crude oil stocks

Marc Faber Suggests Gold Should Make Up 25 Percent Of Portfolio

Earlier this month, I blogged about how Swiss-born investment advisor/money manager Marc Faber informed CNBC TV viewers he holds physical gold stored in safe deposit boxes.

Last Thursday, the publisher of the monthly investment newsletter The Gloom Boom & Doom Report talked more about the shiny yellow metal at a CFA Institute seminar in Chicago. Gail MarksJarvis reported on the Chicago Tribune website on July 22:

Faber told the investment professionals gathered in Chicago that they shouldn’t be prejudiced against gold. Although the typical investment pro keeps less than 1 percent of his or her portfolio in gold, Faber suggests 25 percent. He sees it as protection from a dangerous combination of tremendous government debt and massive bond-buying by central banks globally trying to fight off recession with near-zero interest rates…

(Editor’s note: Bold added for emphasis)

MarksJarvis also noted that “Doctor Doom,” as he’s often referred to by the financial news media, thinks there may be value in precious metals mining stocks.

This shouldn’t come as a surprise to regular Survival And Prosperity readers. I blogged back on May 24 about Faber’s statement the prior week to a CNBC TV audience that gold shares are one of “the most attractive assets in my view”- the others being oil and gas stocks.

By 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. Christopher E. Hill, 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 presented on the site.)

Source:

MarksJarvis, Gail. “‘Gloom, Boom & Doom’ economist pushes for gold.” Chicago Tribune. 22 July 2016. (http://www.chicagotribune.com/business/columnists/ct-marksjarvis-column-marc-faber-money-doom-0724-biz-20160722-column.html). 26 July 2016.

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Marc Faber: ‘Most Attractive Assets In My View Are Gold Shares And Oil And Gas Shares’

Swiss-born investment advisor/money manager Marc Faber was on the phone with the CNBC TV show Trading Nation last Wednesday. The publisher of the monthly investment newsletter The Gloom Boom & Doom Report talked investment strategy, and shared the following with viewers:

My view is that in June, [the Federal Reserve] will not move, that they will not increase rates. And that the market will begin to perceive that the Fed wants to support asset markets, which they have stated on numerous occasions before. And that in that environment, gold, which from now on may correct maybe 5 percent or so, will start to move up again. I think an investor should understand, we don’t know how far central banks will move around the world. We need to be diversified. To own some real estate makes sense. To own some equities makes sense. To own some cash and bonds probably makes sense. And to own some precious metals makes sense. The most attractive assets in my view are gold shares and oil and gas shares. I think they still have significant upside potential this year.

(Editor’s note: Bold added for emphasis)


“Marc Faber on investment strategy”
CNBC Video

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.)

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Marc Faber: ‘We Can Have A Relatively Strong Rally’ In U.S. Stocks Before Further Decline

Swiss-born investment advisor/money manager Marc Faber was on the CNBC TV show Squawk Box last Wednesday talking about U.S. stocks and where he thought they were heading. He shared with viewers:

I’d like to point out that the market in February became extremely oversold. And from this extremely oversold position, we can have a relatively strong rally. First of all, a lot of momentum stocks- they got hit very hard say in the first four weeks of the year. They are oversold, they can rebound. And secondly, many stocks are down 25 to 30 percent from their highs in 2015. And say the oil sector can could rebound by say 10-20 percent. So that could drive the market up to maybe around 2,050. But I don’t necessarily see new highs. And if new highs happen, they will happen with very few stocks participating…


“Dr. Doom: Oil sector could rebound 10-20%”
CNBC Video

Further out, the publisher of the monthly investment newsletter The Gloom Boom & Doom Report predicted:

We can have now a decline where stocks become oversold, then a rally, and then a further decline. And that’s what I would expect globally, because the global economy is slowing down very considerably.

By 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.)

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Marc Faber Doubts Fed Rate Hike In 2015, Buys Crude Oil Stocks

Swiss-born investment advisor/money manager Marc Faber was recently interviewed by Latha Venkatesh and Sonia Shenoy at CNBC-TV18 (India). The publisher of the monthly investment newsletter The Gloom Boom & Doom Report talked about a number of financial/investing topics- including a potential rate hike soon by the Federal Reserve. From a transcript of the discussion published on the Moneycontrol.com website on April 13:

Sonia: So, you are not expecting a rate hike from the US Fed this year?

A: What I said is in my view the Fed will not increase rates this year unless there is really a very sharp pick up in the economy or there is a colossal pot-hole developing in stocks. But otherwise I doubt it because the dollar has been strong. Okay, it may weaken somewhat, but I do not think it will collapse against the euro and against the yen and the British pound and so forth. So, the dollar is relatively strong. The economy in the US, the latest say, ten indicators that came out were all on the weak side. And under these conditions I doubt the Fed will increase rates. But that is an academic debate. What is important is I think the Feds and other Western Central Bankers will keep interest rates at a very low level for a very long time and will try to keep interest rates in real terms negative. In other words below the rates of cost of living increases.

(Editor’s note: Bold added for emphasis)

Dr. Faber shares the belief of fellow “crash prophet” Peter Schiff concerning an increase in the federal funds rate in the near future. However, Schiff has added that if the U.S. central bank does raise interest rates anytime soon, it will be miniscule.

Faber, who correctly forecast the rise of commodities, emerging markets, and China last decade, shares something else with a different “prophet.” From the transcript:

Latha: Yes, I note your exasperation. Therefore let me come to another asset class: commodities. Do you think they have bottomed or is it that there would be a long trough for this asset class?

A: We have to distinguish because the price of oil has very little to do with the price of orange juice or coffee. So each commodity has its own price dynamics driven by global production and global demand. Now industrial commodities have performed miserably along with emerging markets over the last couple of years because the demand was slowing down especially from China. So, you have prices of iron ore and steel and copper and oil that have collapsed. I happen to think that at this level a lot of commodities are reasonably priced, does not mean they will go up right away. But they come now into a buying rate and I have been buying some oil stocks recently.

(Editor’s note: Bold added for emphasis)

Last Sunday, I noted Yale economics professor Robert Shiller, who spotted the U.S. housing bubble last decade and the dot-com bubble a few years earlier, had purchased a crude oil ETF.

You can read the transcript of the entire exchange between Dr. Faber and CNBC-TV18 on Moneycontrol.com here.

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

(Editor’s notes: Info added to “Crash Prophets” page; I am 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 presented herein.)

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