Peter Schiff

[zenq]

What are peoples takes on Peter Schiff? Sounds like he was early in predicting the credit meltdown, and is still very down on the economy.
This is a funny video flashback: Peter Schiff was right.
http://au.youtube.com/watch?v=2I0QN-FYkpw

Here is his site.
http://www.europac.net/videomessage.asp

His book
http://www.amazon.com/dp/047038378X...iveASIN=047038378X&adid=0EZK244QM90V6PYAA25R&

Talking about his book
http://au.youtube.com/watch?v=6NvjrfC6i0I

A fairly balanced review of his book
http://www.lewrockwell.com/murphy/murphy129.html
There are tons of videos of his commentary and predictions on youtube.

Intersting stuff

Cheers

 

[Piston Broke]

He's a broken clock.
After preaching the same stuff for years he's finally right on something.
But also wrong on many others.
Those that followed his investment advice are losing their shirts.

But I did read his book "Crash Proof" and found it interesting.
Again I would not follow it though.

 

[chilliaa]

He's a broken clock.
After preaching the same stuff for years he's finally right on something.
But also wrong on many others.
Those that followed his investment advice are losing their shirts.

But I did read his book "Crash Proof" and found it interesting.
Again I would not follow it though.

Just got an email from a friend about this guy, never heard of him before this afternoon.
Can i ask why people who followed his investment advice are losing their shirts? what did he advocate and over which periods?
thanks

 

[Kenster]

Peter Schiff is an economic advisor to Ron Paul, an US presidential candidate. Currently senator.

 

[GreatPig]

Knowing there's a problem coming and its general nature doesn't mean being able to predict every possible manifestation detail or its exact timing.

GP

 

[Piston Broke]

His advice for the last few yrs was:

-Buy gold
-Buy commodities & resources
-buy energy
-Sell USD
-Buy EUR
-Buy EU companies (for US citizens)
-Buy AUD
-Buy AUD companies (for US citizens)

He also owns a brokerage that mainly invests in EU countries

Kenster, he can be advisor to the pope for all I care, his calls were wrong.
His followers got clobbered by the markets, and clobbered again on the exchange rates.
And his preaching was all over the media, right on the peak.

here's a typical eg.
May 10, 2008
http://au.youtube.com/watch?v=iax_BsNICes

June 24, 2008
http://au.youtube.com/watch?v=dSVTRtaF

March 15, 2008
http://au.youtube.com/watch?v=T1_Yo2BGdUk

 

[oc1]

He is more well known for predicting/foreseeing the subprime mess and property collapse in the US back in 05-06. I remember seeing him numerous times on CNBC talking about this while the other hosts/guest hosts would be laughing at him. He certainly hasn't got that wrong!

The things he has mentioned does not have their fundamentals broken unlike may other things that have fallen in price.

 

[Piston Broke]

They would laugh at him because he'd been "crying wolf" and yelling "the sky is falling" since 2002, at the bottom of the market when the S&P was 800.
And when it happened in 2008, he comes out and says "I told you so".

In 2002 the market was at approx the same level it is now.
Any who followed his advice and sold short, would've lost as the market doubled!
He has no clue, and is just drumming up business for himself.

You can look for yourself.
http://finance.google.com/finance?c...770000000&chddm=491487&q=INDEXDJX:.DJI&ntsp=0

 

[boz]

I don't mind listening to Peter Schiff. But after a while he is a bit like Steve Keen and gets a bit boring. He was right about the house crash and he is right that things are getting worse.. He is expecting high inflation that is related to a fall in the US$. Not been right so far in that, but I'll monitor events on that. Deflationist point wage increase and demand to keep a lid on prices. Looking at Australia I don't see impossible to have coffee at 5$, small cars at 30k or milk and bread at 4-5$. Consumer would just buy less of them.
Anyway, I don't think P. Schiff has got a good knowledge of global market and Australia in particular, I like more Faber on that

 

[Kenster]

Kenster, he can be advisor to the pope for all I care, his calls were wrong.
His followers got clobbered by the markets, and clobbered again on the exchange rates.
And his preaching was all over the media, right on the peak.

PB,

Do you know what type of person and reputation Ron Paul is?

 

[lowell]

His advice for the last few yrs was:

-Buy gold
-Buy commodities & resources
-buy energy
-Sell USD
-Buy EUR
-Buy EU companies (for US citizens)
-Buy AUD
-Buy AUD companies (for US citizens)

He also owns a brokerage that mainly invests in EU countries

Kenster, he can be advisor to the pope for all I care, his calls were wrong.
His followers got clobbered by the markets, and clobbered again on the exchange rates.

Depending on when the advise was issued each one of those recommendations would have made tidy profits for those who invested in them and had taken profits.
Investors that stayed invested while the markets turned and failed to have adequate stop losses or risk managment have no one to blame but themselves.
As far as i can tell he was right on the money.

 

[urchin]

Peter Schiff is an economic advisor to Ron Paul, an US presidential candidate. Currently senator.

currently (and previously) representative, i think. unless something very odd has happened. not to quibble, but people don't have enough imagination to elect him senator. he would be too much fun (in the US senate you have pretty much unlimited speaking time--what a riot that would be)

 

[ok180]

His eyes wobble around in his head when he speaks.

 

[Piston Broke]

Depending on when the advise was issued each one of those recommendations would have made tidy profits for those who invested in them and had taken profits.
Investors that stayed invested while the markets turned and failed to have adequate stop losses or risk managment have no one to blame but themselves.
As far as i can tell he was right on the money.

I'm sure you can do your own research.
Look at the charts, note where the peak of oil, comodities, gold, and the bottom of the USD index is, and then lookup his TV appearances for that week on youtube.
His recommendations did not stop, his pleading for people to follow him got louder than ever.
So to say that those who followed his recs would come out good is rather naive.
Of course if you give out the same recs year after year, they're bound to be right some of the time.
But what really made him stand out as just another luzr was him saying that to others on the cable networks. Now he's just like them ie luzr lol.

And for the record, I know very well who Ron Paul is and i read his books.

 

[lowell]

I'm sure you can do your own research.
Look at the charts, note where the peak of oil, comodities, gold, and the bottom of the USD index is, and then lookup his TV appearances for that week on youtube.
His recommendations did not stop, his pleading for people to follow him got louder than ever.
So to say that those who followed his recs would come out good is rather naive.
Of course if you give out the same recs year after year, they're bound to be right some of the time.
But what really made him stand out as just another luzr was him saying that to others on the cable networks. Now he's just like them ie luzr lol.

And for the record, I know very well who Ron Paul is and i read his books.

How about you read my post again. What i said was dependent on when the advice was given there would have been an opportunity to make money on each one of those calls.
Dependent is the key word. Do i need to BOLD it.

 

[Piston Broke]

So you only follow him when he's right and discard his advice when his wrong.
Well you have never traded that stuff before, or you must be a market genius and made millions by now.

He was just like those "experts" picking the bottom of the stock market fall every week, all the down. He loudly criticised others for that (rightly), but then did the same himself.
If you consider that to be an "expert", then good for you.

 

[Oynas]

Peter tends to identify bubbles and warns people to get out of them.

When Peter identified the dot com bubble, everyone laughed at him and said he was wrong by pointing to tech stocks always going up. Then tech stocks actually crashed.

When Peter identified the property bubble, everyone laughed at him and said he was wrong by pointing to property prices always going up. Then property actually crashed.

Now Peter has identified the US dollar bubble, and everyone is laughing at him and saying he is wrong by pointing to the US dollar going up.

What will happen next?

 

[Piston Broke]

It seems for those that dont trade that stuff Schiff proclaims himself to be an expert on, he's a hero.
Those armchair experts that generally end up being the 95%.

I traded the opposite of his calls, made ~30% in a few weeks just after he said buy AUD and sell USD, sold Gold, Oil and did well there too.
He said only th US would go in recession, and the EU will prosper, so I sold EUR and bought USD anther 30% gain.
He said the rest of the world will prosper while the USD will sink, so I did all that trading with a USD funded account, bought with AUD from 85-95cents.
Without his followers there would'nt be as many Luzrs to take the other side of the trades, diminuishing my gains.
Hope he does it again some time soon.
Long Live Peter Schiff!

 

[BayView]

Pete Schiff and Steve Keane and blokes like them are actually good for all of us.

They keep us from getting too over-confident and doing something stupid.

They provide the balance needed to be an educated and successful investor.

There are today many millions of much poorer people out there because they thought the stock market and property market would do nothing but continue to go up. We know better.

The thing with these blokes is to listen, keep in mind that they are also self-serving and have agendas as well, and then make your own evaluation accordingly.

 

[boz]

It seems for those that dont trade that stuff Schiff proclaims himself to be an expert on, he's a hero.
Those armchair experts that generally end up being the 95%.

I traded the opposite of his calls, made ~30% in a few weeks just after he said buy AUD and sell USD, sold Gold, Oil and did well there too.
He said only th US would go in recession, and the EU will prosper, so I sold EUR and bought USD anther 30% gain.
He said the rest of the world will prosper while the USD will sink, so I did all that trading with a USD funded account, bought with AUD from 85-95cents.
Without his followers there would'nt be as many Luzrs to take the other side of the trades, diminuishing my gains.
Hope he does it again some time soon.
Long Live Peter Schiff!

sorry but I don't believe you, may be you can be more specific on time on your trades. Traders don't make money that way, also you don't need a USD funded account to speculate on currency. Did you also buy homes in US when Peter Schiff told you they where going to come down?