Monday, December 8, 2014

Why the Dollar’s Reserve Currency Status is America’s “Achilles Heel” by Marc Faber

Ned Goodman (born in 1937) is a successful entrepreneur (by background a geologist) and a philanthropist who also happens to be a billionaire, thanks to his Dundee Group of Financial, Resource and Real Estate Investments, which he founded in 1991.

He is also a deep thinker, and a man with common sense and a vast knowledge. Every year, Goodman airs his insightful views in a lengthy paper (the 2013 write-up was over 90 pages) published as part of Dundee’s annual report. In the 2013 report, he explains:

    In Dundee’s initial Annual Report for the year 1991, dated May 11, 1992, I wrote that our investment philosophy encompassed fundamental principles and was totally oriented toward value. I stated that it was essential that we understood the business before we invested, and that we looked to purchase assets that were likely to increase in value by at least 150% over a five-year period.

We knew from past experience that we must understand how to sell before we buy, and that always requires the establishment of a selling target along with a plan of action for achieving that target… The Clarkson Centre for Business Ethics and Board Effectiveness (CCBE) report of 2013 showed that we were able to achieve a 20- year share price return of 18% per annum for our shareholders, while increasing the market price of our stock by more than 30 times over that period. I can assure current shareholders that not one part of our process and philosophy has changed since 1991…
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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.

Dr Faber studied economics at the University of Zurich and, at the age of 24, obtained a PhD in economics. He publishes a widely read monthly investment newsletter The Gloom, Boom & Doom Report, which highlights unusual investment opportunities, and is the author of several books, including Tomorrow’s Gold – Asia’s Age of Discovery which was first published in 2002 and highlights future investment opportunities around the world. Tomorrow’s Gold was for several weeks on Amazon’s bestseller list and has been translated into Japanese, Korean, Thai and German. A regular speaker at various investment seminars, Dr Faber is well known for his contrarian investment approach. He is also associated with a variety of funds.