Monday, October 18, 2010

Marc Faber: sell cash and bonds before the bubble burst

Marc Faber : Investors should buy stocks and sell cash and bonds because governments are continuing to print too much money and may create a new “credit bubble, “Instead of interest rates' going down, they could start to go up. Instead of the dollar being weak, it could strengthen,” Marc Faber told reporters during a forum in Seoul, South Korea, last week. “I'm ultrabearish on everything, but I believe you'll be better off owning shares than government bonds,” he added.
In 1987 Dr.Marc Faber also warned his clients to cash out before the Black Monday on Wall Street. He made them handsome profits by forecasting the burst in the Japanese Bubble in 1990. He correctly predicted the collapse in US gaming stocks in 1993; and he foresaw the Asia-Pacific financial crisis of 1997/98 and the resulting global volatility. Dr Doom motto is "Follow the course opposite to custom and you will almost be right"


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