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Friday, February 13, 2009
Peter Schiff on Canada's economic outlook and advice for an Alberta investor
We've written before at the Shotgun Blog about Peter Schiff, an investment advisor now well-known for his predictions over the last few years about the US housing market collapse, the banking crash, and the present recession.
In this clip he shares some thoughts with an Albertan caller to his online radio show about the prospects for the Canadian dollar and advice for his investments:
Posted by Kalim Kassam on February 13, 2009 | Permalink
Comments
I always listen to Schiff's Wednesday podcast. It's excellent. I plan to open an account with his firm.
Posted by: Matthew Johnston | 2009-02-13 4:49:49 PM
I plan to open an account with his firm.
Posted by: Matthew Johnston | 2009-02-13 4:49:49 PM
You do know that Euro Pacific Capital was down 40 % -70% last year depending on what you held. Peter Schiff likes to talk the talk but does what he say really hold up to analysis?
Peter Schiff was :
* Wrong about hyperinflation
* Wrong about the dollar
* Wrong about commodities except for gold
* Wrong about foreign currencies except for the Yen
* Wrong about foreign equities
* Wrong in timing
* Wrong in risk management
* Wrong in buy and hold thesis
* Wrong on decoupling
* Wrong on China
* Wrong on US treasuries
* Wrong on interest rates, both foreign and domestic
Posted by: The Stig | 2009-02-14 1:02:10 PM
I think he's wrong on commercial real estate as well. There'll be a delayed reaction in that market. It's gonna take time for retail business to go under, but when they do there'll be vacancies everywhere. If that caller took his advice, he'd unload his residential properties at a loss, then buy commercial property just before it starts to slide. I'm no genius in finance, but that sounds like poor advice to me.
Posted by: dp | 2009-02-14 1:51:22 PM
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