Sunday, October 2, 2011

A Lehman Brothers event not likely in Asia

Marc Faber : There is, for sure. In 2008, the financial sector went bust. In the future, the governments will go bust. However, Asian governments’ finances are in a much better position than those of governments in the Western world, which have – aside from the published fiscal deficits, unfunded liabilities that are coming due. That will become a huge problem as the population is ageing, and fewer workers support more retirees. Asia reacted well to the 1997-98 crisis. A period of deleveraging followed: businessmen became conservative, they paid down debt. And banks became cautious in their lending. Asian banks are any day safer than banks in the Western world. I would deposit money in a Thai bank, no problem. They don’t know what a derivative is — because the derivative salesman was stuck in traffic in Bangkok! - in http://www.firstpost.com

Marc Faber recommendation for asset allocation

Marc Faber : Nobody knows what the world will look like in 10 years. I’m always asked ‘where will the markets go?’ But there’s so much intervention through monetary and fiscal policies that it’s hard to say. My advice is for investors to be diversified: 25 percent in Asian real estate; 25 percent in equities; 25 percent in cash; and 25 percent in gold. - in http://www.firstpost.com
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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.