San Diego Housing Bubble News and Analysis

meadandale,

While Schiff has been right about a number of things, he has also been terribly wrong about some other things. From what I have heard, those who have invested with him through Euro Pacific Capital have had more losses than profits. Not that past performance is that good of an indicator of future performance. But look closely at this before moving money into any investment.

XBoxBoy

How well has EuroPacific done against it's competitors?

I use them. I recall1 month with a decent profit however the market was up and rising tides ...as they say.
I have been meaning to check my statements to see how I'm doing now lately. I do not keep all my funds with one firm. I like to spread it around despite what any "financial advisor" may say to the contrary.
Make sure you have one of their managers service your acct. these people get too busy and some mistakes get made. But, unlike schwab they are small enough to correct them when possible - you gotta catch though.
schwab made a terrible mistake on my acct. could not get it corrected. then they made it hard to get my money out. I don't like that.
Schiff was too early with his predictions of the falling dollar and some investors suffered.
It's all gambling as far as I'm concerned.

Meadandale, I just closed my account with Euro Pacific because I was so disappointed with the performance of the investments that they placed me in. In summary I think Peter has a great big picture view, but his organization was horrible in picking individual stocks for my portfolio. To underscore how horrible they were, one of the investments they suggested suffered an 85% loss in about 9 months. I spoke with them at length in July 2009 about this stock and they told me it was still on their recommended list. In September 2009 I decided to close the account and I instructed them to sell all my positions. The broker had to call and tell me he could not sell out of this position because the stock had been delisted back in May 2009. They either did not know in July that the stock had been delisted 2 months earlier or they lied to me about it still being on their recommended list. I felt I was lucky to get my money back from them after "only" a 22% loss in one year.

Yikes! I really better take a close look at my statements tomorrow.

Unhappy EuroPac customer

Though I'm happy to have found this old thread. I would appreciate hearing from other Euro Pacific clients before I make a decision.

I'm considering closing my account. I've lost about 14%. Many of my individual equities are down 40 - 85% (one went belly up altogether.) I'm lucky the precious metal holdings shored it up. I never hear from my broker.

It's surprising there's so few comments anywhere on the net from their clients, unless I'm one of the disgruntled minority :-(

pritter, I appreciate the information in your post back in October. I'm going to decide whether or not to pull out of there this week.

I believe Mish has done some comparitive analysis against Schiff's portfolios. Of Course Mish is biased too having is on "Pacific" company.

I was a big fan of Schiffs but he was dead wrong about the decoupling effect of our economy vs china's.

So he has not called the game better than some.

CE

Mandy, I have read about some other unhappy investors with them so I don't think we are alone. The only thing that saved me from an even worse loss was that I insisted they allocate some of my funds to bonds which actually held up well. The equity portion of my portfolio, that were all their recommendations, was down something like 40%. The final straw for me was when I suggested selling out of one stock they had me in since I had read a news item about the company that I thought was pretty bad news. I got distracted and didn't follow up with my broker for a week and next time I looked the stock had dropped 20% in one week! I decided that they really were not paying attention to my investments. Do you mind telling me which investment went belly up? Was it Great Southern?

It was indeed!

My portfolio was down about 60% at one point. I don't think my nerves could take it happening again (with all the discussion of a possible double dip recession.)

We've been talking about Schiff and Europacific capital for years. It's kool-aid, it's just a different flavor.

http://piggington.com/hilarious_videopet...

http://piggington.com/peter_schiff_on_th...

http://piggington.com/mr_doom_peter_schi...

I searched my own comments going back to 2007, I liked some of things he said back then, but other piggies punched holes in his theories, going back years. As the years rolled on, he lost his shine, little by little.

Schiff and Euro Pac is alot like when I am at the pub and I've had a few too many. Then I notice a woman with some incredible cleavage, I'm hypnotized because it's what my mind wants in my current state. I generally regret it later when my state of mind returns to normal and I learn about the rest of package. If you are angry with the U.S., if you are disenfranshised a little, his words ring true. Later you see the reality when your statement arrives.

It doesn't mean you are a bad person or a dumb person because you believe a pitchman, nor does it make me a bad or dumb person because I have a penchant for voluptuous women, it is what it is, just learn from it and try to be smarter then next time, or just find peace in your own weaknesses.

Not that I'm a EuroPac subscriber. But I'm just curious with all the folks who have invested. Would your portfolio have been better or worse if you invested here...let's say compared to the S&P. His main thesis is to short the dollar and go long gold. Which seems to be the right call for now. But as I notice this thread started during the peak of the collapse. And the way I see it...The S&P is still less than 50% from it's peak in 2007. I do agree with a lot of what Schiff preaches. But his timing is the real key. And it does suck. But just curious if all the people who are unsatisfied would be doing better if they invested here compared to Europac.