Monday, July 4, 2011

Marc Faber : Gold Mining Shares are quite inexpensive

Marc Faber : ..In the seventies by in large stocks did badly but there were big fluctuations every year so there was a lot of volatility and also if you bought at the lows of 74 , you actually made money , number two there were two sectors of the market that were very strong , energy and mining these two were very very strong , I think at present time Gold mining shares the exploration companies are quite inexpensive but I would even say that big oil companies are not terribly expenssive or natural gas companies so that is a sector I would eventually look at , I would say in the Gold mining sector you can buy the more established companies like Newmont Mining Corp. or Freeport McMoran Copper & Gold , the more exciting part are the exploration companies but they have also higher risk but for instance NovaGold was at 20 dollars two years ago it went down to about a dollar now it is about 4 , I mean the value of the company could easily be 15 , 20 dollars so there are a lot of companies that are still attractive , in the national gas base I would say a speculative investment Chesapeake Energy very good as gas prices recovers and one day it will recover , it is not easy to play it the recovery and then you have the Oil Companies the Exxon of this world and so forth they are not terribly expensive ..." - in tech ticker
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Dr. Marc Faber author of the Gloom, Boom and Doom report is a world class Investor, Doctor Faber 's typically controversial and contrarian views have earned him the label of Dr. Doom. Doctor Doom also trades currencies and commodity futures like Gold Natural Gas and Crude Oil.Even his harshest critics must admit that he's been unerringly correct in his market forecasts over the past three decades . Marc Faber is a Swiss investor.He was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager.