San Diego Housing Market News and Analysis
Mr. Doom - Peter Schiff was wrong
User Forum Topic
Submitted by Bubblesitter on February 15, 2009 - 11:26am
I know that some of you are Peter Schiff fans out there. I've enjoyed his interviews on Fox and CNBC, arguing with Realtors and Stock Market bulls. Video archives are on http://www.europac.net .However, the fact is that perennial Bear Peter Schiff has lost a bunch of his clients money in the past year.
I tend to agree that he was way too early predicting the decoupling of the world economy from the US. Everyone was hit this past year caught up in the turmoil. If you took his advice on commodites and foreign equities you would be in a world of hurt now.
He even had an editorial in WSJ "Our Investing Plan Is Right, if Slightly Ahead of the Times" to counter some bad press on his fund's returns.
Gold is perhaps his only few area he was roughly right on.
In the long run he may (unfortunately) proven right, e.g hyperinflation, collapse of bond market and continued collapse of housing. I hope he is wrong, I'm still hording gold in case his is right.
I'm just glad I didn't transfer $ over to him last year.
~Financial Market Commentary~
*Investment advisory services and securities offered through Girard Securities, Inc., member SIPC/FINRA.
~Active forum topics~
~SD Home Price Snapshot~