Pat Robertson aims to answer investors' prayers

Pat Robertson — the controversial founder of The Christian Broadcast Network — is attempting to answer the prayers of investors who are fast losing faith in their advisers. In a new book, "Right on the Money: Financial Advice for Tough Times," Mr. Robertson turns from televangelist into a financial guru, offering tips on debt reduction and retirement planning, while also giving his views on the current financial crisis. Mr. Robertson touts his financial skills, claiming that his personal portfolio management track record would rank him "within the top 1% of the nation's fund managers." Accordingly, he provides his readers with his "secrets to wealth." The first secret, the "Law of Use," encourages people to invest in the market even in bad times. This law, Mr. Robertson writes, is "without question the foundational law of financial growth. In times of steady inflation, the 'wicked and slothful servant' leaves his money in a non-interest bearing checking account, which over time, because of inflation, gradually becomes worthless. Or he is afraid of the complexity of investing and thereby spends all of his money on current consumption entering retirement a virtual ward of the government." Another secret: "having the blessing of God on your finances." "That secret is activated by giving," he continued. "In my financial planning, giving takes precedence." While the book represents Mr. Robertson's first foray into personal finance publishing, he's no stranger to financial success. The former 1988 Republican presidential candidate, in addition to founding the CBN, also started International Family Entertainment Inc. Mr. Robertson sold that company, which was listed on the New York Stock Exchange, to Fox Kids Worldwide Inc. for nearly $1.9 billion in 1997. He also thrust himself into the national spotlight with inflammatory comments about terrorist attacks and gay men and women, as well as suggesting that Venezuelan President Hugo Chavez should be assassinated. The book was published by the Nashville, Tenn.-based Faith Words.