Bear Market Guru turns Doomsayer & Shills for his Own Company
Peter Schiff is a professional doomsayer who strongly makes the case that the American economy is going to hell in a hand basket. Fast.
He lays out this case in his book, CRASH PROOF. Given the backdrop of recent months, it is hard to say he is wrong. The book came out @ February of 2007 so Schiff is prescient in a number of realms.
If doom and gloom is your cup of tea, you have come to the right book. Schiff sees over consumption, inflation and misguided government policies as providing a recipe for economic and financial disaster. My gripe is that the book's title oversells and does not really constitute truth in advertising. I estimate that only about one-fourth of the book is prescriptive in offering ways to "crash proof" yourself and your finances. Schiff's solutions revolve around three themes: invest in foreign securities, buy gold and maximize your liquidity.
It just so happens that Schiff's firm can address the foreign securities need and he peppers his final chapter with "plugs" for his investment company.
Excellent Insight
Peter Schiff has a remarkable track record for divining the future. His videos, available on Youtube, display back bone and wisdom in standing up to the tide of popular opinion. The guy shows poise and self control in the face of overwhelming contrary positions. I too held the same opinion, "The economy is in trouble!". I wasn't sure what to do about it. And it was through a chance hit, that I discovered Peter Schiff. Unlike me, Peter has the answers to, "What do you do to protect yourself?" I don't agree with all of Peter's conclusions, but the book served as a catalyst and platform for further thinking on the subject. I adopt the strategies of Peter's that I like and was able to think of additional things that I wanted to do. Thanks Peter. Great book. Did you collect your "penny" from that snob? (One of the tube videos)
Peter Schiff's book is garbage
I read the book and invested my IRA in his firm. My life's saving was invested into a "Capital Secured" manner. I lost 40%. His book and his advice are hog wash.
Not crash proof
First, this book has the wrong title. The majority of the book's argument and purpose is to explain how fragile the US economy is and how the indications of failure are just the beginning of a larger dollar collapse and implosion of our economy. Since we aren't crash proof, the idea is to move your assets into precious metals, foreign stocks, and liquidity for quick strikes on opportunities. It's a radical thought that may have value in these increasingly radical times.
Be careful!
If you follow this investment advice in early 2008 you could lose 50~60% of your money. Unfortunatally I did. So be careful!
(259 reviews)
