Tuesday, February 2, 2016
Marc Faber : It's about Amazon versus Facebook
Marc Faber, editor and publisher of The Gloom, Boom and Doom Report is a notorious investing bear and is negative on the tech darlings.
"These are wonderful companies, for instance Amazon you need to give them credit as they upset the retail space globally but it is a question of valuation. The Facebooks of this world, Amazon and Google - these are highly priced companies," said Faber.
Others disagree and argue that on a longer term horizon valuations might even look well placed.
"These companies still have tremendous earnings power," said Jean Medecin, Member of Investment Committee, Carmignac.
"It's about Amazon versus Facebook, what kind of earnings growth can you deliver? The valuation remains right - today Facebook is generating around $17 billion of revenue. This is what Google used to generate in 2007 and today Google is making $60 billion of revenues. It's not the fact that they have grown so much they can't grow anymore, it's really whether they have a great market and great earnings power," he said.
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.