Recently by Peter Schiff: Japan Intervenes to Bail Out America.com
Peter Schiff is the President of Euro Pacific Capital Inc., frequent commentator on the financial media, one time Republican candidate for the US Senate (Connecticut), gold bug and general bear on the stock market.
The Little Book of Bul...
Best Price: $1.25
Buy New $13.66
(as of 12:00 UTC - Details)
Remember the scene in Stephen King’s Carrie where the phrase “They’re all gonna laugh at you” was repeated over and over again? I imagine this is how Peter Schiff feels. A clip has been circulating on YouTube showing Peter circa 2006 explaining to the talking heads on CNBC/Fox News/CNN etc. that (at that time) the low savings rate would lead to a decline in consumption followed by a crash in home prices and ultimately a recession. The talking heads laughed at Peter (go to 3M40Sand 6M10S in the clip). Despite this laughter, and with few listening, Schiff continued to defend his point of view. We have seen, through the Great Recession, that Peter was dead on.
The Little Book of Bull Moves CoverYou would expect, as the saying goes, he who laughs last laughs best; that Peter would have had the last laugh. Yet during a recent CNBC interview Peter was laughed at again. With the 2006 clip in mind, I thought that it may be time to revisit Peter’s thoughts process. For this reason I picked up The Little Book of Bull Moves In Bear Markets: How To Keep Your Portfolio Up When The Market Is Down, published by Wiley Press originally in 2008, but updated and expanded for 2010 (the title of the 2010 edition drops the “In Bear Markets,” but I don’t think we should take anything from that).
Peter Schiff is president of Euro Pacific Capital and author of The Little Book of Bull Moves in Bear Markets and Crash Proof: How to Profit from the Coming Economic Collapse. His latest book is How an Economy Grows and Why It Crashes.
