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January 17, 2009

Who Do You Listen To?

by Dan

Those at work know I can be easily distracted into a discussion on the economy and the desperate attempts of our political leaders to avoid being (rightfully) blamed for the catastrophe. I read quite a bit of economic and financial commentary, so I thought I’d list the people whose comments and advice I trust.

I’ve followed most of them for months and had a chance to see how their predictions turned out. All of their past articles are available for review too. It’s hard to argue with someone who is consistently accurate in evaluating current events.

Of course, not everyone on the list agrees all the time, which is good. Reading dissenting opinions from time to time can help clear your mind. My past investment in silver, for example, would’ve turned out much better if I’d been paying attention to more than one writer.

So, here they are:

I read everything these guys write. Only Mish is hard to keep up with. :-)

UPDATE: I’ve decided to remove Peter Schiff from my list after reading about Peter’s results for 2008. I haven’t been reading Peter for very long, but he’s been wrong for all of last year. Here is the most telling line from the article:

In other words, Schiff failed where it matters most: Peter Schiff did not protect his client’s assets.

I used to have a big investment silver. I sold it after reading a different article by Mish that talked about leverage and commodity prices during a recession. I wish I’d read and acted on it sooner.

My basic test for an adviser, columnist, economist or other financial adviser is whether their advice helps me make money and avoid losing it. After learning more about Peter’s recent track record, I no longer feel comfortable recommending him.

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