Mark Faber says the biotech sector, as well as social media and chip stocks, are due for a plunge. He also thinks investors will lose confidence in central banks.
This transcript has been automatically generated and may not be 100% accurate. I ... January is marked with for consumers and the financial markets ... get lots of optimistic views of white there to kill investments are gonna go up ... sometimes we like to divert from that point of view ... and Jack Otter Editor Barron's the common for the opposite point of view I've gotten Mark Palmer who is editor of the boom boom and doom report ... I got the drawn to ... the gloom doom and gloom reports ... on mark to give us your outlook for the global economy in twenty fifty ... well I think it would OPEC different parts of the world to America as we selected American Norse America Canada Mexico ... and in Europe and binned the emerging market calm breaks was known to be Asia ... and Africa and Central Asia the Middle East ... then have to say that Europe is unlikely to grow ... maybe grows by one percent to eighty contracts by one percent to be ... statistical other nations ... I don't think that the U S economy speaking uprising slowing down ... and in emerging economies we have no gross at the present I ... in some countries they may be growing a one two percent than in others they Harry's of contraction the new dos new production ... the Chinese economy which is ... the dominant emerging economy in the world ... he said that the slowing down ... being the only other hand has probably at the present time around five six percent growth ... rate in general ... you tobacco aches for staff cannot ... even go back to the global reserve accumulation that they're not ... so I think that who face a disappointing two thousand and fifteen in terms of ... economic growth ... India sounds like you're only bright spot there ... whoa in terms of gross yes but don't forget last year in dollar terms the stock market was up thirty five percent ... and the chairman of the new capital from the Fed to from the was up close to fifty percent last year ... twenty outperformed the in the seas ... I don't think that these will be repeated maybe will go up another fifteen percent or so ... but in general I think a lot of my kids ... are that not terribly explains the Renault ... bargains any good news sounds like a soaring price twelve × topped the Barron's full conference I think it was in October ... I think the Chinese economy slowing down but the stock of the two will go up to the markets ... and the economy can move in different directions ... and said that there is a lot of central bank interventions that ... expectations buying basis while ... the central bank will do what makes ... and so in basis ironing the stops in the expectation that the ... Bank of China was thinking he's ... so into this sign environment where do you invest where were one of their money ... well I mean I think they are there for the first time in a long time since two thousand and seven teams thousand and eight ... actually some shorting opportunities ... some coconut shorting some ... sectors I thing is quite dangerous to short EU stops ... this um it may come and take him over ... the country line with the exit so ... that I would say that BdB you know some CDC's like the biotechnology index the Psalm and the very Heidi and ... social media ... ETA these are relatively high tea in my opinion ... Bibi other people at the frontier was ... or that the stops in that same icon Doctor ... I stopped eating dates is on the high side ... reading these are shorting opportunities I think ... you say in the least probably stayed a short ... although it's a very oversold and send them is a negative second rebound like the euro ... the police concerns about the U S dollar is enormous ... so we may have a setback in the rebound the euro's ... I think it at my bake ... he's the I cord short ... central banks I would short central banks into was out on and defeat in that is I think ... investors ... will suddenly realize ... what the scam central banking fees ... and then Daewoo was competence ... and based only one way to short central banks idea and I went to to buy gold ... ah so ... are you long gold are you three as on long gold up in great Moallem gold things that ... need nineteen nineties ... and dare I polls recently became more ... and I think if someone really wanted to make a lot of money in gold ... he's the higher your risk proposition Venetian by ... the small mining stocks like the TT exchange their junior year I guess that the ice data that tends to do with ... better than the old one it does well and were so a lesson that absolutely ... last year when gold went up by fifteen percent ... in the first few months ... of two was thousand and fourteen ... the GDX stayed with the forty percent so ... it's more much more what
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.