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
My worst investment decision so far is to lend money to friends. So far, it has all come to zero.
When it comes to money, the best investments were probably the ones I did not make.
The fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols... Very happy. Very good for the Fed. Congratulations, Mr. Bernanke.
Each money-printing exercise brings about unintended consequences. These unintended consequences are higher inflation rates than had no money been printed.
Credit expansion and money printing hasn't filtered much to ordinary people. It's boosted asset markets, real estate and stocks. So well-to-do-people have done very well.
I am pretty sure central banks will continue to print money, and the standards of living for people in the western world, not just in America, will continue to decline because the cost of living increases will exceed income. The cost of living will also go up because all kinds of taxes will increase.
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.
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.
Over the last six to nine months the economy has performed again much better.
Over my career, somewhere, somehow I must've made some right calls. Otherwise, I wouldn't be in business.
I would rather buy Indian equities than the S&P 500.
The politicians are all useless individuals. Nobody is reducing the problems in the U.S. or Europe, just putting on a Band-Aid and postponing the problems endlessly.
It's pointless to talk to Fed members about economics because they are academics who believe in money-printing. Some of them believe they didn't print enough, and so with these kinds of people, it is like running to the pope. What do you want to tell them?
The best way to deal with any economic problem is to let the market work it through.