Marc Faber

Marc Faber: ‘The Most Desirable Currency Will Be Gold, Silver, Platinum, And Palladium’

Swiss-born investment advisor/money manager Marc Faber was on the phone with the CNBC TV show Fast Money last Tuesday. When asked if he is bullish on gold and “is that inherently a call on the U.S. dollar as well?”, the publisher of the monthly investment newsletter The Gloom Boom & Doom Report responded:

Yes. I don’t understand why the world is so enthusiastic about the U.S. dollar. I think in the long run the U.S. dollar will be a weak currency… I think that actually the U.S. dollar, provided the Fed doesn’t cut interest rates again and provided the Fed doesn’t introduce negative interest rates, provided all these conditions, I think the U.S. dollar should be okay. But it’s not a desirable currency. And that’s why I think the most desirable currency will be gold, silver, platinum, and palladium.


“How terror impacts markets: Marc Faber”
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 Shares Investment Strategy To Combat The ‘Mad Professors’

Despite being out of the loop for a week due to the flu, I see the “crash prophets” are still running at full-throttle. I just got finished listening to an interview of Swiss-born investment advisor/money manager Marc Faber that was released on the King World News- Broadcast February 20. When asked by Eric King about his thoughts on gold, the publisher of the monthly investment newsletter The Gloom Boom & Doom Report told listeners:

In this environment, you just don’t know how far the mad professors will go. Looking forward, we all don’t know how the world will look like in five years’ time, ten years’ time. I would hold some real estate. I would hold some stocks. I would hold some bonds and cash. And some precious metals. I happen to believe that the precious metals have probably bottomed out, but I cannot send you a guarantee for that. I don’t know, for sure.

“Dr. Doom,” as the financial news media likes to call him, added this prediction for 2016:

I believe the stock markets around the world will end the year lower. But it will depend on how much money the central bankers will print.

On February 18, Lucy Meakin, Ranheetha Pakiam, and Eddie Van Der Walt reported on the Bloomberg website:

“Leave a million dollars with a bank, and in a year, you get only something like $990,000 back,” Marc Faber, the publisher of the Gloom, Boom & Doom Report, said by phone. “I would rather want to own some solid currency, in other words gold.”

Dr. Faber talked more about the yellow metal- and his outlook for the U.S. economy and equities. From the piece:

It’s more tempting to own a non-yielding asset such as gold when returns on other investments are hard to find, according to Faber. He said in December that the U.S. is at the start of a recession and its stocks would fall this year.

Getting back to that King World News show, Faber also directed listeners of explore a particular type of stock (13:15) and area of real estate (18:58) to counter the “mad professors.” A good interview, which you can listen to in its entirety here on the King World News website.

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.)

Source:

Meakin, Lucy, Pakiam, Ranjeetha, Van Der Walt, Eddie. “Gold Bulls Feast as More Central Banks Drive Rates Below Zero.” Bloomberg. 18 Feb. 2016. (http://www.bloomberg.com/news/articles/2016-02-19/gold-bulls-feast-as-more-central-banks-drive-rates-below-zero). 22 Feb. 2016.

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Marc Faber: ‘The Reality Is That We’re Already Now Almost In A Recession’

The “crash prophets” are running at full-throttle these days. Swiss-born investment advisor/money manager Marc Faber was on the CNBC TV show Fast Money last Monday, and in addition to predicting “volatility will stay very high” in the stock market, he warned viewers:

The U.S. market has been holding up much better than other markets and now it’s adjusting to reality, and the reality is that we’re already now almost in a recession. We’re in an industrial recession… But of course media people and financial people- they don’t feel the recession yet because they’re in the wonderful service economy that is booming. But ordinary people are not booming, that I assure you.


“The world according to Faber”
CNBC Video

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

(Editor’s note: 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: ‘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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Marc Faber: ‘There Is No Safe Asset Anymore’

Let’s turn away from my neck of the woods for now and focus on what the “crash prophets” are saying (and more importantly, doing) these days in the midst of major volatility in the financial markets. First up is Swiss-born investment advisor/money manager Marc Faber. The publisher of the monthly investment newsletter The Gloom Boom & Doom Report appeared on Bloomberg TV’s Market Makers on September 2, and when asked which asset class he thinks “offers either safety or the prospect of meaningful capital appreciation for more than the short term,” Dr. Faber told viewers:

I think that because of modern central banking and repeated interventions with monetary policy, in other words with QE, all around the world by central banks, there is no safe asset anymore. When I grew up in the fifties it was safe to put your money in the bank on deposit. The yields were low but it was safe. But nowadays, you don’t know what will happen next in terms of purchasing power of money. What we know is that it’s going down. And I would say if I had to turn anywhere where, as you say, the opportunity for large capital gains exists, and the downside risk in my opinion limited, it would be the mining sector, specifically precious metals. Mining companies, in other words, gold shares. And I would also look at, as you just mentioned before, stocks like Freeport, Newmont, American Barrick that have been hammered because of falling commodity prices. Now commodities may still go down for a while, but I don’t think they’ll stay down forever…

I would rather focus on precious metals- gold, silver, platinum- because they do not depend on industrial demand as much as base metals as industrial commodities.


“Mark Faber: There Is No Safe Asset Anymore”
Bloomberg Video

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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Must-Read Marc Faber Interview

Regular readers of Survival And Prosperity know on Sundays I try and blog about the latest investment activities/recommendations of the “crash prophets”- Marc Faber, Jeremy Grantham, Jim Rogers, and Peter Schiff. This week, three of the “prophets” are sounding off. First up is Marc Faber. An interview of the Swiss-born investment advisor/money manager was published Friday on the website of MarcoPolis, a Paris-based international online publishing company. Johnnes Maierhofer and Peter Matay conducted one of the most comprehensive interviews of Dr. Faber I’ve ever come across, writing on MarcoPolis.net:

In this exclusive interview with Marcopolis.net Marc Faber covers it all: from commodities and China to the outlook on inflation, the Euro and gold. According to him the global economy is not healing. To the contrary, we might find ourselves back into recession within six months or a year. In that case he expects more money printing by central banks, which eventually could lead to high inflation rates and renewed strength in commodity prices.

On the bright side, he sees great economic potential in Vietnam. Also, the Iraqi stock market has good potential now that a deal with Iran has been reached. While mining stocks are extremely depressed we might see defaults before any meaningful recovery…

Followers of Faber know he’s been a gold bull for years now. The publisher of the monthly investment newsletter The Gloom Boom & Doom Report said this about the precious metal (and other investments of his) during the exchange:

I own gold and it doesn’t worry me that it went down because as I mentioned to you I have this diversification, the bonds in US dollars and the cash in US dollars has been a good investment essentially over the last twelve months. Then I own equities and I own properties in Asia that have been reasonably good investments so the fact that gold is going down doesn’t worry me and I buy every month a little bit but I think on this weakness I will increase the position substantially because I had maybe say 25% in gold but because equities and properties went up, the dollar went up and gold went down, the allocation to gold is no longer 25% but maybe only 10 or 15%.

So then I have to stock it up again. But I would say an individual should definitely own some physical gold…

“Doctor Doom” believes gold confiscation is a possibility, and added later in the discussion:

I think they will take the gold away and go back to some gold standard by revaluing the gold say from now 1000 dollars an oz. to say 10,000 dollars an oz…

A “must-read” interview for Faber followers, which you can access in its entirety on MarcoPolis.net 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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Marc Faber Identifies Investment Opportunities

Swiss-born investment advisor/money manager Marc Faber was in Chicago Thursday giving a presentation at the CFA Analyst Seminar. The publisher of the monthly investment newsletter The Gloom Boom & Doom Report warned his audience that all asset markets are overvalued- just like he did late last month when he said “everything is in a bubble” on the Fox Business Network (blogged about here).

That being said, “Doctor Doom” does see opportunities in real estate and emerging markets stocks, and likes cash to be able to acquire assets when bubbles pop.

There’s also gold. Timothy Pollard, covering Dr. Faber’s Chicago visit, reported on the Pensions & Investments website Thursday afternoon:

And of course, given his bearish stance, Mr. Faber recommended holding gold in a portfolio — his recommended allocation is 25%.

“Gold is insurance if the banking system fails,” he said. “As an investor I’d like to own something outside the banking system, and that includes real estate, art and gold.”

(Editor’s note: Bold added for emphasis)

Just last Tuesday, I noted that fellow “crash prophet” Peter Schiff tells people to have ten to fifteen percent of their portfolio in gold.

Pollard went into more detail about Dr. Faber’s presentation- and the investment opportunities he’s identified- on the Pensions & Investments website here. It’s an insightful read.

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 Warns Of Massive Deflation In Asset Prices, Shares Buy Recommendations

Monday, Swiss-born investment advisor/money manager Marc Faber was on the phone with Trish Regan of the FOX Business Network show The Intelligence Report. The publisher of the monthly investment newsletter The Gloom Boom & Doom Report warned viewers that:

Everything is in a bubble.

Dr. Faber subsequently predicted massive deflation in asset prices was coming. When Regan asked him what he would recommend people buy, the man famous for advising clients to get out of the U.S. stock market one week before the October 1987 crash offered up:

I tell you it will be very difficult to hide, because even bank deposits may not be safe. But, relatively inexpensive are gold mining shares, silver mining shares, and physical gold and silver. But you have to hold it physically and preferably outside the U.S.

(Editor’s note: Bold added for emphasis)

Regan asked Faber why outside the United States. He replied:

Because in the U.S., and even in Europe and Switzerland, there is a threat that one day when things really will go bad, central bankers will blame the gold holders for the disaster, and they will say, “We’ll have to take the gold away,” and so forth. This is less likely to happen in Asia.

(Editor’s note: Bold added for emphasis)


“Marc Faber warns of ‘colossal systemic risk’ in markets”
FOX Business Network Video

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: ‘I Think We Could Very Well Be In A Recession In The U.S. Within 6 Months’

Swiss-born investment advisor/money manager Marc Faber was on the phone with Brian Sullivan of the CNBC TV show Training Nation earlier today. The topic was the Federal Reserve. Responding to Sullivan’s assertion that the U.S. economy has “done well,” the publisher of the monthly investment newsletter The Gloom Boom & Doom Report replied:

But I don’t think the U.S. economy is doing particularly well. One of the problems is affordability and cost of living increases. For most households, the cost of living has gone up very substantially, and so their spending power is limited. In addition to that, if you look at tax revenues in the U.S., corporate tax as a percent of GDP is essentially flat. However, what has gone up a lot as a percent of GDP- individual taxes. So, it has some negative impact on the economy, and I think we could very well be in a recession in the U.S. within 6 months.

(Editor’s note: Bold added for emphasis)


“Marc Faber on the Fed”
CNBC Video

To be fair, while Dr. Faber is noted for making some great money-related calls (he’s famous for advising clients to get out of the U.S. stock market one week before the October 1987 crash), from a Survival And Prosperity post back on May 30, 2012:

“Doctor Doom” Marc Faber did a live interview on CNBC’s Fast Money last Friday in which he warned of a fast-approaching global economic recession. Here is an excerpt from the exchange between the Swiss-born investment adviser/fund manager and CNBC’s Scott Wapner:

WAPNER: You’re not looking for a recession though here in the United States, are you?
FABER: Well, I think that we could have a global recession sometime, say, starting in the 4th quarter of this year, early 2013. Yes, that’s a distinct possibility.
WAPNER: Where would you put it at, if it’s on a scale of, say what, 50 percent possibility, 1 in 3 chance? Where would you rate it?
FABER: I would rate it at 100 percent certainty…

(Editor’s note: 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)

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

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