Posted on November 16, 2008 by Dan Sweet
“One of us is off base, but its definitely not me!”
This video on Youtube is amazing. Could also be titled-”why you should never make predictions on TV.” Ten minutes of pure talking head awesomeness!
Memorable moments occur at these points:
2:15 “I’ll bet you a penny!”classic! nothing like the I’ll bet you a penny line to show you are serious!
2:40 “in a normal market home prices will rise about 10%”
3:32 “what artificial lending standard are you talking about!?!” (voice dripping with scorn)
4:10 Ben Stein “financials are being given away…its as if nuclear war has struck the financials” Dow @ 13k
5:19 Ben Stein “sub-prime is a tiny tiny blip”
6:10 Peter Schiff “the fundamentals are NOT sound”
6:28 Ben Stein “Merrill is astonishing well run, might as well be putting it in cereal boxes and giving it away aat these prices” Merrill @ $75
7:25 Ben Stein “their earnings are HUGE, what are you talking about?!?”
8:50 “I like Washington Mutual, I know we are catching a falling knife”
9:20 ” Dow will go to 16k easily”
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Posted by Charlie Crystle
November 17, 2008 @ 10:42 pm
perfect!
Posted by Daniel Sweet
January 26, 2009 @ 3:04 pm
Apparently, according to Mish, while Schiff was right, he was wrong on a number of other fronts and didn’t do very well for his clients as a result.
Read more here:
http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html
Thanks for bringing this post to my attention Paul Kedrosky.