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Peter Schiff - Buy Gold, Energy and Emerging Markets - 01-24-11

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Uploaded on Jan 25, 2011

It's paid to be bullish on U.S. stocks over the last two years. It's been especially profitable over the last 12 months when compared to emerging markets like China. In the past year, the Shanghai Composite has fallen nearly 15% while the S&P 500 is up 17%. In 2011, the trend continues, the S&P 500 is up another 2% while the iShares MSCI Emerging Index Fund is down 2%.

Regardless, Peter Schiff CEO of Euro Pacific Capital still isn't turning bullish on the U.S. These periods of U.S. outperformance have been and will continue to be an anomaly, he says.

In fact, Schiff sees signs the U.S. market is breaking down, saying recent weakness in the small-cap Russell 2000 has been masked by the relative strength of the Dow. "You've got financial assets in the U.S. under pressure - stocks, bonds and the dollar," he tells Aaron in the accompanying video. Furthermore, the gains in the U.S. aren't as great as the charts show if you take into account the falling dollar, he argues.

Besides emerging markets, Schiff is still concentrating his investments on precious metals, including gold. The weakness in gold to start the year - a result, he says, of a rising euro and worries about continued tightening in China - creates a buying opportunity. "Anyone I think who is buying on this dip will be rewarded," he says.

Schiff also continues to like energy and oil, predicting oil will once again trade over $100 per barrel this year.

Off camera, Schiff says he remains short U.S. Treasuries in his personal account and is keeping fixed-income clients exclusively in international bonds with maturities of three years or less.

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