According to John T. Reed the famous book is filled with bad advice:
- "If you're gonna go broke, go broke big"
- Convinces people that college is for suckers
- Advocates committing a felony: have rich friends for trading stock based on non-public inside information, he says "That's what friends are for."
- Recommends tax fraud by deducting vacations and health club dues
- Brags about using a partner weasel clause in which his cat is his partner