Peter Schiff

And I think NVIDIA is overpriced.

But NVIDIA is a business that is generating income, right, selling its GPUs and has earnings.

So it's an actual viable business.

The question is, what is that business worth?

I think it's worth less than the market currently leads.

But it's worth something.

There's no doubt that NVIDIA is a valuable company that is producing things that people need.

Well, if that's the reason... Look, if we buy stocks, right, for our customers at Europe Pacific Asset Management, which is my company, the most important criteria is the current earnings and the dividends, right?

So I'm buying...

because they generate income to me as the owner.

Just like if I were to buy real estate, I would look at the rental income, right?

For sure.

What am I getting in rent?

Of course, yes.

If you just buy real estate because you think the price is going to go up, well, you're a real estate speculator.

Maybe you'll speculate right.

Maybe you'll be wrong.

But it's different from an investor who is looking at the cash flow.

For sure.

So when I buy a stock, if I'm getting a 7%, 8%, 9% dividend, right, because I own that company, it's paying me a dividend, I don't need the stock to go up.