kozanack

WSJ Weighs in on Peter Schiff

You are in complete denial if you think Peter Schiff was "right," but still managed to have greater losses than people who were "wrong." The truth is, only a portion of what he predicted was correct. If Schiff was anywhere close to being "mostly right," even a nominal investor would have come out okay following his advice. Instead, those following his recommendations suffered crushing losses. Losses much worse than the typical buy-and-hold investor. To put it in perspective, if his clients make an 8% return on their investments, it'll take them something like 14 years to recover their losses. The average buy and hold investor will require about 9 years. Doesn't sound like he was right about much.