

The 76 minute MBA - eprof

I am a recent MBA grad currently working on an education start up.<p>This lecture was filmed in 2009.  I learned more from this (highly entertaining) video than from graduate school.<p>http://www.youtube.com/watch?v=EgMclXX5msc<p>The lecturer is Peter Schiff - most famous for predicting the dot com bubble and the housing bubble.<p>There are several themes in this lecture you guys may find interesting and relevant:<p>-Sustainable businesses make decisions based on current and future cash flow.  Real Estate and Tech are no different<p>-Bubbles are predictable<p>-Keynesian economics (low interest rates, stimulus, money printing, bailouts, subsidies, Fannie Mae and Freddie Mac) fuels bubbles<p>-The 'boom' is the problem, the 'bust' is the solution
-Moral Hazard (too big too fail) is not conducive to prudent, long term decision making<p>-When it comes to frothy markets, "this time is different" is not an advisable mentality<p>I hope this serves as an introduction to Austrian Economics and a wake up call to those who ignore the powerful effects loose monetary policy.
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shaggyfrog
Peter Schiff seems to be a classic story of survivor bias and confirmation
bias. His Wikipedia entry has a section on "Investment Advice" that is chock
full of examples.

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eprof
Ya he is a polarizing figure in the world of finance. What did you think of
the video itself?

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shaggyfrog
Interesting framing of my comment. "Polarizing figure" suggests something akin
to a Great Taste v. Less Filling debate.

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eprof
I was hoping my post wouldn't incite ad hominem arguments.

Moot point though, nobody watched it.

Did you agree with the lecturers logic?

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actionbrandon
I am a big fan of Hayek (not exactly von mises, but close). Hayek himself was
very wary of demogogery, which is something that I often see from austrians,
and from Schiff.

Further, Schiff seems to think that he personally has the ability to "fix" the
economy and make it work properly. IMO A liberal (economic liberal) single
all-knowing leader who wants to plan the economy (or anything, really) is just
as dangerous as any other central planner.

