JP should be respected for his FSN ...
in response to
by
posted on
Aug 17, 2009 09:44AM
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... that does not mean JP is right in his personal forecast predictions, and his his timing.
Regarding
I do not recall any one of them on FSN who warned us that we were about to (putting it politely) lose our shirts.
I believe I remember a few serious warnings ... JP and others said buy bullion, not stocks in turbulent times, however JP did not see the turbulence coming. However Frank Barbera was very bearish in more rounds, openly disagreeing with the Puplava strategy and later the Orio theory on FSN. FB actually did forecasted the downturn, saw and predicted the markets roll over, and he also saw and warned about the accelerated selling pressure and warned about the banking collapse ... JP did not like *or did not hope* FB was right, but JP did broadcast FBs points and views.
The JP Orio cookie theory was not holding water and JPs timing on stocks in general was more than poor and JP was late to accept the fact! JP did sell many of his juniors but much later when much of the damage had happened, raising cash and swopping into producers and bullion, ... without mentioning it on beforehand in FSN. But who would say I am selling ... when you are selling? ... and at the same time have loads to sell in tiny and bearish markets.
Another example of JP poor timing:
JP indicated he went partly short the market at the exact same time when this current big correction started !
JP did see the correction in Oil but did not see the big drop in Oil from 150 to 35 ... but JP does in general warn about the big annual and cyclic moves (plus minus 50%) in both gold and oil.
Last but not least .... JP has a big point and has been right regarding the trend of Gold bullion.
Also he shares FOR FREE a lot of history, information, ideas and shares his interviews, his personal interests and believes and he shares his often indebt analytics .... and I respect him a lot for that. From that you can start paint your own picture.
I introduced one of my friends to JP, PSFGroup July 2007. He had a 2 - 3 year investment horizon. PSF recommended my friend NOT to invest in PSF with this short horizon. That is what I call respect for the individual investor and tells me what horizon JP and PSFG is taking.
My respect to JP (and PSFG), thay have one of the best free financial information services I know of in the market.
Best,
Euro.