Thursday, April 26, 2012

Marc Faber on the Cycles of Gloom, Boom and Doom

Marc Faber MoneyandWealth Interview - Apr 21, 2012

Marc Faber : 'Over the last few months, the market has acted very badly. There are less new hires, the volume has dried out, insider sales have picked up, and this is the beginning of a downward trend. We may easily have a correction of 10-20% here. Most stocks are already down 10% from their highs. Markets have more than doubled from the lows in 2009. The global economy has actually deteriorated. 'It has optically improved because of huge government spending but in principle we are in a worse position today than we were in 2008 and 2009. There will be more money printing and if your are hyper bearish, maybe you are better off in equities than you are in government bonds and cash. I also advocate to own some gold'.
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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.