I don't understand why so many of you are defending Schiff and turning a blind eye to his terrible strategy. Many of his investors are down 50+% since the crash.
He was correct in calling the crash, but he was totally wrong as to how to invest following the crash. He thought there was gonna be huge inflation and not the deflation that we're going through.
Here's an article he wrote in December 2007 regarding why deflation won't happen after the crash. (remember, this is 8 months before the crash).
http://www.safehaven.com/article-9083.htm
Now here is Mish responding to his article. Basically, everything Mish outlines was correct while everything Peter said came out wrong:
http://globaleconomicanalysis.blogsp...-rebuttal.html
Then Peter Schiff responds to Mish's piece. Again, he's totally wrong while Mish is correct.
http://globaleconomicanalysis.blogsp...deflation.html
Remember, these articles were written over a year ago and before the crash. The point of following Schiff in the first place was so you could profit from the crash, not be worse off than the average investor.
Sorry to burst your bubbles, but Mish IS correct now and he was correct back then. Don't try to sugar-coat it.
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