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camistocks (< 20)

Marc Faber CNBC interview from July 17 (50 min.)

Recs

10

July 20, 2009 – Comments (5)

Marc Faber was on CNBC Asia on Friday July 17. He enjoys his image of a gloom and doom sayer, but it's not what he really is. He specializes in detecting very rewarding investments and spotting bubbles. Faber was bullish on stocks in March when most of the people were super-bearish. He thinks the stock market rally could last up to 18 months and the "ultimate crisis" to happen in 5-10 years...

As usual in his outspoken way and with his own special sense of humor... (unfortunately there may be ads before each clip). Enjoy...

 

huge deficits will create inflation and make stocks rise. "ultimate crisis" in 5-10 years (7:40 min.)

 

 

when markets are about to break down and they don't, expect a counterrally. Deflationists are wrong to buy bonds (4 min.)

 

 

People should hold some hard assets like gold and like real estate... especially in Singapore, because if there is WW3 nobody would drop a bomb on it, because it's politically irrelevant. Expects a big move in the markets (7:43)

 

 

If economy doesn't recover, a new stimulus program will be announced (=money printing). Increase exposure to Asia, except Japan. Buy blue chip stocks (also in the USA) (8:05)

 

 

a huge crisis like we had should clean the mess, but problem has been postponed because of interventions. This will lead to the "ultimate crisis" sometimes ahead and "it will be a total collapse, it will be wonderful..." ;-) (2:40)

 

 

Because of the quantity of money and debt created in the past 15years, gold will be much higher years ahead. New crash in stocks in a few years (3:28)

 

 

Chinese government only government to know official growth rates 3 years ahead... Sentiment in the stock market was so extremely bearish early this year, and now analysts are already increasing their projections. This makes him worry. Does not expect new lows, but a meaningful correction. (9:28)

 

 

Cash is made undesirable by governments/central banks with artificially low interest rates and forcing people to speculate. That's why the big crisis is yet to come. Doesn't think that fiscal deficits will shrink in the US (4:21)

 

 

 

5 Comments – Post Your Own

#1) On July 20, 2009 at 10:02 PM, portefeuille (99.60) wrote:

Hi, always a pleasure to listen to some Faber words!

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#2) On July 20, 2009 at 10:19 PM, awallejr (85.43) wrote:

While I have respect for Marc Faber's opinions, I think he is stretching it a bit by predicting 5-10 years out.  Anything can happen during that time period.  I do think he was being sadistic with his "it will be wonderful" comment if a total collapse should occur.  While he will be sipping pena coladas on his estate somewhere in Asia, millions upon millions of people will be suffering as a result. 

With that aside, rec for an interesting "watch."

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#3) On July 21, 2009 at 12:56 AM, jesusfreakinco (28.90) wrote:

Excellent set of videos.  Wish I could rec x2

JFC

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#4) On July 21, 2009 at 1:28 AM, uclayoda87 (29.26) wrote:

Nice set of interviews.  Thanks for the collection.

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#5) On July 21, 2009 at 8:20 AM, portefeuille (99.60) wrote:

Buffett's Approach to Investing is Dead: Dr Doom

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