Wednesday, June 25, 2014

Marc Faber : I have 25 percent exposure to Gold

"Nobody at CNBC owns gold. Nobody at Bloomberg owns gold. Gold is being constantly talked down by the media, and Fed officials, and economists, who also don't own any gold. They're all stocked up in equities.""When people talk about people who are optimistic about gold, they call them 'gold bugs,'"
"A bug is an insect. I don't call equity bugs 'cockroaches.' There is already a negative connotation with the expression of 'gold bug.'" Faber said he has about a 25 percent exposure to gold and recently purchased some when it fell. "Nothing is particularly cheap, [but] gold is relatively cheap compared to equities at the present time,"

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.

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