Peter Schiff Was Wrong

If you, like us, are a fan of Peter Schiff you should read this important Peter Schiff rebuttal by Mish. Now, Peter Schiff is excellent at spotting structural problems, and being a vocal face for dire warnings in the media. The problem is that there is a difference between spotting a problem, and making the right analysis, conclussion and correct investments based on them.
We suspect we ourselves partly like Peter Schiff for being an outspoken radical. Long term I am certain Peter Schiff will be proven right about many of his thesis, but that is the long term. Before that we have to possition ourselves and make money, not to mention not loosing money.
In the larger picture I will say that the contrarians (like ourselves) in this bust have been doing a good job spotting the problems and trouble. But, we have not been equally good at identifying and predicting the worlds governments countermeasures to “fix” the problems along the way.

In the end it is important to TRUST NO ONE but yourself.
YOU have to be your own investment manager.
You have to work to be on top of this yourself.
REMEMBER that your own view on the market is most likely quite wrong.
So be very careful.
Take PRECAUTION accordingly.
Caveat emptor!

I am not saying that Peter Schiff is all wrong, and Mish all right. Yet if you are reading any of Peter Schiff’s best selling books you need to print this and put into the book this rebuttal, to get both sides of the story:

Oslo, Norway. Jan. 26. 2009 Hans Lysglimt

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