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Marc Faber (aka Dr. Doom) is an investment analyst and entrepreneur born in Zürich, Switzerland.
Faber’s company, Marc Faber Limited, acts as an investment advisor company concentrating on value investments with tremendous upside often based on contrarian investment philosophies. Faber also invests and acts as a fund manager to private wealthy clients. Faber is a regular speaker on the investment circuit, often quoted in the financial press for his non-conformist viewpoint and alternative investment philosophies. His current — if eccentric — tagline is: ‘buy a $100 US bond and frame it to teach your children about inflation by watching the US bond value diminish to almost nothing over the next 20 years’.
Faber is famous for advising his clients to get out of the stock market one week before the October 1987 crash.[citation needed]
A lot of people[who?] say that he gets the trend right, but the timing wrong. The prime example was his calling NASDAQ top and advising investors go long commodities, including gold, in 1999.[citation needed] He lost money shorting US stocks since 1999. Now he admits that market timing is very difficult. His market advice since 2000 is quite accurate and he predicted the rise of oil, precious metals, other commodities, emerging markets and especially China in his book (Tomorrow’s Gold: Asia’s Age of Discovery). He also correctly predicted the slide of U.S. dollar (since 2002)[citation needed] and the 5/06 and 2/07 mini-corrections[citation needed]. He states that there are few value investments available now, except for farmland and real estate in some emerging markets like Argentina and Vietnam.[citation needed] He believed in early 2007 that a major market correction was “imminent.” (Fox News, 2-2007); however, by 5/2007 he was saying that the U.S. equities were moderately overvalued -less so than the emerging markets.
His most recent interview (June 2008, see external link for Bloomberg) goes over his bearish views on a wide spectrum of investments: stocks, real estate and commodities. He is extremely critical of the Fed’s inflationary actions. However, his recent views are almost deflationary except for holding precious metals.
Go to http://www.goldiac.com/ to buy gold and silver.
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