MARC FABER

MARC FABER

Saturday, August 3, 2013

Marc Faber Projections for Russian Economy


 What are your projections for Russia?
MARC FABER : Well basically, my partner and I had one of the first Russian funds, Firebird, which we started in 1993. Firebird still exists although I am no longer a partner, but it was a very successful hedge fund that invested not only in Russia, but also former Soviet Union countries and has investments in countries like Mongolia and so forth. I think it is difficult to say I am bullish about this country or bearish about that country. I think it depends very much on what kinds of sectors of the economy you invest in, what kinds of companies, and what kind of partners you have and if they are reliable or not.

In general, the valuation of Russia is very low compared to other emerging economies.

MARC FABER
However, should commodity prices come down, I do not think there would be much growth in the Russian economy. We have a lot of issues as well about corporate governance and so forth. I have played Russia more in recent years through the debt market. In other words, I hold bonds of Russian issuers.
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Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
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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.