Peter Schiff Part 2

Among all the "Peter Schiff was right" videos on Youtube, I found this one, a client of his complaining about huge losses.






As I posted earlier this week, Mish posted a "Peter Schiff was wrong" post last weekend. I do not wish to get into the middle of the controversy, but it does illustrate something that is absolutely vital to being a successful investor - knowing when you are wrong, admitting it quickly, and getting out. Schiff apparently has his clients in foreign stocks which are getting crushed worse than U.S. stocks are, and they are taking huge losses. Schiff insists that the situation will reverse, but if he is wrong, his clients' money is gone. the lesson is, preserve capital, live to fight another day.