Marc Faber
Marc Faber
Marc Faberis a Swiss investor based in Thailand. 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. Faber also serves as director, advisor, and shareholder of a number of investment funds that focus on emerging and frontier markets, including Leopard Capital’s Leopard Cambodia Fund and Asia Frontier Capital Ltd.'s AFC Asia Frontier Fund...
NationalityAmerican
ProfessionBusinessman
Date of Birth28 February 1946
CountryUnited States of America
I believe that the market is slowly waking up to the fact that the Federal Reserve is a clueless organization. They have no idea what they're doing. And so the confidence level of investors is diminishing, in my view.
I wouldn't buy the Indian stock market today. It is not a bargain. If it goes too much higher, it could easily halve. Chinese shares, which were very expensive, are now more reasonable.
When you have a perfect free market, it's difficult to predict the future. But when you have a market that is disturbed by government manipulations and money-printing, it's impossible to make any predictions.
Market forces will one day crush the Federal Reserve. One day, the market forces will reverse.
In the 40 years I've been working as an economist and investor, I have never seen such a disconnect between the asset market and the economic reality... Asset markets are in the sky, and the economy of the ordinary people is in the dumps, where their real incomes adjusted for inflation are going down and asset markets are going up.
The best way to deal with any economic problem is to let the market work it through.
My view is that the U.S. market will eventually join the emerging markets on the downside because if you take a bearish view about emerging economies, you cannot be too optimistic about the U.S. because for many U.S. corporations, 50 percent or more of their profits come from emerging economies.
The Japanese share market will strongly outperform New York in the next five years, ... The enormous cash reserves from private households and companies, the money they keep under their mattresses, will flow into the economy.
Each money-printing exercise brings about unintended consequences. These unintended consequences are higher inflation rates than had no money been printed.
There's no such thing as a favorite investment. But I think I tend to invest in Asia in promising countries, in equities, in real estate, and I own precious metals, obviously.
When it comes to money, the best investments were probably the ones I did not make.
I am surprised with the reelection of Mr. Obama. The S&P is only down, like, 30 points. I would have thought that the market on his reelection should be down at least 50%.
I would rather buy Indian equities than the S&P 500.
Every central banker in the world pays attention to credit growth, but not in the U.S.