Subscribe via Email:

Friday, December 28, 2012

Marc Faber – The Fundamental Fact About Oil

Marc Faber : “One hears all kinds of forecasts that oil prices will tumble and some are forecasting oil prices to go up substantially. There are all kinds of views. The fundamental fact is simply that not only for oil but for other commodities as well the production cost has risen very substantially. So I think that new oil will cost at least around $60-70 a barrel for the exploration and the capital investments.”
“Therefore, I do not think that oil has a huge downside risk, but we live in a volatile world. In July 2008 we were at $147 a barrel and within six months, we dropped to $32 a barrel in December 2008. I would not want to necessarily go short on oil for the simple reason that the situation in the Middle East is deteriorating at an accelerating pace.”
- Marc Faber in an ET Interview

Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Marc Faber – Recommended Christmas Reading List

This year, I reread some books I had not looked at for years.
Milton Friedman’s “Capitalism and Freedom” is an excellent collection of brief essays about a wide range of subjects. It’s a reminder that larger and larger involvement of government in a society comes at a cost. The larger the government is, the more economic and financial volatility, the less growth and the less personal freedom will follow. This is the book you must give for Christmas to your entitlement-spoiled children.
I particularly recommend Will Durant’s “The Greatest Minds and Ideas of All Time,” edited by John Little, for hedge-fund managers who have their eyes glued to Bloomberg terminals all day. In a few chapters, Durant — whose seminal work is “The Story of Civilization” and whom I consider one of the great historians — expresses his views about the “The Ten ‘Greatest’ Thinkers,” “The Ten ‘Greatest’ Poets,” “Twelve Vital Dates in World History,” “The One Hundred ‘Best’ Books for an Education” and other subjects. Durant also had a very human touch. When asked in an interview, “Of all the characters populating ‘The Story of Civilization,’ whom would you have most liked to have known?” he responded, “Madame de Pompadour … because she was beautiful, she was charming, she was luscious — what else do you want?” (I agree, although my choice would have been Cassandra.)
The third book I am still reading — Joseph A. Tainter’s “The Collapse of Complex Societies.” It’s a difficult read and there’s no hurry for me to finish it since Tainter observes “that the problem is not that states collapse (for this happens constantly) but rather that some states last so long.” So let us be cheerful for the U.S. as its society will only collapse once the Facebook generation becomes mature and completely brain-damaged.
- Marc Faber excerpt from Bloomberg

 Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.

Popular Posts