Marc Faber is a famous Swiss investor and asset manager with a multi-million dollar net worth. Faber is known in the investing community as one of the bigger bears in the financial forrest. The guy even has a freaking newsletter titled: “Gloom Boom & Doom Report”. One of Faber’s biggest claims to fame is that he predicted the 1987 stock market crash and underlying recession.
Here’s some other extremely bearish comments from Faber as of late:
- In 2012, Faber claimed that there was a “100% chance” of a global economic recession later that year or in early 2013 (WRONG).
- On September 23, 2014, Faber said we have “bubbles everywhere” (Hasn’t fully materialized yet).
So, as you can see Mr. Faber seems to be consistently bearish. While he may get things wrong, at least his customers can trust that their asset manager is consistent in his convictions (lol)……
Marc Faber is Full Of Shit.
Case in point (courtesy of Josh Brown):
“Marc Faber, the 69-year-old investor who once said he doesn’t think he’ll see another bull market in his lifetime, told CNBC Wednesday that he believes a market rally could be forthcoming…Meaning the short-term market rally that he refers to would be a correction of oversold markets…the rally is part of the economic cycle, and will eventually crest into a recession in the long term.”
This quote shows Faber contradicting himself multiple times simultaneously. Total mind-fuck. And total malarkey. Faber basically just told people to buy everything while simultaneously selling everything. Want to know why?
EVERYONE IS FULL OF SHIT.