If you've never heard of Isaiah's Job and "the remnant," I'd like to point you here.
I immediately thought of Isaiah's Job while watching a fantastic speech that was recently given by Peter Schiff.
During that speech, Peter told the following story:
We had a hedge fund that shorted sub-prime. We started in '06 and it returned 800% in '07...To show you how clueless people were, you can see this speech that I gave. It's on YouTube and I did it in 2006.
One of the main reasons that I went to this speech is that I was hoping to get investors in my hedge fund [...] I went to a convention of 3,000 mortgage bankers. I'm thinking these guys ought to figure out that there's something wrong here. They're right in the middle of it.
So I gave a presentation about how this market was going to collapse, how the sub-prime market was going to implode, how most of these people would be out of work in a couple of years. I really just laid it in.
I said 'Look, you gotta at least hedge yourself. I've got a hedge fund and we're shorting these sub-prime mortgages'...
Out of 3,000 people, one person called me up in a couple of days and invested.
One person.
I think he made like 10x his money, or whatever it was.
He did really well.
Chris Rossini is author of Set Money Free: What Every American Needs To Know About The Federal Reserve. Follow @chrisrossini on Twitter.
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