{"id":5785,"date":"2021-09-24T17:40:05","date_gmt":"2021-09-24T21:40:05","guid":{"rendered":"https:\/\/howigrowmywealth.com\/?p=5785"},"modified":"2021-09-24T17:46:06","modified_gmt":"2021-09-24T21:46:06","slug":"the-truth-about-peter-schiff","status":"publish","type":"post","link":"https:\/\/howigrowmywealth.com\/the-truth-about-peter-schiff\/","title":{"rendered":"The Truth About Peter Schiff"},"content":{"rendered":"\n
Peter Schiff is Chief Economist & Global Strategist at EuroPacific Capital. He is also chairman of a gold reselling company. He appears on RT and has authored several books about the collapse of the dollar. Peter is a vocal critic of the US Federal Reserve and warned loudly about the housing bubble prior to the 2008-2009 financial crisis.<\/p>\n\n\n\n
I owe much of what I know about the Federal Reserve to Peter Schiff. I’ve read some of his books and used to listen to his podcast.<\/p>\n\n\n\n
But I’ve come to realize that Peter Schiff is not someone you want to listen to for financial or investment advise. The following are some key areas where I think he goes wrong.<\/p>\n\n\n\n
His EuroPacific Funds are Expensive and Underperform<\/h2>\n\n\n\n
I invested some money with his firm, EuroPacific Capital between December 2014 and December 2020.<\/p>\n\n\n\n
During that 6 year timeframe, my investments with EuroPacific Capital went up 20.5% (about a 3.8% annualized return) which doesn’t sound too bad until you consider the S&P 500 doubled in price during that same timeframe and provided an annualized return of nearly 15%.<\/p>\n\n\n\n
Peter’s firm EuroPacific Capital, charges what I consider to be high load fees and they underperform. For someone who preached about inflation, you’d think he’d make sure his funds at least beat inflation. They don’t. Looking up his funds on MorningStar, you can see the poor 5 and 10 year returns.<\/p>\n\n\n\n
The EuroPac gold fund has a 5-year annualized total return of 2.29%. Inflation has been well over that for the past five years.<\/p>\n\n\n\n