retired aviator

WSJ Weighs in on Peter Schiff

"Batteries!" LOL

Reminds me of when on his radio show he was replying to a caller who asked about holding US dollars and he responded that the only US money he should hold was pennies and nickels because the intrinsic value would be well above face value (cost) in the coming commodity boom.

So apparently jars of pennies are a good investment or hedge to Schiff!

What's the wife going to say when you convert tens of thousands of dollars into pennies and nickels and fill up the house with them?

For a guy who made some great calls and comes across as highly intelligent and articulate on talk shows he occasionally really makes you wonder.



On Jan 30 10:49 PM otbricki wrote:

> The Peter Schiff story is not new. Every down market gets predicted
> by some group of permabears. A broken clock is right twice a day.
> Roubini and Schiff and so on are the names this time. These people
> generate a cult following based on this call.
>
> The same permabears often run investment funds that ruin their clients;
> the permabear is only right in some macro sense. Despite the fact
> they have predicted the bear, they haven't been able to translate
> that into a benefit for their clients. That is the first warning.
> The second warning is that they start talking about not being market
> timers. Well isn't that what they claim in their macro predictions?
>
>
> Look up another well-known permabear, Joe Granville. For two-and-a-half
> decades he averaged a -20% annual performance. His seminars sometimes
> featuring a trained chimpanzee who could play Granville's theme song
> "The Bagholder's Blues," on piano.
>
> Peter Schiff had an interview on Seeking Alpha recently where he
> advised people to buy batteries to tide them through the coming economic
> collapse. That says it all for me.
>
> Batteries.
>