Doomsaying is a tricky business. In the late 1970s, when commodities were king, technical analyst Bob Prechter correctly predicted the implosion of the commodity bull market and a “‘super cycle’” bull market in equities. His eerily on-target prediction made him an investing superstar. Unfortunately, he then predicted the 1990s would be a severe bear market for stocks, capped by a prediction that the Dow would fall to 800 at the start of this decade. Right now, Peter Schiff, president of Euro Pacific Capital, is the doomsayer du jour. Schiff, as you may be aware, takes credit for predicting the...