12 ways in which Peter Schiff/ !!!!!!? were wrong

sabretoothtigger

http://www.youtube.com/watch?v=XLg-oBA2Lyk

sabretoothtigger

Did you know Peter does stand up comedy?

He has the crowd laughing at the economy's expense in this one.

http://www.youtube.com/watch?v=izynlWz4rmU&feature=channel

wintersunshine wrote: »

Last year was the worst year for his clients. He invested their money in the Aussie stock market, for example, down 41% and bet against the dollar AND US Treasuries - I'm sure you know how that ended...

However, full of confidence he said (From Fortune mag-Feb 9 2009)

"None of this shocks me. Oftentimes in the short run markets are irrational. My problem is I see things too clearly and too far in advance."

Well bet that's a big comfort to his clients:rolleyes: :rotfl:

Problem is that a year is not long enough to say that it is the wrong strategy. Every investment company will tell you the same afaik and he is a broker I would expect his advice is only general, you cant really judge him by client portfolios if he isnt in charge of timing, etc

I have seen some separation in markets recently but really its going to take years to see anything real because the pacific was so dependant on the west for its market.

Eventually it will be obvious if it was correct or not, the problem is not if schiff is wrong but that he might be right and its realised too late

In the video above he admits he lost out on 1 million in 2 years from real estate. He didnt believe in the market fundamentals as renting was cheaper but by the end of his 2 year lease the property had risen 100%. Thats a principled mistake I can understand I guess