Sunday, November 2, 2014

Faber : A 30% Correction would be a 'picnic' -- BNN News

“Actually 30 percent is not a big decline. It’s a picnic. A big decline is 90 percent. I’ve seen many 90 percent declines in my life,” said Marc Faber in an interview with Canadian BNN.

 “Sometimes the reality comes late, but when it comes, it comes with a vengeance,” he added.

“Nobody knows what the mad professors in the central banks will do. They can go and buy baseball cards and collectables and stock and everything under the sun. They will never know when they are out of bullets because they grossly overestimate their intelligence,” he said.

 “I would no longer trust central banks. I want to be my own central bank and have gold and silver stored in a safe place. Certainly not in the U.S.,” he said.
Click here to watch the 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.

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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.