Tuesday, August 19, 2014
Marc Faber – Social Media Stocks Are Overvalued
“In the tech space, anything to do with cloud computing is overvalued. There is a lot of competition that will come in and depress prices for these services. I wouldn’t buy these stocks,”
Marc Faber believes that the tech sector is in a bubble that is about to pop. He has always been a firm believer of gold and hard assets. Which would you rather own?
Many investors have speculated that the technology industry has been in a bubble recently due to the Federal Reserve's aggressive monetary policy initiative of low interest rates and monetary expansion.
Marc Faber who publishes The Gloom, Boom & Doom Report highlighted in a recent interview that social media and biotech stocks are in the midst of a bubble phase and are highly priced, though noted that the entire sector is in a bubble phase.
“In the tech space, anything to do with cloud computing is overvalued. There is a lot of competition that will come in and depress prices for these services. I wouldn’t buy these stocks,” posited Faber, who has long been a bear on the U.S. stock market.
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.