Why care about currencies when you can simply hedge your US Dollars with spot forex and collect the positive carry? Why doesn't Schiff explain to us why it's better to outright buy European or Asian stocks than buying US stocks and shorting the corresponding amount of US Dollars and going long Euros, AUD and NZD?
I'll tell you why. Schiff has been claiming US equities are in a historic bubble and remain grossly overvalued and at the same time he claims the grass is greener on the other side and says European and Asian equities offer amazing value propositions. He is acting as if markets were completely decoupled. Did you ever hear him say how European small and mid caps have been trashed and burned in the last 12 months? Down some 30%? You won't ever hear him say that. He will always just repeat on how the US is in a recession and you have to liquidate all US stocks right now and invest in 'quality foreign equities'. Why on earth are people dumb enough to deposit funds with this shill? Why not just buy EFA if you want foreign stocks? P.S. If Schiff is so smart and called the 'housing bubble', why was it PAULSON & CO that made billions shorting subprime paper? Where was Schiff that moron? Giving interviews on TV again????
http://www.youtube.com/watch?v=sC6wS-e3Xgs at 3:28 Only Paulson made money short subprimes, huh? He was short subprime mortgages, thanks very much.. and the result was kaching.. What a bunch of fuckin losers you guys are...
They have over a billion because that's what he told me... As far as I know, B/D's don't disclose track records.. All I have are my statements...which have been very impressive.. Europac is the only thing I have invested in, equity wise, in the last 4 years... And we've been killing it..
Hi PohPoh, I've been thinking of opening an account with him for family. So how come you are on here? Do you do any of your own trading on the side? I'm still not 100% sure his firm can add significant value --- and I'd actually like to ask you about that PohPoh...BUT, the criticisms here for the most part sound uninformed.