Peter Schiff, Alexis Christoforous, Keith Fitz Gerald, Mark Skousen speak at the Las Vegas Money Show. Keith Fitz Gerald sounds off on his firm’s investing strategy. Keith focuses on the terms ‘simplify’ and ‘risk management’. On the current bull market, Fitz Gerald states,
“History shows very clearly: Missing opportunity is a far more expensive proposition than trying to second guess the inevitable.”
“I think we have a long way to go. It’s the right set of circumstances that can come into place. If you’re not in to win, your going to lose.”
Schiff, Christoforous, Skousen and Keith Fitz Gerald talk the US Economy
When asked if he was limiting his exposure to US equities right now, he responds,
“Not at all. It is the best looking horse in the glue factory.”
For those who don’t know: A glue factory is where old, sick horses go to die. So, Fitz Gerald believes the US markets are the best of a bad bunch.
Finally, he outlines a few sectors that he is most invested in, including defense, medical technologies and big tech, which he explains,
“All of which are changing the world. All of which are backed by unstoppable trends.”
Mark Skousen weighs in with a few Wall Street sayings, including,
“Never sell on Monday.”
“Bears make headlines; bulls make money.”
Skousen warns investors not to overestimate the scope of globalization. And that 29% of the US economy is related to exports and imports. Trump’s protectionist policies could become a danger to the ongoing bull market.
Peter Schiff continues to warn of imminent collapse and a looming dollar crisis as he has been doing for the past decade. Peter believes that sound money, limited government, low taxes, and minimal regulations is what made America the richest country on earth. But, that “we are not that nation today.”
Schiff on the Trade War
While it is hard to disagree with the above, manufacturing jobs are pouring back into the US ever since Donald Trump was elected President. Schiff believes that,
“The only thing that has been keeping us afloat is the ability to live on the productivity of foreigners and the savings of foreigners.”
“This relationship is in jeopardy right now.”
The other participants shoot Schiff down and engage in a comedic back and forth discussion.
The Money Show brings together great financial minds from both sides of the spectrum. Finally, be it bull or bear, these economists and money managers have a depth of experience worth listening to.