What are the arguments by Peter Schiff?

[makloda]

Interesting article in Forbes about Schiff, dated February 2008 (i.e. before his entire investment theory blew up): http://www.forbes.com/forbes/2008/0310/072.html

His managed accounts must be down huge from the spring/summer peaks. Foreign/emergings markets down 50%+ and emerging market currencies in the dumpster. Crash proof my ass.

 

[BadCo]

Quote from piggie2000:

Lets get it straight that schiff has lost as much or more as any long in the mkt. He was hugely long oil,gold stocks and foreign stocks all of which are down 50% min. He also was short the $ that went wild to the upside. Its like schiff was ivan drago killing rocky balboa only to get knocked out in the 15th. Make no mistake schiff is a very angry destroyed investor.What he said is 100% right but the difference between making money and losing is a game of inches.

He saw the housing bubble, but, for some reason, didn't see the commodity and emerging markets bubble.

 

[good one]

The problem is the hard asset guys pick and chose what they want to show as being right on.
Parade out vague macro economic calls and gloss over the fact that their real money bets have gotten totally crushed...
The sad thing its just smart strategy when you run a hard asset management business.

 

[Daal]

he praises the free market and YET thats the same free market who went towards services production instead of manufacturing. I dont recall presidential candidates running for office with slogans 'we will be a service economy in 10 years'.

Let me guess, he blames greenspan on this too

 

[luckybastard]

Quote from Baron:

Peter Schiff's opinion has been spot on for years now. This video makes him look like he had a crystal ball the whole time. His bullish opponents who were laughing at him and saying that the markets were going even higher now look like idiots in retrospect:

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Man ... it's scary how right Peter was ... about EVERYTHING ! I don't think I've ever seen something like this before. Every single prediction he made, EXACTLY happened like he predicted.

This guy is a hero.

 

[bugscoe]

Great video. What's more interesting is how wrong all thoses others were, laughing at Peter like he's nuts.

Now that can't be good for business!

 

[BadCo]

Quote from Baron:

Peter Schiff's opinion has been spot on for years now. This video makes him look like he had a crystal ball the whole time. His bullish opponents who were laughing at him and saying that the markets were going even higher now look like idiots in retrospect:

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I've seen the clip w/ Laffer, but not the others. The smugness of those tools is incredible. And, Ben "Know it All" Stein talking about how the fins are a steal. LMAO.

 

[Pekelo]

Quote from makloda:


His managed accounts must be down huge from the spring/summer peaks. Foreign/emergings markets down 50%+ and emerging market currencies in the dumpster. Crash proof my ass.

Exactly. A perfect prediction is WORTHLESS if you do not take advantage of it. In the video he recommended GLD for the next year $83 at the time of the video. It went over $100, but today it is $73....

Timing is everything....

 

[makloda]

This is what somebody posted in the above Forbes article comments section - he claims to be a customer of Peter Schiff's investment advisory firm.

Posted by sabusinbad | 09/10/08 04:21 PM EDT
Invested with Euro pacific 7 months ago, Peter Schiff is my account manager. As of 9/10/08 my account is negative 39.48% .The account consists of 'conservative' overseas stocks 10 out of 12 of which are insanely depleted thanks to Mr Schiff in his well advertised wisdom selected.

Schiff is on TV 24/7, trying to get unsophisticated investors to invest with him. He pumps his book 'Crash Proof', claiming he has a magic recipe to dodge the meltdown.

How many retired housewifes and naive investors got burned by him?

 

[a5519]

Quote from Baron:

Peter Schiff's opinion has been spot on for years now. This video makes him look like he had a crystal ball the whole time. His bullish opponents who were laughing at him and saying that the markets were going even higher now look like idiots in retrospect:

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Entertaining and wonderful video !
The people who were laughing at Peter schiff now look not very smart.