Sunday, September 30, 2012

Some Sectors like Housing in the U.S are Improving

Marc Faber : “I think some people in the US, actually the ECRI already say that the US is in a recession. But of course we have to consider the following, an economy is a very large vessel, there are different sectors. And some sectors are improving like housing in the U.S. is improving. The problem with improvement in housing is that stocks have already gone up very substantially, they more than tripled from their low. And so we are ahead of ourselves. The Greek stock markets from its low is up more than 60%, so a 20% correction is nothing unusual.” - in Fox Business News
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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.