Good old affable Peter Schiff is out again spewing his nonsense in a video. How anyone pays this guy for his “analysis” is baffling. He has been wrong so long, you wonder how his clients have any funds left. In the interview he hits all of the talking points, the big sellers that will always pull in some more dumb money. You know the Golden Oldies like “cheap money from CBs”, is one of the only things “holding up the bubble” along with the “low interest rates”. Uh news flash Pete. Short-term interest rates have soared since October 2011. He should be reading my posts as I have laid this out numerous times. Like way back in December 2015 –
“Lastly on bonds. And its a doozy. In the Sep. update, I said the Fed would be raising rates soon, even though, all of the way over paid famous talking heads were claiming the Fed would not raise rates, maybe ever. The reason is that my technical work convinced me the short term interest rates were about to explode higher. And explode they have – 3 month, 6 month and 1 year TBills are at 7 year highs – up by 10 -20 times from the lows. And to repeat the Fed does NOT lead the bond market, they FOLLOW. And when the Fed does catch up to the bond market, short term rates will begin to move even higher. Expect to see a flat yield curve within 18 months as the 10 year yield will stay stubbornly low for a while before also exploding higher.”
And yet this is all part of a huge multi-decade stock bull market, again he should be reading my posts, from August 2014 –
“For 5 plus years, the geniuses who have claimed that the stock market is about to crash — they are now getting more frantic and strident. There is almost a 0% chance of a crash anytime soon. Since 2009, my friends at ____ have called me every nasty name, as I repeatedly stated that the March 2009 low in stocks is a generational low and stocks are going massively higher. The Dow is eventually headed to 100K, but with several huge selloffs along the way.”
And old Pete rambles on about overvaluation, P/Es, Trump, and he actually said this – “no one seems concerned about any of this”. What? Is he serious? This nonsense has been repeated by the incompetents for 8 years straight. Learn what bubbles are before saying anything else. This market is going massively higher. There isn’t remotely a bubble, over-stretched is not a bubble. The selloffs are buying opportunities. Why? Listen up Pete, if you would have learned what accumulation is you wouldn’t have made such a fool of yourself over the years. Thank you Danny T. for showing me the way many years ago, that knowledge is priceless.
Who is Danny T ?
My outstanding mentor, who at first (correctly) had zero faith in me until I learned to truly focus and then proved myself. He was interviewed for Market Wizards, but had the interview pulled.
thank you scott , I wish I could have access to mentor like you and your mentor .