Last edited by jj-; 12-06-2012 at 03:35 PM.
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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?
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.
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.
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!
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!!!