At the horse races, it's common practice to try to BEAT THE FAVORITE.
When you find a heavy favorite (housing bubble) you want to bet against it. But you still have to pick the winner. In this case , Schiff beat the favorite but still ripped up his tickets , having backed a LOSER in the race.
WSJ Weighs in on Peter Schiff [View article]
When you find a heavy favorite (housing bubble) you want to bet against it. But you still have to pick the winner. In this case , Schiff beat the favorite but still ripped up his tickets , having backed a LOSER in the race.
Happens every day.