Peter vs. Porter: Peter exposes the real story behind Porter Stansberry's "predictions"-The Peter Schiff Show - www.SchiffRadio.com - 5/26/2011While Porter has in fact made several good calls throughout his career, including calls on Fannie, Freddie, and GM, a review of his newsletters from Jan. 2006 to Dec. 2008 contradicts his claim that he predicted the financial crisis of 2008 as far back as 2006. NOTE in this video I comment on Porter's buy recommendation of Markel in Oct. 2007 as indicative of his not seeing this crisis coming. However I neglected to give him credit for selling this position in Aug of 2008, just prior to the collapse.This indicates to me that Porter was more concerned about the potential for a looming financial crisis at that time than I gave him credit for.While a more thorough review of Porter's newsletter from 2006 -2008 confirms that while Porter did not see the financial crisis coming in 2006 or 2007, it also reveals that by April of 2008, he had a somewhat greater appreciation of the implication of what was happening than I originally believed.He took action to mitigate some future losses and demonstrated some understanding of the long-term consequences that would result from government bailouts and Fed stimulus. I also grossly underestimated the number of views his video received.According to Porter, it was viewed by over 10 million people.The video I referenced was posted by a third party, which had disabled the comments.