Peter Schiff - Authors@Google
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Then they were idiots. Schiff's strategy is not a short strategy. If you play it short, you are speculating. Schiff is an investor, not a speculator.
Most of his clients who got in last year and took a beating, are already recovering faster than the market at large.
He's not calling trends. He's investing based on fundamentals, not bull herd mentality.
Any of your friends who got crushed and sold are idiots. You don't buy high and sell low. And if they didn't realize their losses with a sale, then the daily value of their investments is meaningless. Nearly all of Schiff's recommendations are dividend bearing, that is to say, they pay cash on the barrel head.
"Any of your friends who got crushed and sold are idiots. You don't buy high and sell low. And if they didn't realize their losses with a sale, then the daily value of their investments is meaningless. Nearly all of Schiff's recommendations are dividend bearing, that is to say, they pay cash on the barrel head."
Wrong Wrong Wrong
Schiff was long commodities and foriegn currencies/stocks. 2 things he did not get. How deflation crushes every asset class. And how a banking crisis would effect the currency markets. In fact he was looking for hyperinflation in the US, short the dollar.
He was right about US equities and real estate (an easy call to make) and wrong about inflation.
Eventually inflation will return he may make his clients money but he will NEVER do it consistently because he does not know how to manage money.
Anyone that would let their portfolios get hacked for 60% doesn't know what they are doing. He does know one thing; how to market to the unsophisticated and that is all.
He will fade into the abyss just like almost every guru that got lucky with a little marketing exposure and got the call right ( in his case kind of)
I know tons of people that banked millions in 2007, 2008 because they got it right completely. You don't see them spamming youtube with hundreds of videos and snippets. I can't believe you guys fall for that shit.
Schiff is a ham
Wrong Wrong Wrong
Schiff was long commodities and foriegn currencies/stocks. 2 things he did not get. How deflation crushes every asset class. And how a banking crisis would effect the currency markets. In fact he was looking for hyperinflation in the US, short the dollar.
He was right about US equities and real estate (an easy call to make) and wrong about inflation.
Eventually inflation will return he may make his clients money but he will NEVER do it consistently because he does not know how to manage money.
Anyone that would let their portfolios get hacked for 60% doesn't know what they are doing. He does know one thing; how to market to the unsophisticated and that is all.
He will fade into the abyss just like almost every guru that got lucky with a little marketing exposure and got the call right ( in his case kind of)
I know tons of people that banked millions in 2007, 2008 because they got it right completely. You don't see them spamming youtube with hundreds of videos and snippets. I can't believe you guys fall for that shit.
Schiff is a ham
Who's shit do you fall for?
Schiff is the man. I hope his senate campaign is successful so we have another voice of reason in the senate besides RP.
He's still looking for hyperinflation. Rogers and Faber both think it is coming now. So does Taleb. All of the market realists are planning for it, but he was out front back in 2006. Again, this is a long strategy, not a short.
It's only an easy call to make in hindsight. 2 years ago when I was warning people, everyone looked at me like I was retarded. Now they still look at me like I am retarded, but they have less money in their pockets when they do it.
You do know he is killing 2009 thus far, right?
Who?
Very true... thanks for catching that, I'll post some boobs as a reward when the GF isn't around.
Regardless of the term of an investment strategy a money manager that knows what they are doing NEVER lets their portfolio get decimated like Schiff did. EVERYBODY IS RIGHT IF YOU WAIT LONG ENOUGH!!!. He got it wrong and got crushed and refused to make an adjustment.
Schiff is a ham looking for a spotlight and knows nothing about the game of money.
His stubborn ego and spotlight desires will eventually destroy his clients.
btw... Everybody is up this year, even the idiots. If you haven't noticed almost all asset classes are up, many are up double digits.
And yes, inflation is a certainty, the ugly kind.
No, I can't out my friends on a fucking forum, if you really want to know PM me and I will give you a taste.
Schiff is a ham looking for a spotlight and knows nothing about the game of money.
His stubborn ego and spotlight desires will eventually destroy his clients.
btw... Everybody is up this year, even the idiots. If you haven't noticed almost all asset classes are up, many are up double digits.
And yes, inflation is a certainty, the ugly kind.
No, I can't out my friends on a fucking forum, if you really want to know PM me and I will give you a taste.
HELLO, the market fucking crashed and some people were wiped completely out. Obviously lots of money managers didn't know what the fuck they were doing, specifically the ones at Bear Stearns amongst many others.
If you can't out your friends in public, then don't bring them up in public.
It goes without saying, that people who got in at the wrong time took a bath. That doesn't invalidate Schiff's predictions (true) or his long term strategy which is solid.
As far as everyone making out in the long term, that is the same institutional mentality that lead people to keep buying into all of the ponzi schemes, and thinking that Dow 50,000 and Dow 100,000 were possible within the next decade. A bunch of dreamers. It's the koolaid drinkers who hop on late and try to ride bull markets who develop a confirmation bias that leads to idiotic statements about your friends you can't name doing so great in 2007 and 2008.
You out yourself when you refer to it as "the money game".
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