I don't think these guys are crooks, they're just victims of the market - like their followers. Guru cycles are closely linked to market cycles. When markets are bouyant, gurus can do no wrong. When markets are down, gurus can't read their email.

If you check Peter's record, you'll note he was bearish on US markets but bullish on juniors before & during the 08 crash. Everything got hit that year, but juniors tanked worse than anything - I'm sure Peter's followers were not happy at the time. Then came the 09 & 10 rebound - Peter was a hero - most of his recommedations were flying. Now we are in another decline - and he's once again a bum. Next up cycle he'll be a hero - and on it goes...

There is a tendency among investors to find the hot gurus and follow them until they go broke. Gurus can be useful as inputs, but they should never be followed blindly.