Wednesday, November 4, 2015
Dr Doom Calls Bubble, adding to Gloomy Calls
The Federal Reserve has inflated an asset bubble and that`s going to damp market returns, perma-bear Marc Faber, publisher of The Gloom, Boom and Doom Report, told CNBC Tuesday. "Say you`re a young person and you`re just starting to work. So take me in the 1970s. In the US, with 20 hours of work, I could buy the SandP 500. Now you need more than 90 hours of work to buy the SandP 500 if you`re young, with a medium income," Faber told CNBC in an interview. "The Fed has basically created with their colleagues in Japan and at the European Central Bank (ECB) and the Bank of England (BOE), they`ve created a colossal asset bubble. And the returns going forward will be disappointing."
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.