Schiff has a response to his critics up at Taki. An excerpt is below. A link to the entire thing is also provided. I don’t know, I can’t help but recall all the times he was shouted down and laughed at over some of his predictions. I’ll wait and see how his investment stragety plays out over a longer term as this economic enviroment continues to evolve (or, devolve?). I’m too ignorant to form my own opinion, but he seems to liven things up!
…Mainstream economists, journalists, and investment professionals have never liked my message and have never resisted the temptation to shoot the messenger. When my investment strategies were performing well, I got little credit for it. Instead, all the attention was focused on the apparent failure of my dire economic predictions to materialize. Now that the economy is collapsing along the lines that I correctly forecast, criticism is being focused on the recent poor performance of my investment strategy (a fact that I have never tried to hide). Of course by the time my investment strategy is once again in step with my economic forecasts, an event that I believe will occur sooner than most people think, it will likely be too late for most people to do adopt it…
[quote]DrSkeptix wrote:
Gregus wrote:
he is smart. But smart in what sense? He’s very smart in his investments and promoting his business. Everyone in the finance field speaks with an Agenda. Everyone! No Exceptions! Ever!
So if he is so smart, why aren’t his clients rich?
The pot with only one bean in it makes a loud sound.[/quote]
Being smart doesn’t enable anyone to predict the market with any amount of precision. In the long run he is still correct about the direction of the dollar…there is only one way for it to go at the rate it is being printed.
Besides, getting rich? Most people just want to have an income when they retire.
[quote]LIFTICVSMAXIMVS wrote:
DrSkeptix wrote:
Gregus wrote:
he is smart. But smart in what sense? He’s very smart in his investments and promoting his business. Everyone in the finance field speaks with an Agenda. Everyone! No Exceptions! Ever!
So if he is so smart, why aren’t his clients rich?
The pot with only one bean in it makes a loud sound.
Being smart doesn’t enable anyone to predict the market with any amount of precision. In the long run he is still correct about the direction of the dollar…there is only one way for it to go at the rate it is being printed.
Besides, getting rich? Most people just want to have an income when they retire.[/quote]
“get rich when they retire?” THis is something that has been denied to some of Mr Schiff’s disciples (Read the article)
If he is a catastrophist, he will look like a prophet in a catastrophe.
But if he is only a catastrophist, he will make noise and not be helpful in any other situation.
[quote]DrSkeptix wrote:
LIFTICVSMAXIMVS wrote:
DrSkeptix wrote:
Gregus wrote:
he is smart. But smart in what sense? He’s very smart in his investments and promoting his business. Everyone in the finance field speaks with an Agenda. Everyone! No Exceptions! Ever!
So if he is so smart, why aren’t his clients rich?
The pot with only one bean in it makes a loud sound.
Being smart doesn’t enable anyone to predict the market with any amount of precision. In the long run he is still correct about the direction of the dollar…there is only one way for it to go at the rate it is being printed.
Besides, getting rich? Most people just want to have an income when they retire.
“get rich when they retire?” THis is something that has been denied to some of Mr Schiff’s disciples (Read the article)
If he is a catastrophist, he will look like a prophet in a catastrophe.
But if he is only a catastrophist, he will make noise and not be helpful in any other situation.
[/quote]
It will be a long time before we will be able to see how that works out.
Until then, he was right and the mainstream was not.