Prescience

14 Nov

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HT Sully

In the clip, on August 18, 2007, Ben Stein recommends buying Merrill Lynch (MER) at a “bargain” $76. It’s at $13/share today.

Charles Payne recommends buying Bear Stearns, which is now out of business, and he says “the financials are a great place, absolutely.”

Tracy Byrnes recommends Goldman Sachs (GS), which is the “creme de la creme” and like getting “Dolce & Gabbana on sale”. It was at $175/share in the clip, and is now at $69.99.

In early 2008, Payne recommends buying Washington Mutual (WAMUQ) at $13/share. It is now on the OTC at 6 cents per share. He goes on to predict Dow at 16,000 by the end of 2008.

Peter Schiff recommends Street Tracks Gold Shares (GLD), which was at $83/share, and is now at $72.15.

It’s amazing how patently disrespectful they all are to Schiff.

7 Responses to “Prescience”

  1. Kate November 14, 2008 at 9:13 am #

    Wow.

  2. mike November 14, 2008 at 9:36 am #

    Ben Stein? I wouldnt even buy a used car for him. Pump and dump like its 1929.

  3. Mike November 14, 2008 at 9:57 am #

    Not for nothing, but Fabio’s grasp of the issues was quite impressive starting @ 2:40.

  4. Derek J. Punaro November 14, 2008 at 10:57 am #

    Peter Schiff – economic advisor for… Ron Paul. Hmm. Maybe the old guy isn’t as crazy as everyone thought.

  5. Jeff November 14, 2008 at 4:21 pm #

    I hope this video is going viral.

    All of those ASSHOLES should write a letter of apology to Schiff and, for that matter, should go on national television and apologize to the countless millions who took their horrible and apparently uninformed advice and lost a bundle.

  6. Jeff November 14, 2008 at 4:23 pm #

    At 3:45 I just want to punch that greaseball in the face.

  7. STEEL November 14, 2008 at 11:02 pm #

    I would like to see this same panel today. What a bunch of idiots.

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