As many of you know I have been following Peter Schiff for a few years now, been posting some of his articles on elitetrader since 2006 and agree 100% with everything he says, here is an updated video of the last 2 years of interviews between him and the people who laughed at him and his opinions, it amazes me to see how they disagree with him, I mean did people like Ben S.and Mike N. really think that nothing was wrong with this economy, it was common sense, after watching this video you want to bitch slap every one of those fools for thinking the economy was going to be in an everlasting uptrend......I think Peter Schiff owns EVERY one of those fools right now. They need to step up and admit Peter was right the entire time. ENJOY.... <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/2I0QN-FYkpw&hl=en&fs=1&color1=0x2b405b&color2=0x6b8ab6"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/2I0QN-FYkpw&hl=en&fs=1&color1=0x2b405b&color2=0x6b8ab6" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
As much as I admire him being right, specially against Ben S., his investors are down -40%, so being right is one thing, successfully trading on your conviction is another. Crashproof your folio my ass..... From the Forbes website: "Posted by sabusinbad | 09/10/08 04:21 PM EDT Invested with Euro pacific 7 months ago, Peter Schiff is my account manager. As of 9/10/08 my account is negative 39.48% .The account consists of 'conservative' overseas stocks 10 out of 12 of which are insanely depleted thanks to Mr Schiff in his well advertised wisdom selected. "
i bet most are down more than 30% if they started investing in june... he's big on australian stocks and we all know how bad the aussie dollar got bitchslapped. i love him though just picked up his new book
Yeah, they are down that much when they bought him at the high... People like me who have been with him for years are up a ton... yah, we took a hit in the last few months, but so did everyone... and the dividends keep coming... Whiners...!!!
Peter Schiff is the MAN! Too bad he couldn't capitalize on it. I wonder if they ever revisited those calls on FOX? Probably not. Those clowns look like absolute fools with zero credibility now. No way they'd allow themselves to be embarrassed after those calls.
Not to be too argumentative, but.... 1. Others being also down is small comfort. After all he wasn't supposed to be down at all, or just very little. 2. The guys who disagreed with him didn't write books like this: http://www.amazon.com/Crash-Proof-Economic-Collapse-Sonberg/dp/0470043601
Remember Pek - an investment at Europac is a long term thing...those folks who are bitching and moaning now are the ones who invested right when the dollar bottomed and the equities started crashing...it's classic 'investor' mentality... I'm outperforming Peter over the last 6 months, no question about that, but I don't care because he has me in dividend paying stocks that I don't have any intention of selling. It's all a matter of timing...People who invested in 2004 are laughing...still...
Schiff is just the latest version of the loud perma bear who randomly looks good at certain times because they aren't really calling anything. If I beat the drum for a bull market for the next 15 years I'm pretty sure I can "call" the bull.
Wrong...Peter's been almost 100% right since I started following him in 2001...He has missed the interest rate boat and the USD rally that began in August 2008...but that's it...
Peter Schiff must be feeling like a complete moron now. Made all the right calls and lost huge money this year. Big difference between a talking head with a big mouth on TV and an astute trader. In Reality Schiff is no better than all the Wall St. buy and hold asshats he's criticizing all the time. Instead of buying GE and BAC and holding them he's buying emerging market gold miners and Chinese shipping companies and holds them through 80% drawdowns.