I started to pay attention to Marc Faber was sometimes in the early 1980's. He is basically a contrarian investor and was better known as 'Doctor Doom'.
Since 1980's when gold was around US$300/oz, he has been a strong advocate in buying gold.
He was very famous in 1987 for able to advise his clients to get out of the stock market one week before the famous 1987 October 19 'Black Monday Crash'.
Dow dropped 508 points or 22.6% on that Monday from 2246 to 1738. As Hong Kong was ahead of US in time, Hong Kong's market started to give way on that Monday by dropping 421 points (11.1%) from 3783 to 3362. On Tuesday morning, after the US market has dropped 22.6%, the Hong Kong Stock Exchange unexpectedly suspended stock trading. After strong firing from the business community, trading was resumed on the following Monday on October 26, Hang Seng dropped 1,121 points from 3,362 to 2,241 for a 33.3% drop in a single day. I believe, on that day his clients could have worshiped him like God.
Marc Faber on Paper Money Part - 1 (March 2010)
Marc Faber on Paper Money Part - 2 (March 2010)
This one is more interesting
So, shift your money to Singapore and start buying Singapore stocks in the next round. Don't forget about plantation stocks.
Marc Faber : Signs of an Imminent Market Crash Are Here (June 2011)
.
No comments:
Post a Comment