The more you talk, the more clueless you appear. http://www.bloomberg.com/apps/news?pid=20601087&sid=al8v4wR00eSo
Schiff is literally the biggest fraud of all time. He has scammed everyone into thinking that he called this collapse. If he correctly saw this coming why is his portfolio down 80%? Almost a quarter of the companies that he recommended are bankrupt! Does this sound like someone who knows what they are talking about? His stocks were LEADING the collapse. If you see something coming you should be able to profit, like Elliot Wave did, and not be annihilated like Schiff was. On top of that the guy is delusional. He still won't acknowledge that oil was a bubble. He insists on calling a collapse from 147 to 34 a "fake out". On top of that this moron told people for YEARS not to buy real estate because there was a massive bubble. Then just a few months ago he turns around and buys a home. There were a number of people who called into his radio show who asked him about buying their "dream home". He was always adamant that they should hold off and send him their money. Those people are now worth 10% of what they were before and they have to witness the horror of Schiff purchasing a home. Bottom line is Schiff was clueless, is clueless and will continue to be clueless. Do not listen to anything he has to say unless you want to go bankrupt.
He is running for the US senate from CT in 2010. He has such an honest face too. http://www.schiff2010.com/
Hello Fullblotter, I am not disputing anything your saying or trying to attack you but do you have links or sources for what your saying? From what I have seen on very small video 'sound bytes' he appears to have called the crash. Of course if he has been saying the sky is falling for the last 15 years thats a lot different than if he just started the last 3 or 4 years ago. I am looking at buying his book(s) but would love to see another side. Thanks RW
You might check this out: http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html Posted there about 2/3 down is what is represented to be a copy of a client statement of a Schiff managed portfolio.
Dated in January? Same time when even Buffet was down 50% also. Only difference is peters portfolio has come back. Buffet (who some claim to be the greatest investor ever) is still down over 30%. You will find ALOT of peter schiff was wrong "blogs" that are all dated around dec 2008-feb 2009 or around that time frame. Funny that they took a small period of time and a specific period in time to jump all over him.
Its even funnier how all the newbs defend this clown.. He is nothing more than the loudest gold bug/hard assett guy, all who had been "calling the crash" since 2002-2003.. All of who also got it totally wrong that when the system deleveraged they would be in the asset classes that would profit..instead they were leveraged into some of the hardest hit asset classes. Its the same song and dance, loudmouth asset manager talking his book(pun inteded) who won't beat the S&P over a 20 year time frame.
I invested 100K with Schiff. It is now worth about 38K. If the dollar really collapses maybe I will get close to even.