Listen To The Peter Schiff Show!

This is where I found out about bulletproof.com and this is where I get the majority of my investment advise.

http://www.schiffradio.com/

Comments

  • I know this guy, so he uses BP diet?
  • 'Jblock' wrote:


    I know this guy, so he uses BP diet?
    I don't think so, he's just as new to it as I am.
  • OceanRayOceanRay
    edited April 2013

    Not sure this is appropriate for the BP forum as PS's economic predictions come from a very specific idealogical position which he/his followers believe to be the truth. Many others believe him to be wrong/hysterical. Also, his funds have done very poorly at certain periods in recent years.


    Overall he is a very divisive figure who, for me, creates more heat than light.


    I feel he is correct on two points; (i) the dollar (yen/gbp) currencies will face massive devaluation in the next few years, (ii) it would be wise for anyone with savings to put a proportion of them into gold.


  • 'OceanRay' wrote:


    Not sure this is appropriate for the BP forum as PS's economic predictions come from a very specific idealogical position which he/his followers believe to be the truth. Many others believe him to be wrong/hysterical. Also, his funds have done very poorly at certain periods in recent years.



    Overall he is a very divisive figure who, for me, creates more heat than light.



    I feel he is correct on two points; (i) the dollar/other currencies may face massive devaluation in the next few months/years, (ii) it would be wise for anyone with savings to put a proportion of them into gold.




    But he is just regurgitating shit other people have said, that is not that original. I watched his youtube video when he went to OWS. He had no respect for peoples' opinions and just wanted to hear his own voice. I get that he is smart and a good talker, but totally douche in my mind
  • OceanRay, Dave Asprey was the featured guest on the Peter Schiff show a few weeks ago. Dave talked about bulletproofing and what it was all about. For you to say that this is not appropriate for the forum is like saying drinking gasoline helps with the bulletproofing process. Dave must have some sort of respect for PS to accept to be on his radio show.
  • OceanRayOceanRay
    edited January 2013
    I was unaware that DA had been on the Schiff show.



    The title of the thread (and it's location in 'wealth hacking') told me that Joe E. was recommending Peter Schiff. This recommendation is to my mind highly questionable for anyone who wants a return on their money (just check out his funds' returns over the last few years)

    If however, people want hysterical hell-in-a-hand-cart jeremiads delivered in a high-pitched whiny voice, Schiff is your guy.



    But I wonder if this is the best place to thrash it out?



    kanerm wrote;

    'Dave must have some sort of respect for PS to accept to be on his radio show.'



    I suspect DA was more motivated by promoting the BP lifestyle, rather than giving PS's investment thesis a tacit

    seal of approval.



    kanerm wrote;

    "For you to say that this is not appropriate for the forum is like saying drinking gasoline helps with the bulletproofing process."



    That is the dumbest analogy I have ever seen.

    For you to make this analogy is like a woman in a canoe saying Orcs don't make good interior designers.

    Okay, second dumbest.
  • Peter Schiff is a full-force, free market student who I believe has a lot of courage going on networks like CNBC debating (clueless) Keynesian Economists. He is very bullish on gold though which unless you have a lot of idle cash may not be the best way to invest.
  • OceanRay, I think your emotions and defensiveness got in the way of the point of my post. The analogy is indicating that your previous post is inaccurate



    Peter Schiff talks about the truth of what is happening. Our government and the federal reserve cover up and manipulate numbers to the public so they can create trends in the economy, whereas Peter Schiff talks about what the numbers ACTUALLY are and what the cause and effects of these numbers will be. I don't know about any of you but I would rather invest my money on real facts and truth than a falsified fantasy story that the government required MSNBC to run.



    I think the main reason people don't give Peter Schiff much credit, or don't like him at all is because he has negative views towards the US Government and the Federal Reserve. He also predicts a very negative outlook for the US....and people just don't like listening or believing that. Its simply ignorance and denial. When the time comes, when all countries investing in dollars realize we will never pay them back (because we are never going to pay them back), when that day or month or year comes, people invested in bonds and stocks will lose their asses and people invested in precious metals, foreign currencies, other commodities, and foreign stocks will be comfortable or even rich.
  • Joe E.Joe E.
    edited January 2013
    'OceanRay' wrote:
    (just check out his funds' returns over the last few years)
    https://www.google.c...F-8&sa=N&tab=we



    This fund was rated the best/#1 emerging markets fund of 2012. It returned over 40% in 2012. You were saying? Since I opened my account with peter in May '12, my fund has returned 10%. I'm putting my money where my mouth is. Maybe I should have mentioned in my original post that Dave was on his show. Funny how you were surprised by this.



    I put the interview in my dropbox for you all (it starts with him plugging Audible)

    https://dl.dropbox.com/u/21580995/Dave Asprey Interview.mp3
  • OceanRayOceanRay
    edited January 2013
    'Joe wrote:


    [url="https://www.google.c...F-8&sa=N&tab=we"]https://www.google.c...F-8&sa=N&tab=we[/url]

    This fund was rated the best/#1 emerging markets fund of 2012. It returned over 40% in 2012.




    Exactly.

    That fund has existed for 2 years and it's lost money for more than half that time. It's done well since May, but thats a tiny sample size. Good enough for you, maybe, not good enough for me.

    My personal expectation is that a lot of these gains in Asia are gonna be hit hard if/when the dollar starts to burn.

    That said, I took Schiff's advice on NOK/SEK years back and did well with it.




    Maybe I should have mentioned in my original post that Dave was on his show. Funny how you were surprised by this.




    I wasn't surprised, just unaware of it.



    I just want to point out that Schiff may not be the genius his publicity machine and followers claim. There is massive variability in the accuracy of his predictions, and the performance of his funds.



    We probably agree on a lot (gold/the dollar etc), so let's leave everyone to do whatever the f*ck they want.
  • Here's the thing with Peter's investment strategy. He's in it for the long haul, 20+ years. There were some reports that his funds/stocks crashed back in '08, a lot of his clients liquidated and demonized his advise. The fact is, if they would have kept those accounts going, they would be ahead now, way ahead. Everyone wants a quick buck. Just you wait and see, I'll bet you, a friendly bet, that Peter's funds skyrocket in the next 10 years. Just remember I said that... we shall see. And keep it civil dude, no need to get flagrant.
  • Peter Schiff is a very bad economist and a mediocre investor at best. I love his rhetoric though and he's actually funny. But he's a sales man, he has a brokerage.



    @ Joe E.



    The fund lost money in 2011 and is up about 15% in two-years, an annualized 7,5%, which is OK. BUT (!), the EP Small Asian Companies is a front-load fund. To get in you'll have to pay 4,5% of your funds. Suppose the following example:



    An investor, Peter, gives $ 100.000 to this EP Asian fund.

    Peter has to pay 4,5% for this, so he's left with $ 95.500 (100.000 * 0,955)

    The first year he loses 20% and pays an additional 1,75% management fee. He's left with $ 74.251.

    The second year, the fund regains and returns 41%, again with 1,75% management fee (so 39,25% real return).

    After two years Peter has $ 103.395, which equals an annualized return of 1.70% (pathetic).



    If this is your strategy to get rich, Joe, good luck.



    I like him, though. He's a nice guy (although very annoying in debates and even interviews) and I have several friends working for him.



    I agree that many people shouldn't invest at all, above all the people that panic and take out their funds at the worst possible time.
  • 'Olav' wrote:


    Peter Schiff is a very bad economist and a mediocre investor at best. I love his rhetoric though and he's actually funny. But he's a sales man, he has a brokerage.



    @ Joe E.



    The fund lost money in 2011 and is up about 15% in two-years, an annualized 7,5%, which is OK. BUT (!), the EP Small Asian Companies is a front-load fund. To get in you'll have to pay 4,5% of your funds. Suppose the following example:



    An investor, Peter, gives $ 100.000 to this EP Asian fund.

    Peter has to pay 4,5% for this, so he's left with $ 95.500 (100.000 * 0,955)

    The first year he loses 20% and pays an additional 1,75% management fee. He's left with $ 74.251.

    The second year, the fund regains and returns 41%, again with 1,75% management fee (so 39,25% real return).

    After two years Peter has $ 103.395, which equals an annualized return of 1.70% (pathetic).



    If this is your strategy to get rich, Joe, good luck.



    I like him, though. He's a nice guy (although very annoying in debates and even interviews) and I have several friends working for him.



    I agree that many people shouldn't invest at all, above all the people that panic and take out their funds at the worst possible time.
    I'm up 10% since last May, after the load. I'm not sure your math works out. It's more complicated than that. Actually, the more you invest, the less the load is. A $25K account is 4.5%, $50K = 4.0%, etc. Peter is hilarious, cracks me up. As with anything in this world, you get what you pay for. I buy Upgraded Coffee b/c it's the best. I invest with Peter because I believe him to be the best. To each his own. My strategy to get rich is to simply save my money...and invest it. It won't grow sitting under a mattress aka a bank.
  • He's definitely not the best... by far. But good luck, and the precious metals, especially gold, should benefit you well in the coming 5 - 10 years. But don't suspect to get rich investing your money at Euro Pacific, that's an illusion.



    BTW: My math works out great image/wink.png' class='bbc_emoticon' alt=';)' /> Don't worry about it. You are aware that whenever a fund drops 50%, it has to gain a subsequent 100% just to break-even, do you? That's what I mean with only counting the gains. You're missing the overall picture. You're talking like a gambler. Not counting the losses, only bragging about the gains. It is likely that you've entered the fund when it was already down quite a bit (at a favorable time), so you're overall return looks pretty OK right now. However, if you lack financial sophistication and instead listen to Peter's sales force, it's just a question of time that you will enter in a moment a lot less favorable.



    I rather have a fund that returns over 5 - 10 years each year 6% straight one year losing 20% and the next year gaining 40%.
  • @olav I understand your math, but it doesn't take dividends into consideration. I realize dividends aren't that much but they do make an impact. I'm fully aware of your above mentioned comments. I've studied Peter's philosophy and it makes more sense to me than any other. I buy metals too. So what firm would you recommend if not Europac?
  • That were true if EP didn't include their dividends in their total return, but they re-invest all their dividends so that's not the case. There's actually a graph in EP's annual report that shows the fund performance after costs (which is not really good).



    Investment funds that I would consider only start at 2,5 million $ minimum buy-in (for example, Universa or Baupost). The second best thing is to invest directly in whatever you have more knowledge in than others and where you have considerably more influence on the end-result of your investment. Don't invest in things that are outside your own competence. Some people start with rentals, others with importing and exporting, others pool their savings with others as angel investors, etc. Whatever. You actually have some fun doing it and if you lose it all, hey, at least you've learned something.
  • 'Olav' wrote:
    The second best thing is to invest directly in whatever you have more knowledge in than others and where you have considerably more influence on the end-result of your investment. Don't invest in things that are outside your own competence.




    That's prolly the best proverb Iv ever heard. Iv always intuitively believed that as well just never seen it condensed & articutulated in words. Iv always just reinvested in myself in areas of personal expertise which as a professional poker player means building a bankroll & playing bigger games along my progression.



    That said investing in a Roth IRA as well as perhaps investing in real estate with my best friend (his personal area of expertise) is prolly my best available investing options.
  • Joe E.Joe E.
    edited March 2013

    Buy gold stocks!  I own ABX, AU, GFI, NEM, SAND, FCX, SBGL (a spinoff of GFI.)  But do your own research.  Others I'd like to own are GG, KGC, RGLD (in that order.)  NEM has a good dividend right now because it's so low.  I plan to buy more gold stocks as soon as I buy more gold.


     


    P.S.  I only keep money in the bank to move it around between investments and life essentials.  Never do I keep money in the bank for saving.  It's not working for you there.  Make your money work for you.  Don't get me wrong, I keep some money in cash and have an emergency fund.  But my nest egg is invested.


     


    Edit:  Add EXK to the stocks I plan to buy.


  • I'm a Schiff fan, but I don't think he is some omnipresent being that can predict the future.  He may be too much doom and gloom for some people, but he brings up a lot of good points.  


     


    I would suggest that anyone interested in economics and finance pick up one of his books or take a look into the school of Austrian economics.  Even if you don't buy into any of it, I think it's always good to test your own assumptions and read what the other side is thinking.  This is a great mental exercise!


     


    I personally don't think the Western world is ending anytime soon.  Even if there is a huge pullback/"collapse" it just marks a great buying opportunity!


  • Joe E.Joe E.
    edited March 2013

    I'm a Schiff fan, but I don't think he is some omnipresent being that can predict the future.  He may be too much doom and gloom for some people, but he brings up a lot of good points.  


     


    I would suggest that anyone interested in economics and finance pick up one of his books or take a look into the school of Austrian economics.  Even if you don't buy into any of it, I think it's always good to test your own assumptions and read what the other side is thinking.  This is a great mental exercise!


     


    I personally don't think the Western world is ending anytime soon.  Even if there is a huge pullback/"collapse" it just marks a great buying opportunity!


     


     


     


     


     


    Well said.  Problem is, what are you going to buy with when your USD are worthless?


  • Well said.  Problem is, what are you going to buy with when your USD are worthless?


     


    Haha.  That's a valid question, my man!


    In all seriousness, I would say that it is probably never a bad idea to mitigate your risks.  If the "developed world" is really intent on a great Race to Debase, then socking away some dough in precious metals will make you look like a smart cookie.  


     


    I quit my job and relocated to Asia about a year ago.  I am a big fan of diversifying your sovereign risk.  So I don't lose too much sleep about the USD anymore, but now I get to eat polluted fish and breathe smog everyday  :-P

  • Just bought some physical Au/Ag last week.  They say it should be at least 10% of your portfolio, two-thirds in Au.  So far I'm on that target.


  • Joe E.Joe E.
    edited May 2013

    Hey, so I was thinking. After what happened in Cypress. It's not a bad idea to physically hold your emergency fund in cash. I heard on the show last Tues, keep only what you need, in the bank, for your day to day spending and bills. That's actually what I do already. I just have the cash invested, not laying around. Except for the metals. I'm going to start saving cash. It's also a good idea if our ability to use credit cards are frozen.


  • Wow.  That guy is obnoxious.  I hope he's smart and knows a lot about investments 'cause he's a shit interveiw.

  • Chris Berka from podcast #28 is on The Peter Schiff show today.  I actually emailed Peter and suggested he have her on.  WOOT!!


  • Joe E.Joe E.
    edited May 2013

    Wow.  That guy is obnoxious.  I hope he's smart and knows a lot about investments 'cause he's a shit interveiw.


     


     


    Dude, Peter is hilarious!!  Check out this recent appearance. LOL!


     


    http://youtu.be/6MdanMn4jYU


  • I quite enjoyed his podcast with Joe Rogan. Obviously a very knowledgeable guy but I just don't know enough to believe him regarding what he see's coming.


  • Yeah, I love Schiff. He has a great way of explaining complex monetary concepts into simple layman terms. He gave a great lecture in Australia recently that you can watch online.


     


    His funds certainly are NOT lookers though. Plus you get nickle and dimed to death as his broker is only a white label of Saxobank. At least it was when i checked almost a year ago.


     


    The offshore bank with gold and silver cards are attractive however.


  • Anyone wanting to invest in gold or silver off-shore in Switzerland, be sure to let me know.


     


    @BuckRogers:


     


    Good going ;) The Austrian business cycle theory is a pearl.


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