“That’s because people are acting foolishly; they’re making mistakes, they don’t understand the real dynamics that
are at play here.”

“And you have a lot of foolish people managing other people’s money, and making foolish decisions. They’re too focused on the ‘what’s working now’ and not ‘what’s going to be working in the future.‘

- Peter Schiff in indexuniverse

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as “Doctor Doom” because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called “Crash Proof” and a follow-on called “The Real Crash”. He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Source: We have a lot of foolish people managing other peoples money