Marc Faber 's interview starts at around 21:08 in the video
Swiss investor and economic guru,Marc Faber, joins Rick from Hong Kong to discuss the "race to the bottom" that is the universal money printing by the world's central banks and why he ultimately foresees the U.S. transitioning into a completely planned economy.
Dr. Marc Faber, born February 28, 1946, is an investment analyst
and entrepreneur. Faber was born in Zürich and graduated in Geneva,
Switzerland, where he raced for the Swiss National Ski Team. He studied
Economics at the University of Zurich and, at the age of 24, obtained a
Ph.D. degree in Economics..
Faber has a reputation for being a
"Contrarian" investor and has been called "Doctor Doom" for a number of
years. Faber is a regular speaker on the investment circuit and best
known for the Gloom Boom & Doom Report newsletter. He has also
written several books.
Marc Faber came into this world on February 28, 1946, in Zürich,
Switzerland and graduated from the Zurich University with a P.H. in
economics when he was just twenty-four years old. Marc Faber is infamous
for his newsletter named the “Doom and Gloom” report as well as his
connection with a website which displays and highlights artwork by
Kaspar Meglinger named the "Dance of Death", which is a painting.
Faber was employed by the White Weld and Company Limited located in New
York as well as Zurich and Hong Kong. He later established his own
company which he named Marc Faber Limited. He has since settled in
Chiang Mai, Thailand but maintains a modest office in the Hong Kong
area. Nury Vittachi selected him as the subject of his biography of
Faber where he uses Faber’s well known nickname “Doctor Doom.” His
Doctor Doom news report can be found on Financial Sense Hour webpage
where current and archived streams can be accessed through win amp, real
player and windows media player. In his publications and news reports,
he frequently refers to other reports and resources that solidify his
statements, claims and opinions.
Faber is famously known for this nickname due to his long reputation of
being a contrarian (someone who argues against the popular and most
widely accepted opinion about concepts, ideas, beliefs etc.) investor.
He frequently guest speaks for many forums and television programs and
internet radio shows as well as engages the likes of the Barron’s
Roundtable. Although he is contrary, his points at many times seem
valid and hold a certain amount of credibility among his peers. He is
respected in his field and doesn't mind that people think of him as
being the doom guy. He calls things like he sees them and has had a
good run of success through the years.
Marc Faber Personal Info
Marc Faber Age – 66 Years old
Career Duration and Experience – 42 years
Current Service –Swiss Investor, writer and guest speaker, investment advisor concentrating on value investments
Investment Principles – Known as the “Doom and Gloom” investor
Notable Achievements:
· University of Zurich magna cum laude
· Raced in the Swiss Ski Team Nationally
· Famous for advising clients to back out of the stock market a week prior to before the crash in October 1987
· Author of The Gloom & Doom Report, employed by White Weld and Company from 1970 to 1978.
Additional information:
Marc Faber sits on a number of investment funds as advisor or director
in which focuses primarily on emerging and frontier markets for
companies like the Cambodia Fund and also Sri Lanka Holding Funds.
He founded and established Marc Faber LTD and concentrates on value
related investments which have a great upside which also have the
foundation of a contrarian investment type of attitude. Faber will also
often serve as fund manager for higher income clients. Faber likes to
make an appearance on the investment panel and his statements are
frequently quoted by the financial media solely because of his
individual alternative viewpoint which proves to be very a
non-conformist philosophy. His most infamous quotes advises investors to
purchase a U.S. bond to the sum of $100 U.S. dollars and give it as a
gift to their children, then force them to watch the value of the bond
diminish over the course of twenty years. However, Faber denies any
weight to his advising clients to back out of the market before the
crash in 1987 claiming it was merely coincidental.
Farber did, however, lose money by stock shorting in 1999, proving him
not so infallible, but he was vindicated later admitting the difficulty
of timing within the market. Otherwise, his track record proves that he
provides solid and more often than not very accurate market advice,
proven by his prediction of various commodities such as oil and precious
metals and with almost a third eye predicted the devaluing of the U.S
dollar over the last several years.
Faber has noted the lack of value investments aside from farmland and
some real estate provided through markets in Paraguay, Uruguay and
Russia. His thinking as he stated in 2007 was that there was an imminent
market correction on the horizon as quoted by Fox news in February
2007, and in March of that same year, he claimed that U.S. equities had
already been overvalued even less than newer markets. Bloomberg
interviewed him in June of ‘08 and sat through his views, which were
very bearish in nature, towards many different investment opportunities
such as stocks and commodities.
Marc Faber has been very skeptical of the inflationary actions of Fed’s
and assumes hyperinflation within the course of the next ten years. This
differs slightly from 2008 when he expressed bullishness in the
American dollar prior to its recovery and also the anticipation for yen
holding - Japanese currency. Faber does not expect recovery until
perhaps five or ten years from now.
Along with his publication “Doom and Gloom” (which highlights unusual
investment opportunities) Faber has authored many books in his endeavor
to shed light on the stock market and provide sound and stable advice
towards an ever changing stock market. He has also participated in the
creation of many leading publications throughout the world including
“International Wealth.” His book “Tomorrow’s Gold- Asia's Age of
Discovery” was initially published in 2002 and was listed as one of
Amazon's best sellers. It is currently being translated into several
languages such as Japanese, Chinese and German as well as Thai and
Korean. His attitude towards the American economy remains prolific and
controversial as he continues progressively in bearish jokingly remarks
about rebates from the feds, and foreign companies receiving money from
our American based companies. He also jokes about the foreign countries
that receive benefits from our use of oil and energy. Even as far as to
say that the only thriving part of American economy is prostitutes and
beer. That is a pretty bold statement to make, but this man clearly has a
mind of what is right or wrong and is not afraid to stand by the
beliefs that he holds.
Another thing, I believe THEY ALREADY TOOK OVER THE WORLD