Marc Faber

Marc Faber: ‘Very Likely’ Stock Market Will Suffer ‘87 Style Crash In Next 12 Months

The last time I blogged about Swiss-born investment advisor/fund manager Marc Faber, the man who became famous for advising clients to get out of the U.S. stock market one week before the October 1987 crash and for predicting the 2008 global financial crisis warned viewers:

I wouldn’t take the risk necessarily to be investing now in U.S. equities.

(Editor’s note: Bold added for emphasis)

That was back in late February.

These days, he has an even stronger message regarding U.S. stocks.

Yesterday, “Doctor Doom”- as the financial media likes to call him- was on the CNBC TV show Futures Now and warned viewers:

Well, I think this year- for sure, maybe from a higher diving board- the S&P will drop 20 percent. I think rather 30 percent. But, I mean, who knows? But all I’m saying is, it’s not a very good time right now to buy stocks. And I recommended to own stocks since 2009, because I saw that the money printing would lift equities. But at the present time, there are very few stocks that are particularly good value

I think it’s very likely that we’re seeing in the next 12 months an ’87 type of crash. And I suspect it will be even worse.

(Editor’s note: Bold added for emphasis)


“Marc Faber: Coming crash will be worse than 1987”
CNBC Video

By 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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Friday, April 11th, 2014 Crash Prophets, Investing, Stocks No Comments

MarketWatch On Jim Rogers: ‘Signs Are Suggesting He’s Right In His Gloomy Prognostication On Food Supplies’

I started blogging about investor, author, and financial commentator Jim Rogers back in the summer 2007, right after launching Boom2Bust.com, “The Most Hated Blog On Wall Street.” Rogers- who correctly called the commodities rally in 1999- was already talking up agriculture as a great investment opportunity seven years ago.

Time and time again on this blog, I’ve noted how bullish the former investing partner of George Soros is about the sector.

And yesterday, the financial website MarketWatch concluded the Singapore-based investor might be on to something.

From Karen Friar on The Tell blog:

What makes today’s comments more pointed is that signs are suggesting he’s right in his gloomy prognostication on food supplies.

Severe weather of different kinds, production constraints and other factors are pushing up prices of beef, bread and other staples (read: 10 foods eating into your budget). Plus, California — the U.S.’s agricultural heartland — won’t get any irrigation water this summer, despite being gripped by a drought. That should end up hitting consumer wallets, too. And even the crisis in Ukraine could end up putting pressure on grain markets…

(Editor’s note: Italics added for emphasis)

Naysayers love to bash Mr. Rogers and his investment predictions, trying to “call the game while it’s still in the early innings” (the same happens to fellow “crash prophets” Marc Faber and Peter Schiff- just look at the CNBC.com comments section underneath an article written about any one of the three). But I remember a British publication analyzing the outcome of his investing calls after he made that gloomy British pound forecast a few years back, and determining that more often than not Rogers is correct.

Chalk another one up for the CEO of Rogers Holdings and Beeland Interests, Inc.? I think it’s a little too early still to give Rogers full credit, but based on his track record I have a feeling he’ll get this agriculture call right too.

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

Source:

Friar, Karen. “Jim Rogers: Want to make money? Drive a tractor.” The Tell. 25 Feb. 2014. (http://blogs.marketwatch.com/thetell/2014/02/25/jim-rogers-want-to-make-money-drive-a-tractor/). 27 Feb. 2014.

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Marc Faber: ‘I Wouldn’t Take The Risk Necessarily To Be Investing Now In U.S. Equities’

Swiss-born investment advisor/fund manager Marc Faber appeared on India’s CNBC-TV18 on Tuesday. The man who became famous for advising clients to get out of the U.S. stock market one week before the October 1987 crash and for predicting the 2008 global financial crisis warned viewers:

I think that eventually we’ll get the sell-off globally. But before we get it, we may still have some way to climb. I wouldn’t take the risk necessarily to be investing now in U.S. equities. Approximately 40 percent of global imports are in emerging economies. If they do badly, then obviously it will hit the corporate profits of multi-nationals globally.

(Editor’s note: Italics added for emphasis)

Dr. Faber’s appearance on CNBC-TV18 can be viewed on the financial channel’s website here.

By 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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Marc Faber Shares Outlook And Advice At Barron’s 2014 Roundtable

Each year around this time, the weekly financial magazine Barron’s hosts their investor “Roundtable.” Swiss-born money manager and investment advisor Marc Faber was one of the participants in 2014, and starting on January 18 the publication started disseminating the investment advice of Dr. Faber and other Roundtable members. The financial website Zero Hedge zeroed-in on what the publisher of the monthly investment newsletter The Gloom Boom & Doom Report had to say at this year’s Roundtable. According to “Tyler Durden,” Dr. Faber:

• Is bearish on U.S. stocks, and the Russell 2000 in particular. Faber recommended shorting the Russell 2000.
• Is bearish on the U.S. economic recovery, recommending the purchase of 10-year Treasury notes
• Has a lot of cash, has bought Treasury bonds, and has about 20 percent of his net worth in gold. Regarding the precious metal, Faber went so far as to “recommend the Market Vectors Junior Gold Miners ETF [GDXJ], although I don’t own it. I own physical gold because the old system will implode. Those who own paper assets are doomed.”
• Offered up his investment forecast for Asian real estate, India, Vietnam, and Turkey and it’s currency- the Lira

The piece provided good insight into Dr. Faber’s investment outlook and activities, which you can read in its entirety on the Zero Hedge website here.

By Christopher E. Hill
Survival And Prosperity (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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Marc Faber: ‘The Global Economy Is Slowing Down’ While ‘Gigantic’ Financial Asset Bubble Persists

“Goldman Sachs thinks talk of financial bubbles is misguided, and the firm is encouraging its wealthy clients to keep their money in relatively expensive sectors such as U.S. technology stocks and high-yield bonds.

‘Stay fully invested- we don’t have bubble troubles yet,’ Sharmin Mossavar-Rahmani, chief investment officer for the bank’s investment strategy group, said at a press briefing in New York last week.”

-CNBC.com, January 14, 2014

“Doctor Doom” Marc Faber appeared on Bloomberg Television’s Street Smart earlier today. The Swiss-born investment advisor and fund manager discussed the impact of Federal Reserve policy on the global economy, Bitcoin, and financial markets. On the markets, Dr. Faber told viewers:

I think we are in a gigantic financial asset bubble…

I think we are very stretched. Sentiment figures are very, very bullish. Everybody’s bullish. And the reality is that they’re very bullish because they think the economy will accelerate on the upside. But my view is very different. The global economy is slowing down. The global economy is largely emerging economies nowadays. They’re slowing down. There’s no growth at the moment in exports in emerging economies. There’s no growth in the local economies. So I feel that the valuations are high. The corporate profits have been boosted largely because of the falling interest rates…


“Faber Sees ‘Gigantic’ Asset Bubble, Slowing Growth”
Bloomberg Video

By 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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Jim Rogers ‘Ultra Bullish’ On Gold Long-Term

While a good amount of “dislike” has been directed at gold lately, it really ramped up to a new level starting December 30. Later that afternoon I noticed the headlines on the financial mainstream media websites emphasizing (extra big and bold in a number of cases) the price of gold getting pummeled in 2013. For example, there was this on the Financial Times (UK) website Friday:

8:58am On Wall Street from MARKETS
Gold bulls lose faith in bullion’s allure
Last year’s losses battered the metal’s reputation as a store of value
• Gold funds lose lustre
• Gold miners braced for reserve cuts
• Little glitter for gold in 2014
• Gold set for biggest drop in 30 years

All that in one section of the site. The above is pretty typical of what I’ve been seeing the last couple of days across the Internet.

And reading all the negative press, I have to wonder if now might not be a good time to acquire gold. Especially as “crash prophets” Marc Faber, Jim Rogers, and Peter Schiff are bullish on the yellow metal in the long run.

According to a recent report in a prominent international, web-based publication focusing on all aspects of the mining sector, Rogers, a well-known investor, author, and financial commentator, is actually “ultra bullish” on gold in the long term. Alex Williams wrote on Mineweb.com on New Year’s Eve:

Rogers prefers gold over gold mining shares and divisible coins over bullion, but says “there’s nothing in precious metals that I’m tempted to buy at the moment.” Indian import tariffs he views as the single biggest drag on the gold market currently…

For early 2014, Rogers is therefore long inflatable equities and neutral on gold, but longer term, he expects to short junk and government bonds and is ultra bullish on gold. “Gold will become one of the only refuges around,” he says. “That’s not this quarter.”

(Editor’s note: Italics added for emphasis)

It’s no secret that the Singapore-based investor sees gold doing well over the long haul. Back on August 5, I noted that Rogers had recently appeared on GoldSeek.com Radio’s The Gold and Silver Review show. Speaking to Chris Waltzek on the August 2 show, Rogers predicted the following for gold:

Eventually, we will make a new low, whether it’s this year, next year, or the year after. And then, of course, the bull market will resume. And we’re off to the races and wonderful new highs will be made. But it may be a few years from now.

By 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.)

Source:

Williams, Alex. “Bernanke has set the stage for the Fed’s collapse- Jim Rogers.” Mineweb.com. 31 Dec. 2013. (www.mineweb.com/mineweb/content/en/mineweb-political-economy?oid=222934&sn=Detail). 3 Jan. 2014.

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Marc Faber Shares 2014 Predictions

“Doctor Doom” Marc Faber shared his 2014 predictions on the CNBC/Yahoo! Finance investing show Talking Numbers on December 19. The Swiss-born investment advisor and fund manager predicted the following for next year:

1. The S&P 500 won’t surpass its November 19, 2013, high of 1,813
2. Facebook, Tesla, Twitter, Netflix, and Veeva Systems are “grossly overvalued,” and shorting a basket of these stocks will return at least 30 percent next year
3. Physical precious metals, gold shares, and Vietnamese stocks are “buys”

On precious metals, the publisher of the monthly investment newsletter The Gloom Boom & Doom Report told viewers:

Given all the money printing that is going on globally- not just in the U.S.- and given that the total credit as a percent of the advanced economies is now 30 percent higher than in 2007 before the last crisis hit, I think that gold is a good insurance. So I would buy some physical gold here…

I’d rather buy something that is reasonably priced. And I think gold shares are very inexpensive. So a basket of gold shares, I think, next year could easily appreciate 30 percent.

Dr. Faber was bullish on other equities as well. He said:

I think the Vietnamese stock market, which this year was up 22 percent- which is not bad for an emerging market- will continue to go up.

You can watch the entire Talking Numbers segment with Marc Faber on the Yahoo! Finance website here.

By 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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Peter Schiff Bashes QE, Taper Lite, Gold Bears

“Gold Set for Worst Annual Tumble Since ‘81”

-FOX Business website headline, December 23, 2013

“Gold’s safe-haven role is over: strategist”

-MarketWatch.com headline, December 23, 2013

“I wouldn’t buy gold with my worst enemy’s cash: Strategist”

-CNBC.com headline, December 22, 2013

Not only have I been waiting to hear Euro Pacific Capital CEO Peter Schiff’s take on last week’s “taper” of the Federal Reserve’s quantitative easing program, but also his opinion on the latest bout of gold selling.

Schiff, who correctly called the recent housing crash and 2008 global economic crisis, just uploaded a new entry to The Schiff Report, his YouTube video blog. Schiff told viewers on December 20:

We have never had more stimulus- both monetary and fiscal- than we have right now. This is record-breaking, Keynesian stimulus. And it’s barely working. Yes, it’s inflating a stock market bubble. It’s inflating a real estate bubble. But it’s not creating genuine economic growth. And it never will. It is not raising living standards for the vast majority of Americans. And it isn’t creating productive, high-paying jobs. And it never will. And Ben Bernanke doesn’t understand that.

Like fellow “crash prophet” Marc Faber, Schiff believes the Federal Reserve will eventually pursue more, not less, bond-buying in the future. He explained:

Why did gold sell off? “Because everything is great.” “Because the Fed has done the impossible.” “It’s tapered and it hasn’t hurt anything.” This is what everybody believes. That the Fed has accomplished its goal. It hasn’t done anything. It’s talked about doing a tiny bit. But again, as far as I’m concerned, monetary policy is even easier now than it was before they announced this trivial taper lite. And the rest of the taper is probably never going to happen because the Fed is going to have to buy more bonds, not fewer bonds, to keep this whole house of cards from imploding.

Now, is gold going to continue to fall? I don’t know. My gut is that it’s probably still finding a bottom around 1,200. There is plenty of legitimate support for gold all around the world. Yes, all the speculators who are convinced that everything is great. The same people that thought it was great in 2007. Or it was great in 1999. That crowd, completely clueless about actual economics, is convinced that there is no reason to own gold. And so, they’re going to sell it, they’re going to short it. But there is a larger community around the world, particularly I think a lot of the emerging markets, central banks, China in particular, that see it differently. And they’re using this opportunity to buy as much gold as they can so that when the speculators and the investors figure out how wrong they’ve got it, and they realize that they need to be buying gold not selling it, there won’t be any gold left to buy because they would have already sold it. And the people who bought it from them aren’t going to sell it back. The gold that China bought- they’re never going to sell it. I don’t care how high the price of gold goes. They want that gold as reserves for their currency because they know the dollars that they have in reserve are eventually going to be Monopoly money. It’s going to be confetti. So they need something real to back up their own currency, and they want gold.

And so, I think that we need to be taking advantage of this opportunity. And don’t be worried about all the negativity that’s out there and all the professionals who are writing gold’s obituary. They’ve written it before, they’ll write it again. But I still think that the bull market has a long way to go. Ultimately, we are still heading for a currency crisis.


“Taper Lite: Bernanke Tightens Monetary Policy by Easing it!”
YouTube Video

By 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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Marc Faber Predicts ‘Tapered’ QE Will Rebound, Go ‘Substantially Higher’

Okay- time to talk money and investing this week. Swiss-born investment advisor and fund manager Marc Faber appeared on CNBC’s Futures Now last Tuesday and talked about the future of the Federal Reserve’s now $75 billion monthly bond-buying program. “Doctor Doom” predicted:

They will never end QE for good. They will continue. But the programs, once they are introduced- they usually keep on going. They may do some cosmetic adjustments. But in my view, within a few years, the asset purchases will be substantially higher than they are today.

The editor/publisher of the monthly investment newsletter The Gloom Boom & Doom Report added later:

Economic recovery, or so-called recovery, by June of next year will be in the fifth year of the recovery. So at some stage the economy will weaken again, and at that point, the Fed will argue, “Well, we haven’t done enough, we have to do more.”


“Marc Faber: The Fed will never end QE”
CNBC Video

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

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Marc Faber: ‘We Are In A Gigantic Speculative Bubble’

Swiss-born investment advisor and fund manager Marc Faber issued another warning about stocks being in a bubble this past Friday. Appearing on CNBC’s Squawk Box, “Doctor Doom” told viewers:

I’ve been quite positive for equities after 2009 when they became very cheap. But recently I have to say that we are once again in a massive financial bubble in bonds, in equities. We are in a bubble in asset prices that have gone up dramatically. Farmland is up ten times over the last ten years. And Bitcoins are up now. And who knows what next will go up. But, we are in a gigantic speculative bubble. And as I have said, I haven’t shorted any stocks yet because they may still move up. But I don’t see any value in stocks any longer, except very few sectors…

So I think that financial assets, if you look at the next five to ten years’ expected returns, but these returns will be very low.

Now can the market go up another twenty percent before it tumbles? Yeah, it can go up even more, if you print money.


“Marc Faber: No value in stocks”
CNBC Video

Dr. Faber, who became famous for advising clients to get out of the U.S. stock market one week before the October 1987 crash, also warned of a bubble in financial assets on CNBC’s Fast Money on November 19. He said:

I see a bubble in everything that relates to the financial sector. We have a bubble in bonds. We have a bubble in low-quality bonds. We have a bubble in equities. If you look at the financial sector as a percentage of the global economy, it’s very large. We have a huge debt bubble, and it’s only getting bigger. It’s not getting any smaller.

So we are the bubble. Everything that is in the financial sector is the bubble, and it’s been pumped up by central banks.

I don’t know about you, but talk about bubbles seems to be growing these days.

By 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.)

Source:

Navarro, Bruno J., “Superbear Marc Faber sees opportunities.” CNBC. 19 Nov. 2013. (http://www.cnbc.com/id/101212211). 1 Dec. 2013.

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Marc Faber Sees Bubbles In Bonds, Stocks, Debt, And High-End Sector

While “crash prophet” Jeremy Grantham sees only a “few signs yet of a traditional bubble” in stocks, “Doctor Doom” Marc Faber thinks otherwise.

In fact, the Swiss-born investment advisor and fund manager sees the whole financial sector as being very bubbly these days.

Faber appeared on CNBC’s Fast Money last Tuesday and warned viewers:

I see a bubble in everything that relates to the financial sector. We have a bubble in bonds. We have a bubble in low-quality bonds. We have a bubble in equities. If you look at the financial sector as a percentage of the global economy, it’s very large. We have a huge debt bubble, and it’s only getting bigger. It’s not getting any smaller.

So we are the bubble. Everything that is in the financial sector is the bubble, and it’s been pumped up by central banks.

Now within the big bubble, I think the high-end sector is probably a huge bubble. You know- pink diamonds, the prestige art, and luxury.


“Uber bear Marc Faber gets a little bullish”
CNBC Video

The editor/publisher of the monthly investment newsletter The Gloom Boom & Doom Report revealed he owned stocks in European telecom companies, utilities, and blue-chip companies in Switzerland.

By 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.)

Source:

Navarro, Bruno J., “Superbear Marc Faber sees opportunities.” CNBC. 19 Nov. 2013. (http://www.cnbc.com/id/101212211). 25 Nov. 2013.

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Jeremy Grantham: Next Stock Market Bust ‘Sometime Within Two Or Three Years’

I just finished reading the latest installment (covering Q3 2013) of Jeremy Grantham’s quarterly investment letter. Grantham is the co-founder and chief investment strategist of Grantham, Mayo, Van Otterloo & Co. (GMO), and has a special talent for correctly-calling the direction of the financial markets. In “Ignoble Prizes and Appointments,” Grantham predicted yet another market “bust” shortly. Grantham wrote:

But back to Yellen, who has happily gone along with the failed Fed policy of hoping madly for a different outcome despite repeating exactly the same thing. The past consequences of this strategy have been so dire on two occasions and threaten to be just as bad again sometime within two or three years.

(Editor’s note: Italics added for emphasis)

Unlike fellow “crash prophets” Marc Faber and Peter Schiff, Grantham doesn’t think stocks are in a bubble. Yet. He declared:

In equities there are few signs yet of a traditional bubble.

But added:

I would think that we are probably in the slow build-up to something interesting – a badly overpriced market and bubble conditions. My personal guess is that the U.S. market, especially the non-blue chips, will work its way higher, perhaps by 20% to 30% in the next year or, more likely, two years, with the rest of the world including emerging market equities covering even more ground in at least a partial catch-up. And then we will have the third in the series of serious market busts since 1999 and presumably Greenspan, Bernanke, Yellen, et al. will rest happy, for surely they must expect something like this outcome given their experience. And we the people, of course, will get what we deserve. We acclaimed the original perpetrator of this ill-fated plan – Greenspan – to be the great Maestro, in a general orgy of boot licking. His faithful acolyte, Bernanke, was reappointed by a democratic president and generally lauded for doing (I admit) a perfectly serviceable job of rallying the troops in a crash that absolutely would not have occurred without the dangerous experiments in deregulation and no regulation (of the subprime instruments, for example) of his and his predecessor’s policy. At this rate, one day we will praise Yellen (or a similar successor) for helping out adequately in the wreckage of the next utterly unnecessary financial and asset class failure.

(Editor’s note: Italics added for emphasis)

Due to the Brtish-born investment strategist’s superb track record in calling the stock markets, when he talks, I listen. Attentively.

In the meantime, Grantham- whose individual clients have included Secretary of State John Kerry and former Vice President Dick Cheney- had this to say about U.S. equities:

In the meantime investors should be aware that the U.S. market is already badly overpriced – indeed, we believe it is priced to deliver negative real returns over seven years – and that most foreign markets having moved up rapidly this summer are also overpriced but less so. In our view, prudent investors should already be reducing their equity bets and their risk level in general.

(Editor’s note: Italics added for emphasis)

One of the most insightful investment letters yet from the “crash prophet,” which you can read in its entirety on the GMO website here (.pdf format).

By 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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Marc Faber Reveals Gold Investments

This afternoon I want to pick up where I left off last night (couldn’t keep my eyes open after a long couple of days away from home!) on the latest investment activities and recommendations from the “crash prophets.” I already mentioned Jeremy Grantham. Now lets talk about “Doctor Doom” Marc Faber. The Swiss-born investment advisor and fund manager appeared on Canada’s only all-business and financial news television channel BNN last Wednesday and talked precious metals.

On gold, when asked how much of an investment portfolio should be in the yellow metal, Dr. Faber replied:

Well, that depends. Say, if you owned a lot of real estate, your requirements for gold are not as high as if someone has all his money in financial assets. I have an overweight in financial assets. I own real estate- but not that much. So I have a relatively large allocation to gold- something like 25 percent… But I don’t value gold- I just weight it every year.

(Editor’s note: Italics added for emphasis)

Faber chuckled and added:

I wished that they would do that with the Federal Reserve. Because nobody has yet audited all these governments who claim they have that much gold. Maybe they don’t have it. Maybe they lent it out already.

The editor/publisher of the monthly investment newsletter The Gloom Boom & Doom Report was also asked about silver. He responded:

I think the commodities- the precious metals- will all move in the same direction. Some may move faster than others. Some people think that silver is a better value today than gold. Other people- and I tend to agree- that maybe platinum is the best precious metal right now.

(Editor’s note: Italics added for emphasis)

Finally, the man who made a name for himself in financial/investing circles for reportedly advising clients to get out of the U.S. stock market one week before the October 1987 crash, talked about gold stocks. Dr. Faber told viewers:

Gold shares outperformed gold until 2010-11. And since then, they grossly underperformed. Many gold shares are down 50, 80 percent from their highs. And I think if someone wanted to speculate and buy shares like a warrant on the price of gold he would buy some smaller gold companies.

(Editor’s note: Italics added for emphasis)

When asked about names, Faber mentioned Ivanhoe Mines (formerly Ivanplats), NovaGold.

He conclued the Business News Network segment by revealing:

I stick to physcial gold largely, and I have some holdings in shares like Newmont, American Barrick, Freeport-McMoRan.

(Editor’s note: Italics added for emphasis)

A terrific interview by BNN host Andrew Bell, which you can watch on the channel’s website here.

By 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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Marc Faber: Crude Oil Probably ‘The Most Attractive Commodity’ Among Industrial Commodities

“Doctor Doom” Marc Faber was recently interviewed by The Economic Times (India). In a November 8, 2013, video segment on the Times website, the Swiss-born investment advisor and fund manager shared his thoughts on gold and crude oil:

The price of gold at this level is not terribly high compared to the wealth creation in the world compared to the expansion of the central banks’ balance sheets compared to the tech explosion and so forth and so on. So ja, I continue to recommend people that they allocate some of their money to gold. I prefer physical gold, but I have to say that numerous gold mining shares are now very inexpensive. Crude oil is probably, among the industrial commodities, the most attractive commodity because the supply of oil could be interrupted at some point.

Source:

“Prefer buying physical gold: Marc Faber.” The Economic Times. 8 Nov. 2013. (http://economictimes.indiatimes.com/et-now/commodities/prefer-buying-physical-gold-marc-faber/videoshow/25453685.cms) 10 Nov. 2013.

By Christopher E. Hill, Editor
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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Marc Faber Talks Gold Prices, Gold Stocks

I want to talk money the rest of the evening. First up is none other than good old “Doctor Doom” Marc Faber. The publisher of the monthly investment newsletter The Gloom Boom & Doom Report was interviewed by Barron’s last week, and had this to say about gold:

Well, basically, it’s been a very good investment until September 2011 when it peaked out at $1,921 and since then, it’s been in a correction mode. We have a lot of bearish sentiment, a lot of bearish commentaries about gold. But the fact is that some countries are actually accumulating gold, notably China. They will buy this year at the rate of something like 2,600 tons, which is more than the annual production of gold. So I think that prices are probably in the process of kind of bottoming out here, and that we will see again higher prices in future. I think the gold shares are also not terribly expensive at this point.

When asked about gold mining stocks, the Swiss-born investment advisor and fund manager replied:

Yes, the gold shares. The miners. The exploration companies. I think numerous exploration companies will not make it. So if you buy exploration companies you should buy the ones that have already raised capital or that have sufficient reserves that they’ll survive another few years if there is no upturn in prices. Because at this price of gold, very few projects will get done.


“Marc Faber on Gold, Miners, and China”
Barron’s Video

By Christopher E. Hill, Editor
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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Christopher E. Hill, Editor
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