TD: Marc, given your world travel experience, how would you characterize the value of water as a natural resource and what do you think might be some of the opportunities and pitfalls in investing in that resource?
Marc Faber : Well, as you know, we still have colossal poverty in the world. Usually extreme poverty occurs in areas where you have no water. Water is very important, it’s a scarce resource. Countries that are endowed with a lot of water like Canada, or even the U.S., or some European countries like Switzerland (we have a lot of water), and are very fortunate.
Countries that have no water like the Sub-Saharan Africa, they are very unfortunate. So I believe that one should invest in water. I suppose there is an execution risk but I think water would be, if you want to have development aid, if you want to improve the standard of living of people, I would rather address the water problem, the proper water distribution, the irrigation, than to give them vaccines and gifts. - 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.