PETER SCHIFF

PETER SCHIFF

Wednesday, January 1, 2014

Gold As A Long Term Investment

I was reading an article on Bloomberg trying to discredit gold as a long term investment. It points out that gold has been a terrible investment for people who bought it in 1980 and is still holding it. And they went to compare how gold has done over the past 30 years compared to stocks, bonds and checking accounts. Of course, they conveniently had to pick 1980 as the date of the comparison. And I see this happening all the time. That was the peak of the gold`s market move in the seventies. Why hadn`t they picked 1970 when gold was at 35 USD an ounce? If they had done that they would have very different results.

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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