox AC30 on stage in Foxborough for the U2 360° Tour.

The Edge plays electric guitar, acoustic guitar, keyboards, piano, bass guitar (on "40" and "Race Against Time") and lap steel guitar. Compared to many lead guitarists, The Edge is known for using many more guitars during a show. According to his guitar tech Dallas Schoo, a typical lead guitarist uses four or five different guitars in one night, whereas The Edge takes 45 on the road, and uses 17 to 19 in one 2.5-hour concert. He is estimated to have more than 200 guitars in the studio.^{[citation needed]}

Philanthropy[link]

In 2005, The Edge along with Bob Ezrin and Henry Juszkiewicz co-founded Music Rising, a charity that helped provide replacement instruments for those that were lost in Hurricane Katrina. The instruments were originally only replaced for professional musicians but they soon realized the community churches and schools needed instruments as well. The charity's slogan is "Rebuilding the Gulf Region note by note" and has so far helped over a hundred musicians who were affected by Hurricane Katrina. The Edge also serves on the board of the Angiogenesis Foundation, a 501(c)(3) nonprofit organization dedicated to improving global health by advancing angiogenesis-based medicine, diets, and lifestyle.^[13]

See also[link]

• Timeline of U2
• List of people on stamps of Ireland

References[link]

Footnotes

Bibliography

External links[link]

This article's use of external links may not follow Wikipedia's policies or guidelines. Please improve this article by removing excessive or inappropriate external links, and converting useful links where appropriate into footnote references. (October 2011)

Wikimedia Commons has media related to: The Edge

Wikiquote has a collection of quotations related to: The Edge

• U2.com, official U2 site
• Music Rising
• The Edge at the Internet Movie Database
• The Edge – Album Credits
• A Study of The Edge's Guitar Delay
• The Edge: 'It's all about the vision'
• Food Bank For New York City public service announcement
• Comment on the mathematical analysis of The Edge's guitar sound