Thursday, July 24, 2014
Marc Faber : I like Agriculture ,Chinese & Hong Kong Stocks & Precious Metals
"In general I like plantation companies – I like everything to do with agriculture," said Faber "Now agriculture prices have tumbled – corn, wheat, soy beans and so forth, but in the long run we have a global population that has more than doubled since 1960. We are now seven billion people and we will still grow. I think resources are very stretched and food will become very important," he added. "Hong Kong and China are very inexpensive relative to the rest of the world and are in a colossal bubble," he said. "I have argued again and again that investors should hold some assets in precious metals as an alternative to cash," he said. "One of the functions of paper money is to be a store of value. But… with practically zero interest rates and cost of living increases of about 10 percent per annum…. paper money at zero interest rates loses its purchasing power," he added.
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.
Posted by Nicole Bourbaki