Too bad Peter has absolutely no idea about trading and risk management <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/9kW64YYcUso&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/9kW64YYcUso&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
i used to think this guy was gay. now i just think he's wierd looking. not nearly as wierd as that idiot gary smith who calls himself "the chartman"..what a johe. Schiff has balls,i like that. at least he stuck by his convictions.i also like that. he was right,i also like that.
ART Laffer is a fag and totally wrong. he owes this guy Schiff an apology or at least admit he was right. Schiff is'nt one of the wall street fags who tries to make a name for themselves with an outlandish call hoping they were right. Schiff made educated and well thought of reasons. he was spot fuckin on. so was jim rogers. i am a tough guy, a handsome guy,and a street wise mofo. i thrive on that but yet i am resonable and humble and also compassionate. this guy Schiff was right.
i don't like what i just heard. Schiff is saying the world is gonna fall and he was right but yet he puts clients in dividend paying stocks! what the fuck is that all about. if i made that dire a prediction my clients would all be in cash. i may have to re evaluate.,
You need to read his book Crash Proof to hear his reasoning. He just wants to get out of the US dollar. He really didn't know for sure when the shit would hit the fan so he advised his clients to buy divident paying, non multinational, foreign companies. He didn't want his clients in cash not earning a dividend in case his prediction was premature. These were the safest companies in his opinion. He is convinced there is no way out of this without the dollar falling significantly however. He admitted in interviews that he was caught off guard by the dollar's rally and that is the reason for the lousy performance of his recommendations. Download Crash Proof on your Ipod. It is a good listen but 7 hours long.
Peter Schiff is right, but don't base short term trades on his analysis. Just like cancer everything takes time to process. If you have cancer that can't be cured, its all a matter of time. The inevitable is there, its just the time factor that dictates. A doctor may tell you 3 months and you could live 3 years.