Schiff CNBC Power Lunch 12-29-05 [Flashback]

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Peter Schiff: “We have been investing exclusively overseas for the last six years and have out-performed the U.S. market substantially. This most recent year, 2005, has been quite different. From 2000 – 2004, the performance has come from higher dividend yields and appreciating foreign currencies. This last year, even though the dollar was relatively strong in many of the markets, the foreign stock markets did tremendously well. Going forward, I expect foreign stocks to out-perform U.S. stocks, particularly since the U.S. dollar will resume its decline next year.That will put the wind at your back when you’re investing abroad.”

Gary Shilling: “U.S.consumers are very important to the rest of the world. We have a huge trade deficit; the rest of the world has huge trade surpluses. It’s a classic case of, ‘We get a cold and they get pneumonia.'”

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Peter Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the US Senate.

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