Marc Faber: ‘I Think The Markets Will Still Go Lower’

For the rest of the day, investing will be the focus of discussion here on Survival And Prosperity. Turning to the “crash prophets,” Swiss-born investment advisor/money manager Marc Faber was interviewed by CNBC-TV18’s Surabhi Upadhyay this past weekend. When asked if he still thought U.S. stock prices would end up falling 40 percent, the publisher of the monthly investment newsletter The Gloom Boom & Doom Report replied (from a transcript of their exchange):

What I said is that the market in the US would decline between 20 and 40 percent from the high rates last May, which was on the S&P 2,134.

(Editor’s note: Bold added for emphasis)

After U.S. stocks closed higher Friday for their first positive week in four, “Doctor Doom”- as the financial press likes to call him- warned:

I think the markets will still go lower. What we can have is the difficulties — if you print money, basically something will go up and in the case of the last few years what has gone up meaningfully are stocks but that after 2011, stocks did no longer go up…

(Editor’s note: Bold added for emphasis)

If he’s not bullish on U.S. equities, what is Dr. Faber’s recommending to investors these days? Mark O’Byrne , executive, marketing, and research director at Dublin-based international bullion dealer GoldCore, wrote on their blog last Wednesday:

Marc Faber, editor of the “Gloom, Doom & Boom Report,” has advised investors that now is a good time to invest in gold

Faber says investors would be prudent to diversify into safe haven in gold bullion which has risen 3% this year and is currently at $1,096 an ounce…

Faber favours allocated and segregated coin and bar storage in Singapore.

(Editor’s note: Bold added for emphasis)

Singapore?

Back on May 11, 2015, I blogged about an interview of Dr. Faber by Simon Black over at Sovereign Man, a provider of global financial intelligence and solutions. In the exchange that was uploaded to the Sovereign Man website on May 8, Faber told listeners:

The only currencies that I regard as significantly undervalued at the present time are the precious metals- silver, gold, platinum, palladium. And I would advise any investor to have at least some money in precious metals. The problem is, as a very informed reader of mine said, if precious metals really one day work out- in other words, gold goes to $10,000 an ounce- you can be sure that the government will take it away from you. That is a threat.

As you know in the world- since you are running an organization Sovereign Man- there is a move to curtail freedom, and there is a move to abolish paper money… If I were your listeners and I held gold, if paper money is abandoned or banished, about the last thing you want to hold is gold because it will be taken away as well. So you better close down your accounts at Citi, in my view. Put your money somewhere, anywhere in the world, except in U.S. banks.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; a qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

Sources:

“Sensex could fall to 20K; China growing at 2-4%: Marc Faber.” CNBC-TV18. 23 Jan. 2016. (http://www.moneycontrol.com/news/fii-view/sensex-could-fall-to-20k-china-growing-at-2-4-marc-faber_5120561.html). 25 Jan. 2016.

O’Byrne, Mark. “Invest In Gold Now As Stock Market To Crash- Faber.” GoldCore.com. 20 Jan. 2016. (http://www.goldcore.com/us/gold-blog/invest-in-gold-now-as-stock-market-to-crash-faber/). 25 Jan. 2016.

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