And he thinks we're going to DEFLATION!!! LOL! He needs to go back to school!Originally Posted by LibertyIn08
And he thinks we're going to DEFLATION!!! LOL! He needs to go back to school!
Isn't that what a businessman is supposed to do? Its not charity. Its about making money. Ayn Rand talked about shit like this. Rational self interest. Watch the movie Atlas Shrugged.
What dont you people understand? If the dollar colapses investing in anything is screwed. I wont matter if its gold, realestate, stocks, bonds etc etc. Schiff's investment phloisophy is that investing in foreign companies will save you. Guess what it wont. But hey if you wanna pay 4.5% in and high on going go for it.
^hahahahahahahha. when did RPF become a comedy club?
Last edited by jj-; 12-06-2012 at 03:35 PM.
If you want nutritional health advice for losers, go to paleohacks.com. For many, the road back to health and life starts here.
Really? So you think if the dollar collapses gold will be just as bad as treasury notes?
Come on, man.
Wrong. Schiff strategy is very similar to Ron Paul's. Schiff's mutual funds have only been created in the last couple of years. His firm has been around since the mid 90's. Those funds are a tiny amount relative to the total amount of investing Schiff has done for his clients. Are you not aware of this?
You got any links to your claim that Ron Paul outperformed Peter Schiff? I find that highly unlikely considering they have the same overall strategy.
Do you think there is going to be inflation or deflation?
You obviously haven't read any of his work (including the link I posted) in deep detail. He was arguing for short- and perhaps mid-term deflation based on the available evidence. The Fed's QE program doesn't exist in a vacuum and what other nations are doing and how the dollars of the QE program are being transferred and spent is important.
There's nothing inherently un-Austrian (at least methodologically; whether it is shared by every Austrian isn't the point) about his arguments. If you think there is, you're likely the one who needs to review the materials.
The onus isn't on me to prove that. If Peter has evidence that his clients and his funds have outperformed Mish or even the broader market index, he needs to produce them. Based on what is publicly available, that isn't the case.
Again, we know the results of Ron's portfolio and can extrapolate backwards his historical performance (with some degree of confidence). It is certainly higher than the track records of Schiff's funds available through the research services - and likewise better than the anecdotal reports listed here and on other forums of clients of Schiff's who have lost considerable sums of money through outrageously high commissions and bad equity recommendations.
Finally, whether I believe there is going to be inflation or deflation is irrelevant to whether Schiff or Mish were right over the past 3 years (Schiff was wrong), whether Schiff or Mish performed better over the last 3, 5, 7 years (Schiff performed worse, barring new evidence to be presented by him to exonerate him from his funds poor performances) and it is likely irrelevant to whether or not my portfolio is going to do well over the long run, given that my currency, precious metal and equity exposure already has accounted for the potential for either - not to mention I have the ability to change portfolio allocation dynamically.
And thankfully I won't have to spend 1-3% per position to do it.
Most economists are keynesians.
You need both skills to be a really good investor. You need to understand economics to get into the right overall strategy and you need to be good at picking individual companies. However I think it's more important to understand economics. I've done really well the last few years just by following Schiff's general strategy. I've got physical gold, gold and oil ETFs, foreign mining companies and a some other foreign based firms that pay high dividends.
Why don't you put all your money into treasuries? Shedlock says there's going to be deflation. Put you money where your mouth is!
You keep saying Schiff hasn't made any money but you haven't shown any proof. It's OBVIOUS his clients made money. Just look at gold for example. It was $300 an ounce in 2000 when Schiff recommended buying it. Plus I keep telling you that his funds are only a couple of years old and only a tiny fraction of his investing. But you keep ignoring that.
But the real evidence that you are wrong is that you keep insisting that it's IRRELEVANT whether we have DEFLATION or INFLATION for investors!!!! Are you kidding me??? I rest my case!!!
Posting Permissions
Reply With Quote