what's funny there is, shedlock doesn't trade, doesn't have any money, doesn't invest any other person's money, and therefore, aside from being a plagerist with an unsubstantiated resume, doesn't have any risk what so ever, when he opens his mouth.
there in lies one distinct difference between shedlock the plagerist and peter schiff.
there are others equally important.
secondly... when it comes to calls, 100's of people have been calling this situation going all the way back to 1998. This is easily documented. Along the way, some at times made money, some at times lost money, and some, net net, made gobs of money. an event occuring once in 300 years, one might already conclude, is hard to time in all of its unfolding parts. Clearly, however, anyone making such a call, and having taken appropriate heed, is thus far, and today, in an extremely enviable position compared to every major house and bank and pension and endowment fund existent world wide.
I'd say guys like peter schiff, and presumeably the clients of his who see the big picture, have been, and will be, in great shape as this unique moment unfolds. One in 300 year events do not care about arbitrary investment year dates. It is a process in fact, not an event. The process envelopes and supercedes, and thusly overrides, mere reporting dates for returns on investment, and thereby making it all the more difficult for a market timing approach., let alone the herd mentality of a market having had a fed chairman in its pocket since 1988.
Shedlock is an opportunistic hack who owes his web presence to the same phenomenon that spawned cnbc, hysterical empty bubbles. He has yet to prove by any substantiative measure he is any more than a motley empty vested fool. Just another manic symbol. |
