Saturday, July 12, 2014
Marc Faber : Market will Crash soon
"The problem with crashes, you never know beforehand precisely what is the catalyst," the publisher of the Gloom, Boom & Doom report told CNBC's "Closing Bell." "I think it's a colossal bubble in all asset prices, and eventually it will burst, and maybe it has begun to burst already," Faber said Tuesday."I think that the global economy does not support the current valuations," he said Wednesday. Corporations "have had record profits, largely because they are buying back their own shares and so the number of shares is diminishing where revenue growth is basically flat." "Since 2012, I said it would be healthy for the markets to have a meaningful correction, but it could be that we are in a year like '87 when we go straight up and then we don't have a correction but a more significant crash," he said.
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.
Dr. Marc Faber Tomorrow's Gold
Dr. Marc Faber author of the Gloom, Boom and Doom report is a world class Investor, Doctor Faber 's typically controversial and contrarian views have earned him the label of Dr. Doom. Doctor Doom also trades currencies and commodity futures like Gold Natural Gas and Crude Oil.Even his harshest critics must admit that he's been unerringly correct in his market forecasts over the past three decades . Marc Faber is a Swiss investor.He was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager.