Saturday, January 10, 2009

GloomBoomDoom Marc Faber Interview

This one of the best interviews we have seen. Nothing new but there are some things he said which is quite refreshing! Basically, the summary of this interview on 1 Dec 2008 is:
1)Buy and hold strategy is dead.Warren Buffet's approach is dead for 10 years and will be dead for another 10 years ........MEOW!
2)US and China economy is a total disaster
3)He is bullish on Gold
4)He thinks Treasury bonds is the next bubble
5)He thinks the global economy will take at least 5 years to recover
6)China's reserve of 2 trillion dollars in reserve is not much in proportion of the 1.3 billion population size.
7) The Chinese is not a good example on how to invest money as they has most of their holdings in USD treasury bills
8) Central bankers are making things worse by printing more money and should let more banks fail
9)Corporate bonds is worth to invest in
10)He expects the economy to go down very badly in 2009 and be a total disaster.

Marc Faber - Part 1

Marc Faber - Part 2

Important: The objective of the articles in this blog is to set you thinking about the company before you invest your hard-earned money. Do not invest solely based on this article. Unlike House or Instituitional Analysts who have to maintain relations with corporations due to investment banking relations, generating commissions,e.t.c, SGDividends say things as it is, factually. Unlike Analyst who have to be "uptight" and "cheem", we make it simplified and cheapskate. -The Vigilante Investor, SGDividends Team

2 comments:

  1. He is also known as Dr Doom and apparently have a healthly sense of humor (from wikipedia)

    "The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer/Software it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I've been doing my part."

    I guess he is pretty right that major markets have reached the maturity stage where they will be in the same trading band of peaks and trough for next 15-20 years. Hmm...have to rethink passive index investing :)

    He leans to the Austrian economics school with no surprise, like the other Dr Doom - Peter Schiff. The best article I had read with regards to modern fiat economy and central banking. Send the chill down my spine...

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