Stocks: Does anyone know what Schiff has said about his being wrong about European stocks?

[rpuser]

I remember seeing him telling people to buy European dividend producing stocks at the beginning of the crisis. that turned out to be a bad idea. what has he said about that suggestion?

 

[Deborah K]

I think he intended for them to be long term investments. Everything is going to take a hit. You have to weather the storm. If you're gonna stay in the markets.

When we first called EuroPac and consulted with them, I gleaned the above from the advisor we talked to. We then decided to put our money elsewhere: gold, silver, real-estate, and other stuff.

 

[dannno]

Well you have to diversify when you're investing. Had gold taken a big hit and European stocks held steady, we would be having the same conversation about gold. It's a long-term investment.

The idea is that the world's reserves are all in dollars, and as we are about to destroy the dollar much of those reserves will be coming back here, causing inflation which will push up gold and of course will also result in large increases in the value of foreign currencies relative to the dollar. Since foreign stocks generally pay dividends in foreign currencies, this becomes quite advantageous, especially while going through difficult economic times.

 

[HenryKnoxFineBooks]

Welcome to the forum....

 

[Mike120170]

I remember seeing him telling people to buy European dividend producing stocks at the beginning of the crisis. that turned out to be a bad idea. what has he said about that suggestion?

Where would you be if you had invested in the US stock market at the beginning of this crisis? I seem to recall many on Fox and CNN suggesting US financial stocks as this crisis was unfolding. What do they have to say about that now? It's too early to call Schiff's suggestions a bad idea. His prediction is that other countries will recover faster than the US. All markets are down, so I don't see how you can prematurely call his suggestions a bad idea. His predictions are long term and if he is correct his clients will benefit. He, along with others, have also suggested gold and other PM's which is where I've put much of my extra frn's and it's worked out quite well for me so far.