Wednesday, February 29, 2012

Marc Faber : let Greece go bust Now

Marc Faber : I think there is a possibility of a new government (in Greece) but whatever happens the fact is 'Greece is Bankrupt' , now if you have a bankrupt company either you let the company go out of business or you support it with government interventions , I am against the support and the government interventions but we have to look at it that's the way it is in today's environment and may be they will continue to support Greece , the fact is someone will take a loss somewhere , either the tax payers who have to continuously bailout Greece and I think in the end they will default anyway but it can be postponed , the best would have been to let Greece go bust right away it would have been far less costly than now ....- in Bloomberg Radio - 21 Feb 2012
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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.