Schiff made some good calls but the only "Gurus" I like to listen to are Marc Faber and Jim Rogers. They are the only ones who have been right more often than they were wrong. All others are clueless.
The only thing that counts is results. Everything else is showbiz. Where are the millionaires from Jim Rogers management besides him?
I was under the impression that market participants valued positive financial results, not moral victories scored in debating contests. That a guy who bills himself as protecting against crashes experiences such drawdowns is clear evidence he doesn't know what the hell he's doing. IMO, etc.
I am sorry, but you are an idiot. The investors TRUSTED the guy who seemed to be knowing what's going on and was expected to protect the assets, but instead of that "crashproofing" the investors got an asswhipping...
i wonder what peter will tell him when his portfolio is worth nothing in 5 years when most of his foreign companies go bankrupt. don't worry your still getting the same dividend percentage of your million and half dollars..hahaha
LOL, tough love after he loses 1/2 your account. This is like being a fly on the wall at ever hedge fund and brokerage co. this year. Dear formerly high net worth investor I regret to inform you that you are down _____ due to heightened volatility, blah, blah , blah.
Investors TRUST money managers! PUHLLLEEEZE... Cry me a river... Maybe they should bail out the investors!!! BAIL OUT BAIL OUT! In case you don't know this Pekolo, there are no free lunches or guarantees out in our world, let alone in this environment... They will only lose when they sell. No doubt there are many fools who bought at the top, and will sell near the bottom. They are the idiots, not the managers...
You are a self-contradicting moron, who is going on my Ignore, so this is the last one for you: To be loyal is one thing, to be a sorry apologist is another. You are the latter. Yes, investors trust managers, that's why they give them their money to handle. If you hadn't trusted Peter, you wouldn't have invested with him in the first place, right? Investors are not supposed to time the market, that is what the money managers are for. The bottomline is with Peter, that his fund is down just as much as everyone else's, so he failed his investors, because his fund was supposed to be crashproof. If you are happy with a -40% performance that just shows your stupidity. Adios! P.S.: My little fake fund traded live here on ET is UP 8%. That's how you crashproof your portfolio...
Schiff is all about devaluating currencies, some more than others so buy gold. I did and I'm up 10% on that so go Schiff.
I just listened to this guy a few times and I couldn't and still can't agree with many of his one sided , doom and gloom views , although I wasn't bullish. That said these videos make the people laughing at him look like complete idiots. Thanks for exposing that ! I had no idea some recognized authorities on stocks were in that kind of denial at that time. amazing. Back to Schiff and his fellow gold bugs, I wouldn't entrust my money to anyone with that sort of conviction over the future. And I don't know why , this gentleman in particular, I didn't want to say anything but after I listened to the call, the guy is acting like a total crook, not recognizing mistakes and saying the clients hasn't lost anything. The emerging market and commodity bulls bought into a fad. Now it's great if you know what the whole thing is about and when to get out. But the thing with people with the kind of conviction Schiff and Rogers have is ... they can never get out when it 's time. And now it's way too late