I just started to follow some of the things written and said by Peter Schiff. He's made some good predictions in the past. Now he's predicting a collapse of the American dollar. Does anyone have an opinion of what he says, good or bad? Do you think he's right by saying get out of any American investments? http://en.wikipedia.org/wiki/Peter_Schiff
http://elitetrader.com/vb/search.ph...=2772861&sortby=lastpost&sortorder=descending Peter Schiff Sam Mcgee Economics 0 12 01-15-09 09:22 PM by Sam Mcgee Peter Schiff slams anchor on Bond Bubble cgtrader Wall St. News 13 1317 01-11-09 03:47 AM by Topsurfi Peter Schiff predictions happen faster now kashirin Trading 1 146 12-17-08 09:19 PM by AAAintheBeltway Peter Schiff on it G-Boa Wall St. News 9 714 12-05-08 10:35 PM by dinoman Peter Schiff Hyofa Economics 8 495 11-30-08 04:35 PM by stoshski What are the arguments by Peter Schiff? Hyofa Economics 28 2096 11-22-08 08:05 PM by harkm Peter Schiff and the Dummies accutrader Trading 0 68 11-20-08 07:45 PM by accutrader Peter Schiff and a bunch of dopes accutrader Trading 0 37 11-20-08 03:02 PM by accutrader Peter Schiff Argues We Will Have A Depression Worse Than The Last & States His Case ByLoSellHi Economics 30 3115 10-21-08 04:24 AM by ByLoSellHi Peter Schiff prediction videos Pekelo Educational Resources 1 269 10-03-08 06:36 AM by dhpar Peter Schiff is crying uncle Daal Economics 6 602 09-12-08 04:04 PM by Digs Peter Schiff calls USD/Commodity move 'headfake'; 'true believers' will prevail makloda Wall St. News 4 419 08-26-08 08:17 AM by jdeezero05 Peter Schiff haters:Eat a knife cgtrader Economics 3 238 07-29-08 02:19 PM by vv111y Peter Schiff interview from 2006.... S2007S Trading 41 2200 07-16-08 03:48 PM by vv111y Peter Schiff nails it. seasideheights Wall St. News 0 330 05-24-08 05:14 PM by seasideheights Peter Schiff is the man.. Matt24SPFL Trading 6 557 12-13-07 02:03 PM by empee PETER SCHIFF On Ron Paul arbprofit2 Politics & Religion 30 2183 11-09-07 09:35 PM by hapaboy
I remember buying his Fathers book about 15 years ago. Although...that didn't seem to do him much good.
Peter Schiff should own half the world right now, if he believed his own predictions. I wonder how his investments are doing.
The problem with Schiff is he trying to trade Macro views. He has been right. and he will continue to be right. But seeing the big picture does not exactly translate into money at the micro level when you are talking about buying individual stocks Look at Warren Buffet, he sucks at making market calls but he is great at buying a companie at below its intrinsic value. I like watching Schiff, but I have yet to see him offer information that is tradeable or bankable. I agree with limiting your exposure to the U.S. dollar, even though this has been the wrong call for the past 8 months and he admits it, in the long run its probably the right call. He is short US. Bond, that is a tough trade, just look at Japan in the 90's, there bond rally lasted for almost 11 years. Its a long time to be short. Never bet against the FED. He is big on China, but it looks like China may be imploding, capital is flowing out not in. And if China devalues the Yuan, all his direct investments are going to get blown out. He is a big advocate of direct foreign stock purchases. His other call is to buy gold, but everyone is selling gold as the investment of 09. He was on a show the other day, and Mario Gabelli busted him on the fact that he will not name a stock or recommend something concrete. I agree he should be more transparent about his calls. He needs to start producing some trades, or he should stick to being a market analyst. Other than that he is entertaining as heck. he has a weekly podcast on his site. But I am not convinced about putting money with him.
If China implodes, the US will resmble a black hole, which in turn will help everyone else to implode. 2009 will see oil hit $15 and the S&P halve. denton
Schiff is great - his calls on real estate well before the market collapse, in the face of cheerleaders and ridicule, are the tops... He missed the USD rally and still can't see the short term forest for the trees..but in the end, he will be vindicated, just so long as the hot money with him cools off a bit and realizes that markets have ups and downs... I threw a bit more cash with him in December, and will probably put more in around April/May when I think Dollar runs out of steam...
Of course, and he has his own agenda with that. He is introducing clients to a prime broker (I believe Pershing) and charges people 1-3% of the trade volume to purchase stocks in foreign exchanges on each transaction. That's how he makes his money. Profiting from people's ignorance and lack of understanding. Not worse than anybody else on Wall St., but definitely not an innocent saint this guy. Why doesn't he go on TV and say "Buy emerging market ADRs or simply US/CAD commodity stocks in USD trading on US exchanges with your current retail discount broker such as Ameritrade, then short the USD against it to hedge your USD exposure with a retail forex broker such as Oanda?" Because his pathetic firm wouldn't make any money that way.
We had a thread on this, do a search. He invested/diversified abroad and since everything went down, his return was pretty much the same as the market's...
Give me a break. His firm is not a discount broker. He advocates buy and hold. How could his firm make money if the didn't charge commissions? Funny how some people don't feel that full service brokers should exist. I was a broker at a full service firm years ago and there are al lot of people who need help and feel more comfortable getting personal attention. I like Schiff because he has the balls to call it like he sees it and doesn't straddle the fence like most. (I do not have an account with Schiff)