Monday, October 19, 2015
Marc Faber on why it is Difficult to Invest in Technology
“In the late 1960s, it was [all about] mainframe computers and semiconductors [before] the whole thing collapsed. Then came mini-computers, and these also collapsed. In the 1990s, the internet boom came and 80% of these companies are [now] gone. In 1990, Cisco went public, and it was a success story until 2000. Dell was a huge success until 2000. After that, [these stocks] weren’t great stories. “We all agree that technology is driving the world, or the world is driving technology. But it is also very fickle. Look at Netscape — where is it today? [Look at] AOL and Time Warner. Yahoo! hasn’t performed well in the long run. “There are new companies coming up, but you and I don’t know whether the world will still be using Facebook in five years. I mean they will use it, but to what extent will it make money and to what extent will it still grow? By then, everybody in the whole world would have a Facebook [account] and to grow [further] would be more difficult. So, it is difficult to invest in technology.” -- via www.theedgemarkets.com
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.