| Michael Pento Joins Euro Pacific as Senior Economist |
July 28, 2010 - 9:52am — europac admin
By:
Millie Munshi
Source:
Bloomberg
July 27, 2010
July 27 (Bloomberg) -- Michael Pento, who correctly predicted the 2008 commodity market collapse, joined Euro Pacific Capital as a senior economist.
Pento said today in a telephone interview that he will be based in New York and cover macro-economic trends and “international investment and commodities, in particular precious metals.” He will also serve as the firm’s vice president for managed products.
Pento was previously a Holmdel, New Jersey-based senior market strategist at Delta Global Advisors of Huntington Beach, California. Euro Pacific is run by Peter Schiff, who predicted the recession in 2006.
Investing in foreign securities involves risks, such as currency fluctuation, political risk, economic changes, and market risks. Precious metals are volatile, speculative, and high-risk investments. As with all investments, an investor should carefully consider his investment objectives and risk tolerance as well as any fees and/or expenses associated with such an investment before investing. International investing may not be suitable for all investors.
Dividend yields change as stock prices change, and companies may change or cancel dividend payments in the future. The fluctuation of foreign currency exchange rates will impact your investment returns if measured in U.S. dollars. Past performance does not guarantee future returns, investments may increase or decrease in value and you may lose money.
Security industry regulators would like you to know that our investment strategies are based partially on Peter Schiff’s personal economic forecasts which may not occur. His views are outside of the mainstream of current economic thought. Investors should carefully consider these facts before implementing our strategy.