A recovery is not coming, whether it’s V-shaped, U-shaped, W-shaped or whatever. So says Peter Schiff, president and chief prognosticator of Euro Pacific Capital and just about the only person to accurately forecast the financial mess in which we now find ourselves. He was all over Fox News, CNBC and CNN before the crisis hit. His “outlandish” take on what was to come was scorned, dismissed and outright mocked. It was great for ratings; and he willingly took the abuse, fancying himself on a midnight ride from the Old North Church.
Funny – they haven’t called him a whole lot lately, knowing his appearances will live in perpetuity on YouTube, and they might actually be held accountable for the condescending chuckles and flat-out wrong predictions they made (which, ironically, is something Ben Stein previously said to Schiff). His alarming yet sober analysis is one reason he made this year’s Forward Thinking Five.
Kim Wright-Violich, head of Schwab Charitable, was just as accurate in her prediction last year for charitable giving in 2009 (exact is more like it). She’s not shy about trumpeting her foresight, and she offers up specific strategies for advisors in the area of philanthropy and legacy planning. Bill Losey, Dan Ariely and Dan Houston are similarly thought-provoking in their views for the coming year.
They’ve got answers to so many of your clients’ questions. And with 2010 shaping up to be a make-or-break year for boomer retirement (hyperbolic? maybe, but certainly within reason) their outlook will help you and your boomer clients sleep a bit better at night, if you’re sleeping at all. We refer to them as industry leaders for a reason, and as always, we will gladly rely on their guidance in the weeks and months ahead.