Schiff gets it wrong

[Guest]

Re: Schiff gets it wrong

Miker - I don't own the Rogers fund but I agree with you - for commodities this humble futures tracking fund is a classy investment. There is a lot to be said for being in assets that are not "stocks". Personally I dislike stocks anyway. But if you are thinking of nibbling on the Rogers fund (or placing a significant position in it) you should probably own also a small handful of the 800 pound gorilla stocks in the commodities, like BHP Billiton, Rio Tinto, Petrobras. I'll rummage around in my old commodities portfolios for a couple of others of their size and PM you with them. BTW, the uranium stock which EuroPac put you into, Cameco, is the classic "don't know anything about the uranium space so I'll just recommend the biggest stock" reccommendation. Cameco's Cigar Lake mine is a company killer - this stock will be a dog in the uranium boom of the 2010's. I frankly envy you the performance you've gotten out of gold and silver, being in the GBP zone. It was definitely a one-off performance for you to get this upside from Europac's recommendations - because you were in the GBP zone everything did really well. For those not in a collapsing currency this past year, practically all of Schiff's recos have been real dogs. The guy is undeterred though. His spin machine is very "well oiled". Yak yak yak. Yakety yak yak.

[Mega]

Re: Schiff gets it wrong

Thanks Luke, i take any advice as my a/c has some cash in it. Not sure your right about Cameco, they doing a BIG deal in OZ.

Largo, how did you buy oil?

Mike

[LargoWinch]

Re: Schiff gets it wrong

Mike, I bought HORIZONS BETAPRO CRUDE OIL BULL (HOU.TO); a 2X ETF $CAD hedged. I doubt this play is attractive to someone outside Beaverland.

I also like CANADIAN OIL SANDS TRUST UNITS(Toronto: COS-UN.TO).

In the US, I like USO and COP (Conoco), but my long-shot "all or nothing speculative money" is on BQI.

...

As an aside, why Schiff? Man, can't you do it yourself without the 6% fee?

[metalman]

Re: Schiff gets it wrong

Mike, I bought HORIZONS BETAPRO CRUDE OIL BULL (HOU.TO); a 2X ETF $CAD hedged. I doubt this play is attractive to someone outside Beaverland.

I also like CANADIAN OIL SANDS TRUST UNITS(Toronto: COS-UN.TO).

In the US, I like USO and COP (Conoco), but my long-shot "all or nothing speculative money" is on BQI.

...

As an aside, why Schiff? Man, can't you do it yourself without the 6% fee?

enough with the schiff shit... anti-matter cramer self promoter... i can get this gargage on reddit.

[The Outback Oracle]

Re: Schiff gets it wrong

I'll rummage around in my old commodities portfolios for a couple of others of their size and PM you with them. .

Hi Lukester...would you mind including me in that PM please...cheers

[GRG55]

Re: Schiff gets it wrong

Thanks Luke, i take any advice as my a/c has some cash in it. Not sure your right about Cameco, they doing a BIG deal in OZ...

Why do you think they are doing "a BIG deal in OZ" Mega?

Lukester's warning should not be dismissed. They have a serious problem at Cigar Lake, and there is significant risk they have to write off all the reserves and resource. Often, in this situation, resource company managements will do an acquisition in order to have something to put on the books to offset the coming writedown. Sometimes the merger additions and the writedowns are done one right after the other...always in that order, of course.

Mike, I bought HORIZONS BETAPRO CRUDE OIL BULL (HOU.TO); a 2X ETF $CAD hedged. I doubt this play is attractive to someone outside Beaverland.

I also like CANADIAN OIL SANDS TRUST UNITS(Toronto: COS-UN.TO).

In the US, I like USO and COP (Conoco), but my long-shot "all or nothing speculative money" is on BQI.

Anybody looking at Canadian Oil Sands should be aware that it has about Cdn $500 million of debt maturing in a few months. The distribution cut a few weeks ago should put about Cdn $1.1 B in its coffers this year, as long as oil prices hold. Nevertheless, in these crazy times, a debt maturity of that size is not assured of being replaced on favourable terms. And any further significant fall in the oil price, should it occur prior to the debt maturity [COS is not hedged], raises the risk of not being able to secure new financing to replace the maturing amount.

[LargoWinch]

Re: Schiff gets it wrong

Anybody looking at Canadian Oil Sands should be aware that it has about Cdn $500 million of debt maturing in a few months. The distribution cut a few weeks ago should put about Cdn $1.1 B in its coffers this year, as long as oil prices hold. Nevertheless, in these crazy times, a debt maturity of that size is not assured of being replaced on favourable terms. And any further significant fall in the oil price, should it occur prior to the debt maturity [COS is not hedged], raises the risk of not being able to secure new financing to replace the maturing amount.

Thank you GRG for the information! The input is very much appreciated. I think I will now wait before buying some COS.

I am unsure of this, but I cannot certainly be positive news for crude prices this week:
http://news.bbc.co.uk/2/hi/business/7944472.stm

[cardplayer1]

Re: Schiff gets it wrong

I got with the staff at Europacific a few weeks ago to discuss my finances.

I felt like I was talking to people that were highly trained in sales techniques (talked with a couple of brokers and the managers) for the mostpart. Isn't that what brokers are generally largely trained to do, to sell?

Few observations:

1. They seemed to be dodging questions about the current stuff I had, trying to angle to get me to transfer my funds there first. I have an international mutual fund with no u.s. companies in it, and I was told that's the same thing as the s&p 500. I have an emerging markets index fund, and that was also supposed to be the same as the s&P. After I challenged that they said the international def. is same as s&p, and that the emerging markets index fund could be.

2. One broker was suggesting I put up to 30% of my net worth into a company's bonds called endeavor silver in canada, that they were closing a deal and they were doing me a big favor the way he put it to let me in as an preferred investor, but I would need to get my funds over there really quick. This was a recent deal that they put through at europacific. They said that it was a rock solid bond investment because, "they don't have any debt" and implied chances of me losing my money was very remote. The bonds were convertable to shares, some special deal they were offering at a future date. To me putting 30% of my net worth in a small mining company seems kind of reckless for a guy that's semiretired. And how can they not have debt when they are issuing bonds?

3. They never had over 15 minutes to answer my questions on the phone. There was always a meeting or somebody in the lobby, even when they had time to call me at their chosen time (sales angle?) Prolly 5 contacts with the brokers.

[Mega]

Re: Schiff gets it wrong

Dave Ramsey:-
http://www.youtube.com/watch?v=S98_e...eature=related
Mike

[cardplayer1]

Re: Schiff gets it wrong

Dave Ramsey:-
http://www.youtube.com/watch?v=S98_e...eature=related
Mike

Good video, but I think it says a lot more about Ramsey than Schift. Ramsey admittedly says he doesn't know much of anything about Schift, just that he knows who his Dad is, and that Schift is recommending Gold, and that Schift is predicting a Crash of the u.s. economy, basically.

[Jay]

Re: Schiff gets it wrong

Thank you GRG for the information! The input is very much appreciated. I think I will now wait before buying some COS.

I am unsure of this, but I cannot certainly be positive news for crude prices this week:
http://news.bbc.co.uk/2/hi/business/7944472.stm

The perfect oil call involves one part GRG, one part symbols and a whole lot of the FDI, which looks like it might be trying to break down. I wouldn't be short oil right now.

[cardplayer1]

Re: Schiff gets it wrong

The perfect oil call involves one part GRG, one part symbols and a whole lot of the FDI, which looks like it might be trying to break down. I wouldn't be short oil right now.

Boon Pickens predicted recently that oil will hit 60 before it hits 40

[hayekvindicated]

Re: Schiff gets it wrong

Boon Pickens predicted recently that oil will hit 60 before it hits 40

Pickens is hilarious. Gambling at the age of 80 with insane amounts of leverage.

[GRG55]

Re: Schiff gets it wrong

Thank you GRG for the information! The input is very much appreciated. I think I will now wait before buying some COS.

Just an adder on COS. I have tremendous respect for Marcel Coutu, he is [imo] simply one of the absolute best corporate executives anywhere in Canada. However, even the best management cannot always overcome the ravages of the markets.

Second, COS has an interesting production situation looking out over the next five years or so. Having completed its major, and expensive, expansion, Syncrude is confident it can increase its production by 600,000 barrels per day in a series of optimization and de-bottlenecking moves...in other words without any major expansion project. Now, that is a very high value option for investors in COS [publicly it is saying 500k bbls, but the engineers say 600k is a done deal once the oil price supports some spending].

So, as with any good investment, it's all down to the timing of the entry.

I am unsure of this, but I cannot certainly be positive news for crude prices this week:
http://news.bbc.co.uk/2/hi/business/7944472.stm

I've long been of the view that OPEC hasn't had any real control over oil prices for the past 25 years. However, they finally seem to be clawing it back ever so slowly, as non-OPEC production appears to have entered terminal decline. I suppose there is a legitimate argument that if OPEC [essentially Saudi Arabia] had not acted in recent months, perhaps oil would be back at $10 or $20 right now. Time will tell...

[flintlock]

Re: Schiff gets it wrong

Dave Ramsey:-
http://www.youtube.com/watch?v=S98_e...eature=related
Mike

While I like Ramsey's view on staying out of debt, from time to time I hear him say the most ignorant things on his show. The other day he was saying "What recession?" Just clueless. Basically saying this is all just the media hyping a little bad news. Otherwise we'd be out of this already. Buy and hold!

I hear he's now touting himself as a financial adviser. I'd beware of taking advice from anyone who makes money selling poor people a "system" to get out of debt through churches and talking in terms of "baby steps".