Don't forget he missed the emerging market bloodbath. He was ALWAYS talking about the big decoupling theory. About how the US will go into a huge recession but China, Brazil, etc. will be shielded from all that. "Crash Proof" my ass. "Invest with Euro Pacific capital. My firm gives you access to global foreign stock exchanges worldwide. Don't be caught in the next bear market that will tear the US apart." And he charges 2% per transaction? My God people are such sheep.
Except there was a huge rally between 2004-07 and Peter must have missed that. Anyway, is there a website where Euro Pacific's performance is up? I couldn't find any....
Client whining to Schiff about losing him $500k. Schiff's message: "STAY THE COURSE! IT WILL REBOUND!" <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/9kW64YYcUso&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/9kW64YYcUso&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
So it is the investor's fault, not the fund manager's? Of course you are right, because the stupid investor TRUSTED the manager, writer of Crashproofing books...
Wow... and I actually used to respect the guy before listening to this nonesense. So he loses 35% for this investor in 6 months and says that since he's continuing to collect a dividend all is peachy!! He then goes on to say that in a few years his $1.5 million investment could be worth $5 million. Are you serious???!!! What a joke.
You obviously missed the fact that his fund is down just as much as the others' arguing with him. So what good it is to be correct if you can't make money out of it??? I am sure if you were an investor in his fund your opinion of him would change....
Of course its the investors fault...it's always the investors fault for any investment he makes. sure the money manager was wrong to not be in cash, but that's not their mandate. They buy dividend paying stocks in foreign countries. Their job is not to call tops/bottoms. When I invested $1 with Peter in 2004, and by mid 2008 it was worth $3.50 (even after withdrawing some funds), and now it's worth $1.75, I don't give a shit...Sure, I wish I sold in mid-2008, but that wasn't my long term strategy. I'm holding this account till 2014 at the earliest....