Accurate Predictions

In the past, I have poked some fun at those making outlandish predictions, since in most cases the results are more or less based on nothing but luck. However, sometimes an individual can accurately analyze present economic conditions, especially if they are totally out of whack with reality, and come to logical conclusions as to what the likely outcome will be.

This was the case with Peter Schiff, the owner of an investment company, who made some dire real estate predictions back in Dec. 2006. He actually walked the talk by selling his home in Orange County, California, relocating to another area and becoming a renter.

It appears that Peter was right on with his at the time heavily criticized and laughed at viewpoints.

Calculated Risk featured 2 video clips with Peter. One shows him on CNBC where he reiterates his opinion, which is spot on. It’s worth listening to.

The other video clip features him back in 2006 in a discussion with several so called experts making housing predictions. It’s pretty funny when you see some of these jokers making the case for a continued housing boom vs. Peter’s straight forward analysis.

About Ulli Niemann

Ulli Niemann is the publisher of "The ETF Bully" and is a Registered Investment Advisor. Learn more
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