Tracking Dr. Marc Faber of The Gloom Boom and Doom report , Marc Faber nicknamed Doctor Doom , a world class investor and a regular speaker at various investment seminars, Dr Marc Faber is well known for his "contrarian" investment approach.
Marc Faber is back and his New Year’s
resolution did not include a dose of optimism when it comes to the
economy. He was back on Fox Business for his first interview of 2014,
and the themes remain the same. Faber even tosses in a mock
congratulations towards outgoing Federal Reserve Chief Ben Bernanke on
the job well done.
The interview, while clocking in at under four
minutes, was wide ranging. But with Marc Faber, you know the publisher
of the Gloom, Doom and Boom Report is going to get back to his central
premise of owning physical gold as a form of insurance. Kicking off the
interview was the old standby of the resurgent housing market.
McDowell wanted to know why people shouldn’t jump back into the housing
market as a hedge against inflation. Maybe she saw the plunge in
mortgage applications and got the word to start pumping people up again.
Marc Faber pushed back, saying that all the Federal Reserve has done is
rebubbled the housing market with the QE market. Hard to argue the
point. Look at mortgage rates pricing people out of the market, and the
number of cash-only sales.
Unless there has been a sudden boom of
people unearthing caches of cash in their backyards, those are not your
typical middle class buyers. Marc Faber maintains that home prices do
not represent a great opportunity today, and in fact it forces people
into renting at ever increasing rates.
His solution? Diversify.
Does he think you can make all your money back on gold if you invested
at the beginning of last year? Not necessarily, but that doesn’t mean
you do not have some in your portfolio. Add in bonds, equities and real
estate for a balanced portfolio. He does not buy into the hype
surrounding the ever surging markets.
Actually, for a guy a that
is normally thought of as a doomer, his advice sounds more sound than
the mainstream who sits around and screams about the next momentum
stock. And judging by the way gold is acting today, it is off to a
better start this year than last.
- Source, Trade the News Room
Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.