TD: As an extension of that last question Marc, as an administrator of assets, what are the characteristics you look for before deciding to give money to other people?
Marc Faber : Well, most of the money that I look after, I manage. But I believe that we don’t know about the future, and I may have my views about investments and maybe someone else has a different view or a different skill set or a different niche of expertise.
For example, I don’t know anything about biology. I also don’t understand social media. But maybe there is someone out there who is specialized in those sectors, and to him I would allocate some money. Or for instance I’m familiar with Russia because my partners and I founded either the first or second Russia fund, Firebird, at the time in 1993.
But I’m not today an expert on each Russian company. So for investments in Eastern Europe and in Russia, I would give my money to somebody else, or even in Asia. I don’t have the time to visit every company. I know lots of families that own businesses and so forth, but I’m interested also to see what other fund managers are doing.
So if I know a fund manager that is specialized in Asian shares and value oriented, I give him some money and I can also see a little bit what he’s doing. So I allocate some money to different managers.- in bullmarketthinking Click here to watch the full interview
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.