OPM
From CaseyPedia
OPM, an initialism that stands for "Other People's Money," is a term that refers to the usage of funds other than those of the investor for investment purposes. For Casey Serin, "OPM" is often used to describe his judicious use of credit cards and fraudulently-obtained funds in his various ventures.
- Since I put $0 of my own money into the deal the rate of return is infinite. That’s the power of leverage… or “OPM” (Other People’s Money) as Robert Kiyosaki and other “gurus” like to say. I even heard a quote, don’t remember who said it, but it’s a good one: "The fastest way to becoming a millionaire is to borrow a million." That means using borrowed funds (leverage) to super-charge your investing and get to your financial goals much faster.[1]
Multiple commenters pointed out that Casey had completely misinterpreted the quote:
- I don’t believe you understand this quote. If you did, you’d realize it’s not an endorsement of what you’re doing but a condemnation.[2]
[edit] References
- ↑ Arbitrage, OPM, Investing with Leverage… GSPG Example, TrueCasey, September 17, 2008
- ↑ Comment by palestine4ever on TrueCasey, September 17, 2008
