Gyroscopic Investing

My heart goes out to ya buddy.
http://youtu.be/pj-1b1Yvep8

Peter Schiff welcomes a group of prospective clients to his office.

Corrected the link error.

I am informed that today is in fact the actual anniversary of the Titanic disaster as well as a number of other famous catastrophes. My little shot at Peter Schiff was intended to be humorous and I was unaware of the coincidence in the date. No disrespect to those who died in the shipwreck was intended.

Ad Orientem wrote: I am informed that today is in fact the actual anniversary of the Titanic disaster as well as a number of other famous catastrophes. My little shot at Peter Schiff was intended to be humorous and I was unaware of the coincidence in the date. No disrespect to those who died in the shipwreck was intended.

I'm sure they would appreciate being remembered at all.

Forget Peter Schiff, where's Kshartle? I think his portfolio is 50/50 stocks and gold. Today must be pretty rough for him.

Peter Schiff had at least 50% in gold and silver and alot of his stocks were in the mining sector. The guy I would like to track down is poor John Nadler. I don't know where he is but I certainly couldn't blame the analyst who got canned by Kitco for warning that gold was overbought if he sent them a fax of his hand giving the Bronx Salute.

I died in the titanic.  I can't speak for other passengers, but I was not offended by your joke.

Pointedstick wrote: Forget Peter Schiff, where's Kshartle? I think his portfolio is 50/50 stocks and gold. Today must be pretty rough for him.

I'm about 50/50 Stocks and Gold as well.  The 10% drop doesn't really bother me.  I used the opportunity to pick up some $1350 Gold.

systemskeptic wrote:

Pointedstick wrote: Forget Peter Schiff, where's Kshartle? I think his portfolio is 50/50 stocks and gold. Today must be pretty rough for him.

I'm about 50/50 Stocks and Gold as well.  The 10% drop doesn't really bother me.  I used the opportunity to pick up some $1350 Gold.

system,

Have you come to terms with a "breaking point" at which you will really start to worry about your strategy?

moda0306 wrote:

systemskeptic wrote:

Pointedstick wrote: Forget Peter Schiff, where's Kshartle? I think his portfolio is 50/50 stocks and gold. Today must be pretty rough for him.

I'm about 50/50 Stocks and Gold as well.  The 10% drop doesn't really bother me.  I used the opportunity to pick up some $1350 Gold.

system,

Have you come to terms with a "breaking point" at which you will really start to worry about your strategy?

If it ever hit that breaking point, I'm not sure that would be a time to exit the strategy anyways.  It seems to make sense conceptually, it backtests well historically, it's simple and has low costs, and it matches my future expectations for where I see the world going with the level of information I currently have.  Not sure what else I can do, but I feel pretty good regardless of where the world goes (depression, recession, inflation, deflation, prosperity, repression, default)

If I come across additional information, I could change my perspective but it seems good so far.

Ad Orientem wrote: I am informed that today is in fact the actual anniversary of the Titanic disaster as well as a number of other famous catastrophes. My little shot at Peter Schiff was intended to be humorous and I was unaware of the coincidence in the date. No disrespect to those who died in the shipwreck was intended.

It's also the anniversary of Abraham Lincoln's death, not to mention Tax Day.  Coincidence?!  You be the judge.

The week that begins the second half of April is full of negatively significant dates. Titanic, Oklahoma City bombing, Hitler's birthday, and Waco come to mind.

smurff wrote: The week that begins the second half of April is full of negatively significant dates. Titanic, Oklahoma City bombing, Hitler's birthday, and Waco come to mind.

Tax filing deadline.

MediumTex wrote:

smurff wrote: The week that begins the second half of April is full of negatively significant dates. Titanic, Oklahoma City bombing, Hitler's birthday, and Waco come to mind.

Tax filing deadline.

That's probably the worst of all.

Ad Orientem wrote: My heart goes out to ya buddy.
http://youtu.be/pj-1b1Yvep8

Peter Schiff completely revises his opinion and all his predictions in light of new evidence: http://youtu.be/em3ViA23OUY

(just kidding)

Who knows. Maybe he is right. But I wouldn't be able to sleep at night if I had half my portfolio in gold.

He is totally right about our country's financial recklessness.

Reub wrote: He is totally right about our country's financial recklessness.

Maybe... and maybe not. My gut has been telling me that one day we are going to rue all of this debt and money printing. But my gut also told me to buy CGMFX in July of 2008. Which is to say that my gut is a known and convicted liar.

Reub wrote: He is totally right about our country's financial recklessness.

Care to show some evidence that?  Shouldn't we have high inflation and/or high interest rates? 

Oh yeah, we won't have those until 2010, or was it 2012...? 

Sorry, not to you.

I've seen a lot of financial doomsday prophets over the years and I think Peter Schiff ranks among the best. He can sound almost Biblical when he really gets going.

The thing about doomsday prophets, both religious and financial is that they always have a fallback position, summarized very well from this verse from the book of Habakkuk in the Holy Bible (I'll bet y'all can't pronounce Habakkuk correctly like I can)?

"The vision is yet for an appointed time. Though it tarry wait for it, for it will surely come".

No shit!

I'm starting to wonder if these doom porners haven't realized that Gibson's Paradox exists.  Isn't the willful or woeful ignorance of such why they are doom porners in the first place (other than selling fear is a profitable huck).

Schiff is obviously a douchebag, but the problem is he doesn't think he is nor the groupies he attracts, so there has to be a rational basis (i.e. above).

Reub wrote: Sorry, not to you.

Fair.  Is there anyone else here who thinks Schiff is a buffoon who is worth responding to?  There appear to be many of them who are Austrian/libertarian leaning.

There has to be a point at which our political or economic prognostications are actually measured. Harry Browne had this.  He separated his moral compass from his economic common sense in amazing ways.  Schiff is just a douchebag who strikes the right chord with some and makes a fortune doing so.

If you're wrong for long enough, eventually people stop listening to you. It's a self-solving problem.