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View Full Version : Marc Faber is another Peter Schiff




Scribbler de Stebbing
02-08-2009, 11:37 AM
Faber doesn't seem to get much attention from us, perhaps because he wasn't a Ron Paul Economic Adviser. He's as good as, maybe better than, Peter Schiff. He goes back to correctly predicting the 1987 bust.

http://www.youtube.com/watch?v=UXnmeylxJig

Cowlesy
02-08-2009, 11:41 AM
Marc Faber is absolutely terrific.

ClayTrainor
02-08-2009, 12:26 PM
This is the second time i've seen him speak now. He's definitely aware of what's going on.

rockandrollsouls
02-08-2009, 12:53 PM
faber isn't that great. take it from someone who's heard alot of what he's had to say. Mish is probably the best we have...he's pinpoint accurate.

ClayTrainor
02-08-2009, 01:18 PM
faber isn't that great. take it from someone who's heard alot of what he's had to say.


You're going to have to come up with a better reason than "your word"

What, in your mind, makes faber "not that great"? I don't know much about him, other than what i heard in this video. What he says in this video is 100% truth, do you disagree?




Mish is probably the best we have...he's pinpoint accurate.

Mish doesn't even understand Peter Schiff's investment strategy and totally misrepresents it in this article (http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html)


Basically, yes, if you look at annual trends, peter schiff may have been wrong about some things but, his investment strategy is long-term, and he's not worried about the day-to-day trends as much as the "Big Picture".

Mish is a good source of information, but he is far from "pinpoint" accurate, at least in his criticism of Schiff's strategy.

rockandrollsouls
02-08-2009, 05:11 PM
You're going to have to come up with a better reason than "your word"

What, in your mind, makes faber "not that great"? I don't know much about him, other than what i heard in this video. What he says in this video is 100% truth, do you disagree?



Mish doesn't even understand Peter Schiff's investment strategy and totally misrepresents it in this article (http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html)


Basically, yes, if you look at annual trends, peter schiff may have been wrong about some things but, his investment strategy is long-term, and he's not worried about the day-to-day trends as much as the "Big Picture".

Mish is a good source of information, but he is far from "pinpoint" accurate, at least in his criticism of Schiff's strategy.

Sorry you're butt-hurt because Mish called out your god, Peter. Listen, I like Schiff alot and I think he's right on alot, but Mish is right on a lot too and he's been very good. I never said Schiff was bad, so you should check yourself before you jump the gun, kid.

Anyway, if you don't know much about Faber, why are you praising him? And, again, I didn't say he was bad, I said he's not that great. He's swayed from time to time.

Calm your horses :rolleyes:

By the way, I agreed with Faber on picking up some industrial commodity companies for the bounce.

Cap'n Crunk
02-08-2009, 08:19 PM
Faber is awesome. He's part of Barron's round table discussion every year and he's been pretty damn accurate. His 2008 plays were
Short the British pound/Buy the Yen
Short the Euro/Buy the Yen
Buy the U.S. Dollar/Sell the Euro
Buy: ProShares Short MSCI Emerging Mkt.
Short: iShares FTSE/Xinhua China 25 Idx
Buy: ProShares UltraSht FTSE/Xinhua China 25
Buy: iShares MSCI Japan Small Cap
Short: DryShips.

Young Paleocon
02-08-2009, 08:28 PM
Marc Faber, Jim Rogers, and Peter Schiff are my trio for economic advice. Besides RP of course.

Unspun
02-08-2009, 09:18 PM
Marc Faber, Jim Rogers, and Peter Schiff are my trio for economic advice. Besides RP of course.
I like George Celente as well.

dannno
02-08-2009, 09:36 PM
Sorry you're butt-hurt because Mish called out your god, Peter. Listen, I like Schiff alot and I think he's right on alot, but Mish is right on a lot too and he's been very good. I never said Schiff was bad, so you should check yourself before you jump the gun, kid.

Anyway, if you don't know much about Faber, why are you praising him? And, again, I didn't say he was bad, I said he's not that great. He's swayed from time to time.

Calm your horses :rolleyes:

By the way, I agreed with Faber on picking up some industrial commodity companies for the bounce.

The reason I don't have any interest in Mish is because of his fan's poor reading comprehension and understanding of the economy in broad terms.

ClayTrainor
02-08-2009, 10:02 PM
Sorry you're butt-hurt because Mish called out your god, Peter.


Not at all, i just think Mish was wrong in his analysis of Schiff's investment strategy.

I'm curios to hear why you say Faber "isn't that great", as i truly don't know much about the man.





I never said Schiff was bad, so you should check yourself before you jump the gun, kid.


I never said you said Schiff was bad. I think you jumped my own gun for me :p



Anyway, if you don't know much about Faber, why are you praising him? And, again, I didn't say he was bad, I said he's not that great. He's swayed from time to time.



I didn't praise him, i simply said i agree with him in this video as he seems to understand what's going on. I admitted i barely know who he is, and i'm trying to get you to tell me why "he isn't so great", as you stated before, as I personally have no opinion about the man, other than what i see in this video.




Calm your horses :rolleyes:

By the way, I agreed with Faber on picking up some industrial commodity companies for the bounce.

Totally calm... not sure why you think i'm strung-out or something?

Why is faber "not that great"?

rockandrollsouls
02-08-2009, 10:11 PM
I like George Celente as well.

It's Gerald Celente and he's not an economist. :rolleyes: The majority of you guys here just like anyone who mentions "Ron Paul."

And, I told you why I don't think Faber is that great. He sways his opinion from time to time and he had one big prediction and people started worshiping him.

He's good, but people here tend to overdo it when they find someone good. They worship him, and defend him to the death even if they are wrong...well...like you just did Claytrainor ;)

Young Paleocon
02-08-2009, 10:29 PM
It's Gerald Celente and he's not an economist. The majority of you guys here just like anyone who mentions "Ron Paul."

And, I told you why I don't think Faber is that great. He sways his opinion from time to time and he had one big prediction and people started worshiping him.

He's good, but people here tend to overdo it when they find someone good. They worship him, and defend him to the death even if they are wrong...well...like you just did Claytrainor

Not true as far as I'm concerned. Rogers, Faber, and Schiff are all long commodities, like gold or agriculture, short the dollar, and pro Swiss Franc/Jap Yen/ Chinese Yuan. They are also invested in many other things but these are the plays i pay attention to. These are all smart as far as I'm concerned as is buying oil. I also believe we are in for some serious inflation in the next couple of years, along with high interest rates and foreigners rejecting our massive deficits.

rockandrollsouls
02-08-2009, 10:38 PM
Not true as far as I'm concerned. Rogers, Faber, and Schiff are all long commodities, like gold or agriculture, short the dollar, and pro Swiss Franc/Jap Yen/ Chinese Yuan. They are also invested in many other things but these are the plays i pay attention to. These are all smart as far as I'm concerned as is buying oil. I also believe we are in for some serious inflation in the next couple of years, along with high interest rates and foreigners rejecting our massive deficits.

Mish has a word for you on inflation...go read his blog :rolleyes: Also, Faber is not short the dollar. He hasn't said once to short it....so it sounds like you're making blanket statements from things people mention here. He believes if we continue to print money like crazy it could lead to problems in the future, but it's not a play right now. Faber likes gold and oil and that's pretty much it, but you must also recognize he believes we need more regulation (of course no one here mentions that, though.) Anyway, continuing, they are completely different. Peter loves foreign markets and Faber thinks the global scene is a deathtrap right now so you may want to do your research instead of saying these guys are all similar because it's simply not the case. :rolleyes:

Young Paleocon
02-08-2009, 10:54 PM
Granted I misspoke when I said all of the same portfolios but they do share a common view in the future as well as a common view regarding the fed and federal intervention into markets. I've watched videos of all of them. I do have to say that the immature way you cast condescending attitudes on people in defense of Mish is a little disturbing considering you are disparaging people who favor Schiff, yet you do let on the Mish can't be wrong. I think inflation is going to be a problem. If nobody excepts our debt, the fed keeps rates at near 0, and we have to monetize debt to cover the losses it will be an inflationary environment. Not in all asset classes. Some prices will still be deflating. But the dollar could easily go to junk bond status if this false sense of confidence in it falls through the floor.

rockandrollsouls
02-08-2009, 10:57 PM
Granted I misspoke when I said all of the same portfolios but they do share a common view in the future as well as a common view regarding the fed and federal intervention into markets. I've watched videos of all of them. I do have to say that the immature way you cast condescending attitudes on people in defense of Mish is a little disturbing considering you are disparaging people who favor Schiff, yet you do let on the Mish can't be wrong. I think inflation is going to be a problem. If nobody excepts our debt, the fed keeps rates at near 0, and we have to monetize debt to cover the losses it will be an inflationary environment. Not in all asset classes. Some prices will still be inflating. But the dollar could easily go to junk bond status if this false sense of confidence in it falls through the floor.

First and foremost, if you read my prior posts I've always said I liked Schiff and Misch, so I don't know why you think I have bias. I just think it's ridiculous people here will try to discredit Mish just because he doesn't agree with Peter 100%.

Secondly, they don't all support non-intervention in the market. If you read my last post, you'd know Faber supports regulation in the markets. He's even suggested the government guarantee the deposits of those using private banks.

Young Paleocon
02-08-2009, 11:00 PM
Yes, Faber doesn't take a strict Austrian view, but he is still right on many fronts.

rockandrollsouls
02-08-2009, 11:01 PM
Yes, Faber doesn't take a strict Austrian view, but he is still right on many fronts.

Which is what I said until you kept flip flopping and trying to tell me what I said and what his views were :rolleyes:

Young Paleocon
02-08-2009, 11:07 PM
Still doing that smirky little prick shit aren't you lol. The federal intervention i was talking about wasn't necessarily regarding the FDIC, but rather in this recession, or regarding the FED. Yes, I do realize that the FDIC or other guarantees are interventions, but not what I had on my mind.

rockandrollsouls
02-08-2009, 11:11 PM
Still doing that smirky little prick shit aren't you lol. The federal intervention i was talking about wasn't necessarily regarding the FDIC, but rather in this recession, or regarding the FED. Yes, I do realize that the FDIC or other guarantees are interventions, but not what I had on my mind.

Are you going to stop with the insults and stop trying to manipulate things that are fact? You made a blanket statement. It was wrong. You tried to save yourself. That was wrong. Obviously you can't take being wrong or something, but it's not an excuse to spread misinformation. You're trying to personally attack me because of it even though I'm completely unbiased, and it's ridiculous. End it buddy...come on now.

Young Paleocon
02-08-2009, 11:13 PM
I admitted i was wrong regarding Faber, I just can't stand you're condescending attitude. Okay Pal? You cant debate somebody without trying to belittle them.

rockandrollsouls
02-08-2009, 11:16 PM
I admitted i was wrong regarding Faber, I just can't stand you're condescending attitude. Okay Pal? You cant debate somebody without trying to belittle them.

I'm not debating or belittling you, nor do I have a condescending attitude. I corrected you and you took it upon yourself to start with the name calling. Give it rest...gees.

Young Paleocon
02-08-2009, 11:21 PM
All right I might have misread you, just puts off a condescending attitude when you end ever other sentence with an emote rolling it's eyes and smirking. Maybe the emote just pisses me off.

ClayTrainor
02-08-2009, 11:26 PM
They worship him, and defend him to the death even if they are wrong...well...like you just did Claytrainor ;)

Thanks for ignoring the entire purpose of my post, and trying to make it look like i have a boner for Schiff or something.


I'm asking you to tell my why "Faber ain't that great". I've asked in every single post directed to you so far, and you keep dancing around it.

I haven't really been defending peter schiff at all, but since you constantly bring it up...

Mish is clearly jealous, and you can see it in this response written by none other than himself.



" There are a lot of things I know were told to the WSJ such as him encouraging people to borrow against their homes to invest in Europac.

Imagine expecting home prices to decline and suggesting people borrow against their houses.


When you run a non-stop publicity campaign bragging you were right, when you weren't I consider than misleading at best. At best.

Had he not been bragging every week about being right, I could care less about what he did or said. And lots of people I highly respect, congratulated me for what I did.

His article against Schiff, while it had some truth to it, was an obvious smear attack. Peter's investment strategy has been long-term, and it's easy to find flaws if you look at short-term trends like Mish did, and does.

It's a different perspective, and I respect Mish's opinion as well as Schiff's, but in this particular case... I think it's obvious that Schiff didn't hurt anyone too badly, as both of his investment strategies and predictions have been fairly sound and accurate.


I've got absolutely nothing against you whatsoever, but you're really coming accross as a bit of a douche to me in this thread.

The majority of people on this board do like schiff and stand by him. You are part of the "cool crowd" by defying schiff, and acting like you know something the rest of us don't. You're entitled to your opinon, but there's no reason to condescend like you do.

Cap'n Crunk
02-08-2009, 11:32 PM
Peter loves foreign markets and Faber thinks the global scene is a deathtrap right now so you may want to do your research instead of saying these guys are all similar because it's simply not the case. :rolleyes:

Faber thinks the global scene is a death trap? It's true Faber was very bearish on foreign markets last year, but most of his picks this year are foreign companies. Seems like you need to do some research.

ClayTrainor
02-08-2009, 11:33 PM
I'm not debating or belittling you, nor do I have a condescending attitude. I corrected you and you took it upon yourself to start with the name calling. Give it rest...gees.

I agree with paleo... you do appear to have a bit of a condescending attitude, tonight.

rockandrollsouls
02-08-2009, 11:51 PM
Faber thinks the global scene is a death trap? It's true Faber was very bearish on foreign markets last year, but most of his picks this year are foreign companies. Seems like you need to do some research.

Really, because I have a video from a few days ago and videos from various points in 2009 where he is staying away from foreign securities. He has said the emerging markets have been depressed so far that a recovery could be more spectacular there than in the US, but from what I've heard him say personally is he likes gold, the miners and exploration companies, and some oil.

And, Clay, if you'd read, I said he's not that great because he sways his opinion on occasion. He's not a staunch Austrian. He likes regulation in the market, which I happen to think is the same as the intervention he preaches against.

Again, not saying he's bad, but he's not the be all end all.

And by the way, I'm not being condescending. I stated my opinion on the mentioned economists and I've stated the facts on what they have said. I'm not the one that's resorted to personal insults here :rolleyes:

ClayTrainor
02-09-2009, 12:13 AM
And, Clay, if you'd read, I said he's not that great because he sways his opinion on occasion. He's not a staunch Austrian. He likes regulation in the market, which I happen to think is the same as the intervention he preaches against.


And i never diagreed with this. I disagreed with Mish's criticism of Peter's brokerage firms investment strategy.



Again, not saying he's bad, but he's not the be all end all.


you keep implying that i get 100% of my investment advice from peter.




And by the way, I'm not being condescending.

Just because you say so, doesn't make it true.

Nearly Every single post you make to me or Paleo, ends with a rolling eyes icon, yet you think you don't have a condescending attitude at all.


Some quotes from your earlier posts


"Sorry you're butt-hurt because Mish called out your god, Peter"

"They worship him, and defend him to the death even if they are wrong...well...like you just did Claytrainor"

How did i defend him to the death?

You also said:

"Anyway, if you don't know much about Faber, why are you praising him?"

Which shows you didn't even read what i wrote. I never once praised Faber, except for the fact that i agreed with him in this video. Your acting like i think of these guys like Jesus or something.

I only got defensive after you consistently kept bringing up the Peter Schiff vs. Mish argument, while basically implying that i am nothign more than a mindless follower, when all i was asking is.

"Why is mark faber not so good?"





I'm not the one that's resorted to personal insults here :rolleyes:

I didn't resort to them either. I didn't call you anything, i said you're acting like a bit of a douche in this thread, and you are. I've always got along with you before, and we've both been members here for a while without conflicts.

We're clearly on the same team, i do not intend to insult, but you are most definitely being condescending in this thread.

rockandrollsouls
02-09-2009, 12:28 AM
And i never diagreed with this. I disagreed with Mish's criticism of Peter's brokerage firms investment strategy.



you keep implying that i get 100% of my investment advice from peter.




Just because you say so, doesn't make it true.

Nearly Every single post you make to me or Paleo, ends with a rolling eyes icon, yet you think you don't have a condescending attitude at all.


Some quotes from your earlier posts


"Sorry you're butt-hurt because Mish called out your god, Peter"

"They worship him, and defend him to the death even if they are wrong...well...like you just did Claytrainor"

How did i defend him to the death?

You also said:

"Anyway, if you don't know much about Faber, why are you praising him?"

Which shows you didn't even read what i wrote. I never once praised Faber, except for the fact that i agreed with him in this video. Your acting like i think of these guys like Jesus or something.

I only got defensive after you consistently kept bringing up the Peter Schiff vs. Mish argument, while basically implying that i am nothign more than a mindless follower, when all i was asking is.

"Why is mark faber not so good?"






I didn't resort to them either. I didn't call you anything, i said you're acting like a bit of a douche in this thread, and you are. I've always got along with you before, and we've both been members here for a while without conflicts.

We're clearly on the same team, i do not intend to insult, but you are most definitely being condescending in this thread.

You and paleo find it necessary to try and jump on me when neither or you invest or know much about Faber and I'm just stating the facts. You just called me a douch and paleo called me a prick. It's really ridiculous. You might want to take a step back and put things into perspective.

Saying you're overreacting by jumping to Schiff's defense isn't an insult. :rolleyes: You were, you were wrong, and Paleo was wrong. Mish is entirely credible, as are Schiff and Faber. However, Schiff didn't see what Mish saw coming and Faber isn't a staunch Austrian. That's a fact, and if you think I'm "condescending" for pointing it out, so be it. I'm not here to convince kids that argue for the sake of arguing that I'm right. I'm stating the facts as an investor that has made money listening to these guys as well as one that's well versed himself and follows them and the markets like a hawk.

It's like, you guys think I bullshit you for the sake of bullshitting you and that's not how it is. :rolleyes:

reduen
02-09-2009, 01:44 AM
Not to butt in or anything .... (ok, yeah I am) :D

As a third party witness here, rockandroll drew first blood...:(

Sorry R&R you are being a little rude to say the least...

Future reference:

:rolleyes: = sarcastic and condescending and patronizing and belittling etc..! :eek:

reduen
02-09-2009, 01:46 AM
By the way, thank you Scribbler for pointing this guy out....:)

Join The Paul Side
02-09-2009, 01:59 AM
Mish blows.

eric_cartman
02-09-2009, 04:22 AM
faber is awesome. he will be a featured guest on next week's financial sense news hour

Scribbler de Stebbing
02-09-2009, 09:27 AM
By the way, thank you Scribbler for pointing this guy out....:)

I've just seen two videos of the guy, and agree with what I've heard. He's credited with correctly predicting the '87 bust. I still don't see anything concrete from his detractors beyond some "Mish" rivalry, which appears to be directed more at Schiff, whom I also like while understanding he's human. So barring any horrific revelations, I continue to be a Faber fan.

Jeremy
02-09-2009, 09:30 AM
kind of reminds me more of Jim Rogers than Schiff

idk why =p

TonySutton
02-09-2009, 10:35 AM
Good article and video of Faber from June.

http://www.cnbc.com/id/25406894

voytechs
02-09-2009, 10:57 AM
Check out Marc Faber's predictions about the economy in 2005:

http://www.gloomboomdoom.com/subscribers/download/051009.pdf

rockandrollsouls
02-09-2009, 11:36 AM
Not to butt in or anything .... (ok, yeah I am) :D

As a third party witness here, rockandroll drew first blood...:(

Sorry R&R you are being a little rude to say the least...

Future reference:

:rolleyes: = sarcastic and condescending and patronizing and belittling etc..! :eek:

Sorry, but you're wrong. Stating my opinion isn't drawing first blood, and I'm not the one that made any personal insults. Go double check, buddy. Clay and Paleo did.

Anyway, Mish doesn't blow, he's been phenomenal. You can't argue with someone that's been that right. Again, I'm sorry some of you can't handle it because you worship Schiff because he says "Ron Paul," but it's true. I like Schiff a alot too, but Mish has been pin point accurate.

And by the way, there are about 100 threads on Faber already. Search function, anyone?