Marc Faber is to financial-market optimists what the Grinch is to Christmas. The Hong Kong-based investment manager and publisher of “The Gloom Boom & Doom Report” doesn’t often like what he sees, and nowadays he finds even less to like about the world’s economic situation than he did in 2008 — as if that wasn’t bad enough.
In an interview with MarketWatch’s Jonathan Burton, Faber outlines five places where investors should put – and pull out – their money. Namely: avoid Treasurys and cash, selectively buy stocks, stick with emerging markets, and load up on gold.
Faber, also known as “Dr. Doom,” believes that Federal Reserve policy is stoking speculation over savings and debasing the U.S. dollar, hyperinflation is a real possibility, the stock market’s recovery since 2009 has favored the rich and powerful, cash is trash, and gold and land in the countryside are the only true safe havens.
“The Federal Reserve is a very evil institution,” Faber said with characteristic bluntness, “in the sense that they punish decent people who have saved all their lives. These are people who don’t understand about stocks and investments, and suddenly they are forced to speculate.” Read full story.
In an interview with MarketWatch’s Jonathan Burton, Faber outlines five places where investors should put – and pull out – their money. Namely: avoid Treasurys and cash, selectively buy stocks, stick with emerging markets, and load up on gold.
Faber, also known as “Dr. Doom,” believes that Federal Reserve policy is stoking speculation over savings and debasing the U.S. dollar, hyperinflation is a real possibility, the stock market’s recovery since 2009 has favored the rich and powerful, cash is trash, and gold and land in the countryside are the only true safe havens.
“The Federal Reserve is a very evil institution,” Faber said with characteristic bluntness, “in the sense that they punish decent people who have saved all their lives. These are people who don’t understand about stocks and investments, and suddenly they are forced to speculate.” Read full story.
