Comment: I love Peter, but following him isn't always profitable

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I love Peter, but following him isn't always profitable

When gold was $1900 an ounce back in 2011, he was calling for it to go higher. Also in 2011, he was talking about how gold mining stocks were an amazing value. As the price of gold declined about 20%, gold stocks have fallen about 50% over the past 2 years. I know this quite well because I do follow Peter Schiff's investment advice, and I have lost a lot of money over the past 2 years.

Yes, Peter Schiff is right about some macro forecasts, but he has an awful record on market timing. In addition, you have to take his macro forcasts with a grain of salt by realizing he is permanently bullish on gold and oil, and permanently bearish on the US economy.

We all want progress, but if you're on the wrong road, progress means doing an about-turn and walking back to the right road; in that case, the man who turns back soonest is the most progressive.

-C. S. Lewis