Saturday, July 7, 2012
Marc Faber: Investing opportunities in Italy, Portugal & Spain
Question : Yesterday (05 July) The ECB cut its base rate to a historic low and the conditions for release of collateral to banks. This will help Europe?
Marc Faber : I do not think so. I think whatever now the government will undertake may postpone the problems but it does not solve them , and the problem is too much debt. I mean I would say how long would the Germans essentially be willing to finance the excess consumption in Spain, Italy, Greece and Portugal and so forth . And I would like to add that although the situation is not ideal in these countries and these countries are close to the lows in 2007-2008 and may even fall even lower, there are decent companies in Spain Italy and Portugal that are now relatively cheap and in which Today, in my opinion is worth investing. I see real value there.
Dr. Marc Faber Tomorrow's Gold
Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager.
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