Peter schiff gold stocks picks
Founded in by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.
Peter Schiff is an investment manager, author, media personality, and outspoken advocate for investing in gold. Schiff is a regular guest on financial news programming, a platform he uses to regularly recommend gold as a safe investment. Schiff's prowess as a media personality is exceptional. His investment record, however, is far less impressive. His most consistent recommendations are for gold, a position motivated by deeply held beliefs and his own self-interest.
The core of Peter Schiff's notoriety in the investment world is his ability to regularly appear in respected, prominent financial news media.
He's frequently quoted in The Wall Street Journal , The New York Times , Barron's , and Fortune , to name just a few. He's a regular guest on various financial and business television channels, from CNBC to Fox Business to MSNBC. His radio show, The Schiff Report , went off the air in , but survives today as a popular weekly podcast. He's published several books, all of which deal with the threat of an imminent crash in the U. His platform is a powerful tool to promote his economic and market forecasts.
More often than not, Schiff uses this platform to tell investors that they should be buying gold. It's no secret that Peter Schiff is bullish on gold. He has consistently criticized U.
In that scenario, gold is his asset of choice to provide a safe haven for capital amid a collapsing world economy. To the casual observer, Schiff's omnipresent media persona can give credibility to his worldviews and stock picks. He is a talented self-promotor. The reality, though, is that Schiff's worldview and forecasts, while consistent, have proven to be incorrect far more often than not.
Investors should approach his advice with a large grain of salt. To the surprise of no one, Schiff's current list of stock recommendations are heavily concentrated in gold. The largest holding in Schiff's gold fund is Franco-Nevada Corp.
FNV , a Canadian based owner of gold royalties and natural resource investments. Gold miner Agnico Eagle Mines NYSE: AEM is the fund's second largest holding.
Gold Price in US Dollars data by YCharts. Even Schiff's other funds, presumably those without an explicit focus on gold, are heavily dominated by companies with direct ties to the metal.
Four of the top five holdings in EuroPac's International Value Fund, for example, are gold miners.
Peter Schiff’s Gold Picks for Money Map Report? | Stock Gumshoe
Again, these stocks have done well this year -- gold miner Barrick Gold NYSE: ABX data by YCharts. Schiff's public predictions, separate from his actual investing, have an equally bad track record. In , he predicted an economic collapse driven by hyperinflation in the U.
It turns out that deflationary pressures were the bigger concern following the crisis, a reality that persists today. Or, consider his October statement on CNBC that investors "are going to be shocked at how inexpensive gold" was at the time.
Schiff is also quick to boast that he predicted the financial crisis, which he did, sort of, six years before the crisis actually started. If you predict a recession every single year, eventually you're bound to get one right. He also predicted at that time that the Dow Jones Industrial Average would soon collapse from 10, to 2, Instead, the Dow has climbed to nearly 18, this year. There are countless other examples of Schiff recommending gold to protect investors from one false crisis after another.
His consistency is remarkable, and seems to have no regard for contrary evidence or changes in economic and market conditions. I think the reason is two-fold. First, Schiff seems to genuinely believe in his hypothesis.
His father, Irwin Schiff, was a noted libertarian with an anti-establishment streak similar to his son's. His disdain for the federal government and Federal Reserve resulted in several stints in jail for a variety of run ins with the IRS, all driven by his staunch libertarian beliefs. Today, Peter Schiff carries the torch forward with as much enthusiasm as his father, albeit staying on the other side of the law.
I think Schiff genuinely believes what he says, however incorrect those predictions turn out to be time and again. Second, it's is critical to understand how Peter Schiff actually makes his money. There are the mutual funds managed by his brokerage firm, Euro Pacific Capital. Those funds charge fees on the capital invested, generally around 1. The funds are highly concentrated in the business of gold, making them a perfect place for fearful investors to park their capital after seeing Schiff on TV, online, or on the radio.
Peter Schiff: Opportunity of a Lifetime in Gold Mining Sector | On Air Videos | Fox Business
In other words, he's in the business of selling gold, so it makes sense that he'd consistently advocate for the metal over time. Further, he profits from the sale of his books and other media products. It is again in his best interest to make as many headlines as possible to draw in readers, viewers, and listeners.
In a world awash in competition for every eyeball and click, Schiff is a master at standing out from the crowd. At the end of the day, Peter Schiff's market predictions will be correct if gold rises and incorrect if gold falls. He'll continue padding his net worth as long as investors put their capital into his funds, regardless of the price of gold.
As far as everything else he predicts, I'd proceed with extreme caution. Jay Jenkins has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days.
We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. Anticipating opportunity, filtering out the noise, and figuring out what it all has to do with the price of rice in China. Like me on Facebook here!
Skip to main content The Motley Fool Fool. Premium Advice Help Fool Answers Contact Us Login.
Latest Stock Picks Stocks Premium Services. Stock Advisor Flagship service. Rule Breakers High-growth stocks. Income Investor Dividend stocks. Hidden Gems Small-cap stocks. Inside Value Undervalued stocks. Learn How to Invest. Credit Cards Best Credit Cards of Best Credit Card Sign-Up Bonuses Best Balance-Transfer Credit Cards Best Travel Credit Cards Best Cash-Back Credit Cards Best No-Annual-Fee Credit Cards Best Small Business Credit Cards.
Mortgages Compare Mortgage Rates Get Pre-Approved How Much House Can I Afford?
Taxes How to Reduce Your Taxes Deductions Even Pros Overlook Audit-Proof Your Tax Return What Info Should I Keep? Helping the World Invest — Better. How to Invest Learn How to Invest. Personal Finance Credit Cards Best Credit Cards of Best Credit Card Sign-Up Bonuses Best Balance-Transfer Credit Cards Best Travel Credit Cards Best Cash-Back Credit Cards Best No-Annual-Fee Credit Cards Best Small Business Credit Cards.
Jun 16, at 1: Prev 1 2 3 4 Next. Motley Fool push notifications are finally here Allow push notifications to help you stay on top of Breaking investing news Earnings coverage Market movers Special offers and more Subscribe to notifications You can unsubscribe at any time.