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25. February 2009 at 4:06 am
Great to see Jim Take a shot a Roubini. I wish he took a shot at Schiff. Its one thing to see the crisis coming, but another thing to sidestep and profit from it.
http://online.wsj.com/article/SB123327685671031439.html
25. February 2009 at 4:40 am
Absolutely Alex.
25. February 2009 at 5:35 am
that comment about schiff isn’t really fair. jim rogers himself said that his portfolio would have suffered severly if it wasn’t for shortselling of the US markets.
schiff’s mainly in the business of selling stocks, not shorting the US.
25. February 2009 at 10:37 pm
Sorry Stefan but I happen to agree with Alex – Schiff did a horrible job of protecting his clients money – and IMO – that is the first thing a money manager needs to do. I mean – to think the $USD was simply going to evaporate to oblivion was and is ridiculous – markets just do not work that way – regardless, you still need dollars! Despite what Jim Rogers says publicly, I can virtually guarantee you that he hedged his long commodity positions buy shorting oil or perhaps gold. Rogers won’t say that – that would suggest he was selling commodities, but the man has been around a long time and understood that a strengthening dollar (he did predict a dollar rally) and a severe recession (he did predict a severe recession) would most definitely pummel oil and gold and all leveraged commodities….
25. February 2009 at 11:02 pm
“schiff’s mainly in the business of selling stocks, not shorting the US”
Wow. Lets imagine I knew ahead of time someone was going to rob a bank (bernanke,paulson,geitner etc..) I go on TV, write a book telling the whole world they are going to rob a bank. Then BAM the bank is robbed. Afterward, the news stations flood me with phone calls as to how did I know and what bank is going to get hit next? I give them a list of possible hits and tell everyone “just wait you will see”. I look like a genius right?
Wrong!! While I was on tv, selling books, I NEVR called the cops!!!! Peter Schiff’s clients never made one penny. They lost. In my poor example, Jim Rogers made money, he called the cops and in return was paid a reward.
26. February 2009 at 6:40 am
so what? I couldn’t care less if schiff’s clients made money.
he runs a business which sells foreign stocks. if you went to peter schiff’s company you wanted to buy foreign stocks, and so he did.
you don’t blame wal-mart for selling you cheap chinese stuff.
I still think his analysis is interesting, and so does jim rogers as he often said.
btw, I was mainly in cash during the crash, partly because schiff does make a huge mistake in that he assumes his scenario would play out at one single moment in time, which indeed is ridiculous.