Dude went heavily short (his words) in October 2023... I cannot imagine a worse entry. A total clown. Fiction has to make sense. Nearly a 40% dot shot in his face. Any discussion about this guy is a complete waste of time other than as a fade.
Agree (I was wrong) but nothing magically about 20 years, other than to the few who bought then and held all this time. 15, 10 and 5, nothing magically about these timeframes either, but they do show SPX on top. Its always about when you buy and when you sell, or when you short and when you cover.
You're one to talk. You're the guy with a pathological avoidance (denial) of relevant aggregates. You would do well to start talking M2, M3, and total mortgage debt in the US. It's amazing that someone who puts as much effort into economics as you, could be so naive when it comes to credit expansion, rate differentials, money supply, etc. [the following argument(s) not directed to peizoe] As for the OP, Schiff talks his book vis-à-vis his employ at Euro-Pacific Capital Advisors, LLC. He sounds like a gold bug, however he allocates in the typical ways, EM, metals, fx, miners, whatever. Everybody knows that game -- fee generation and AUM growth. Sure, he's a gold bug and dollar perma bear, but he's right about it. Dollar gains against the weakest G7 but collapses relative to equities and commodities. The gold market gains dwarf crypto even with the higher absolute returns, since gold is a ~17 trillion dollar market. You may not like it, but more money's been made off gold than bitcoin. He's been right for a long time about the currency being debased, and how extreme Fed policy is. Also, how ignorant most are about the obvious consequences of such policy.
I'd guess you haven't read many of my posts, or perhaps you did not understand them, which would be my fault.. I've only read one post of yours, so far as I can recall, so I'm going to give you the benefit of a doubt that you can do better. Schiff's been around for a long time, and so have I. He's obviously found a way to make a living, whether it is through having a fortunate birth, through practicing what he preaches, or selling what he preaches would be nice to know. But I do know he won't be making any money from me. If your remark, "[Schiff's] been right for a long time about the currency being debased, and how extreme Fed policy is," is meant to suggest that over a lifetime one would do better to bury a Krugerrand in fruit jar in the back yard than the Krugerrand's equivalent in Dollar Bills, I agree. However I suspect that's not what you meant, but rather something I wouldn't agree with. P.S. Just so there is no unnecessary confusion here, we are both certainly aware that there is a differences between trading gold, investing in gold or gold as a long term storage of value. My view is that gold is not a good long term investment compared with alternatives.
Some here who may not know much about Peter Schiff may find this interesting: https://en.wikipedia.org/wiki/Peter_Schiff
Did you read my prior post? I said he was a perma bear with a one-track mind who has been badly wrong over time. Unless you were replying to someone else? Schiff in fact HAS been good at marketing himself; we are talking about him and he has a media platform. That has zero correlation with investment ability, which is an altogether separate matter where he is a failure.