Marc Faber discusses the significant moves in the stock market, gold & the U.S. dollar
Everyone wants to know whether this stock market sell-off is a buying opportunity or the first move in a long-term downtrend. Swiss investor Marc Faber joins Silver Doctors with a word of caution.
Faber doubts the majority of stocks will make new highs. In the next two years, many investors will not make money in equities, he says. The Fed will likely try to prop up the market through more accommodative monetary policy. He sees a possible rolling out of quantitative easing and a halt to rate raising. At that point, the Dollar will weaken.
When the Dollar weakens, people will turn towards gold, silver and platinum.
Dr. Marc Faber was born in Zurich, Switzerland and obtained a PhD in Economics at the University of Zurich. Between 1970 and 1978, Dr. Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In 1990, he set up his own business, Marc Faber Limited which acts as an investment advisor and fund manager. Dr. Faber publishes a widely read monthly investment newsletter, "The Gloom Boom & Doom Report," which highlights unusual investment opportunities, and is the author of several books including Tomorrow's Gold: Asia's age of discovery