Marc Faber has made a killing for years, making very pessimistic—but very correct—calls about the market, to the benefit of his $300 million fund. But by his own admission, "Dr. Doom" hasn't done so well in the friends department. The 67-year-old, ponytailed investor recalled the time he invested $100,000 in a pal's publishing firm, only to discover that his friend had held the copyrights under his name, and not the company. The result: His (now former) friend more than doubled his money when he sold the rights five years later, while Faber only got his money back. - in insidermonkey citing The Wall Street Journal
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.