Marc Faber`s Investment and Trading Ideas - A Tracking Blog About Dr. Marc Faber , Daily Tracking of Dr. Marc Faber Investment Strategy , Market analysis & Outlook and Media appearances
Marc Faber : ...You can have a recession that has some inflationary symptoms in the system and so in a global recession what will also happen is that tax revenues will collapse and the fiscal deficit will go ballistic , so the quality of government paper will deteriorate , I think may be if you believe in bonds you might be better off in corporates bonds of high quality companies " says Marc Faber in 07 June 2012 on Bloomberg TV Click here to watch the full interview>>>>
Marc Faber, editor of the Gloom, Boom and Doom report, says this in an e-mail: "The Nasdaq was in a bubble at the end of 1999. It still managed to rise 30% to the March 2000 peak. Thereafter, it was all the way down. Possibly Treasuries rally more, but after a bull market, which began in September 1981, we are surely approaching a major low in interest rates. I am sure that over the next 10 years investors buying today U.S. 10-year T-notes and 30-year bonds will lose a ton of money." - via USA Tooday
Marc Faber:
"I'm convinced that Europe is actually in recession today ... There is a meaningful and more substantial slowdown in China than the official statistics would suggest. At the present time there probably is hardly any growth at all, so that slows down the demand for industrial commodities. That then slows down the production in countries that produce industrial commodities. So you have essentially a chain, a vicious spiral going through the global economy, which means that corporate profits in the U.S. ... will disappoint" - in Fox Business News
Marc Faber : ...If you had asked me about the NASDAQ in December 1999 I would have said it is the biggest bubble ever and yet the NASDAQ continued to go up 30 percent until March 21st 2000 , and then what happened to the NASDAQ ...it's been a disaster and I think the government bonds bubble will also burst but I do not know tomorrow or in three months I suspect it actually may be sooner than later because the consensus is now buy US Government Bonds , I can see why people buy US Government bonds .....
Click here to watch the full interview>>>>>>
Marc Faber : " ....so in Europe what you have are many shares of good quality companies that are yielding 5 to 7 percent , so I am saying they are relatively attractive compared to cash and to bonds , I am not saying that they will go up and in fact I think the global bear market has begun and we are gonna go lower , but if you look ten years out , I think if you buy a ten years US treasury at a yield of 1.6 percent that is the maximum you will earn whereas companies who have dividend yields of 4 to 7 percent I think they will provide you with higher returns ..." says Marc Faber on this 07 June 2012 on Bloomberg TV
June 7 (Bloomberg) -- Marc Faber, publisher of the Gloom, Boom & Doom report, talks about his strategy for global stocks, bonds, commodities and currencies. Faber speaks with Sara Eisen on Bloomberg Television's "InsideTrack." (Source: Bloomberg)
Marc Faber : The best outcome for Greece probably would be to exit the euro zone. But the new Greek drachma would depreciate by 50% to 70% against the euro. The Greeks don't want their pensions paid in a depreciating currency. Nor do they want austerity, as their pensions and government salaries would be cut by 50%. " Marc Faber explains in the new issue of Barron's
Marc Faber : "I am also warming to Gold shares. Gold corrected to $1,522 last December from $1,921 in September. It rebounded to $1,795 in February and is back down around $1,600. The correction could last longer, but given that governments will print more money, gold is relatively effective as a currency. My preference is physical gold, but I would also own some gold shares, which have been decimated.
"
- In the new issue of Barron's
Marc Faber : "There is no resolution to the problem in Europe because no one wants to accept austerity."
"The best outcome for Greece probably would be to exit the euro zone. But the new Greek drachma would depreciate by 50% to 70% against the euro. The Greeks don't want their pensions paid in a depreciating currency. Nor do they want austerity, as their pensions and government salaries would be cut by 50%
"
- In the new issue of Barron's
Marc Faber : "I'm not sure that Gold will not make a new high this year, but I think we've bottomed out and some gold mining shares have become very very inexpensive compared to the reserves they have.
And i think that in the current environment where it is clear that the worse the economy becomes the more the money printers will be at work, that to own a currency whose supply can not be increased at the will of some clowns that occupy the central banks is a desirable investment."
- in Bloomberg TV
Marc Faber : .......Well I think that if you look at electricity production, cement production , steel production, it's essentially flat to down vis a vis a year ago and these are very important indicators the housing market and construction has slowed down, so i think these are very meaningful signs indicators that the economy is hardly growing at the present time. and then you look at the demand for iron and for copper coming from china, it essentially all flat to down, otherwise prices wouldn't be so weak. so i think that i would rather rely on those statistics. but I'd just like to mention one point and i think you should ask Jeremy Siegel about this, you know, everything looks bad at the present time and people are relatively bearish. at the same time you have the ten years note at less than 1.5% and you have say a stock like Johnson & Johnson yielding almost 4%. I'm not saying that Johnson & Johnson won't go down along with the rest of the market, I'm just saying if you have a time horizon of ten years, i believe you're going to make more money in Johnson & Johnson than in u.s. government bonds -
in Squawk Box CNBC Click here to watch the full interview>>>
Marc Faber : I am convinced that Europe is in a recession today, if you add every country. and I think there is a very meaningful and more substantial slowdown in china than the official statistics would suggest, probably there is at the present time hardly any growth at all. and so that slows down the demand for industrial commodities and that then slows down the production in countries that produce industrial commodities and their demand. so you have essentially a chain, a vicious spiral going through the global economy, which means that corporate profits in the and don't forget about 40% of corporate profits are outside and of that I would imagine about 50% is in europe, that corporate profits will disappoint.” -
in Squawk Box CNBC Click here to watch the full interview>>>
Marc Faber, Siegel Agree: Buy Stocks Instead of Bonds ,"The ECB should ensure all the deposits of the major banks in the euro zone," says Jeremy Siegel, of the Wharton School at The University of Pennsylvania. Meanwhile Marc Faber, "The Gloom, Boom & Doom Report," shares a bearish view on China. Harry Wilson, former Silver Point Capital partner, weighs in.
Marc Faber : I find it quite funny this talk about an exit strategy or an exit point because that they don’t have. And I think there will be no exit, but continuation of money printing. But I have to give credit to Mr. Bernanke. If I were in his shoes in the current situation, with the S&P having risen to 1422 the other day, I wouldn’t have embarked on QE3. I would rather wait and announce there won’t be any QE3 for the time being or depending on market conditions or on economic conditions and wait what happens, and if the market sells off 100 points on the S&P or 200 points, say it dips down to 1200 on the S&P, then come up again as the big savior of the whole financial system by implementing QE3 - in financialsense
Marc Faber : Well, basically in Asia we have a lot of inflation and much more than what the government published. I mean prices are going up substantially and the economies are still doing reasonably well because we have a competitive advantage and we have to make the consumption growth. But, basically there’s a difference, I mean everywhere I go in the world there’s one thing that strikes me. You go to a luxury hotel, there’s Maserati’s, Ferraris, Bentleys, Jaguars, and so forth in front of the hotel and the ordinary people are struggling. I see that everywhere. And, so I think that in Asia we have also imbalanced growth and we have widening social divisions and rising social tensions and I also think that the Chinese economy, which grew a trend line between 2000 and 2007, and they printed money, had huge fiscal debt, and so forth and they are now in a significant slowdown period. I’m not talking about the stock market. Maybe the stock market goes up because of money printing. All I’m saying is the economy is slowing down very significantly which will have implications on the global economy. - in chrismartenson interview
Marc Faber : Personally, I think that the Greek issue has been completely overplayed and misinterpreted. The climax of the Greek issue was in, say, October/November of last year and everybody was very bearish on what happened because of the bailout of Greece. And the market’s rising very strongly: we have more than 25% from the October 4th low when the S&P was at that one thousand and seventy-four. So I think that the Greek issue is not market determining. In other words, the market focuses on other issues that are more important. - in chrismartenson interview
Marc Faber : ...But how the Chinese economy is doing, you only need to watch at the industrial commodity prices and how weak they have been , because if you look at the year's 2000 to today, industrial commodity prices and the chinese stock market correlated very closely. Ande so when industrial commodity prices are weak, it tells you something about the health of the Chinese economy and I think the Chinese economy is much weaker than what analysts suggest - in CNBC Click here to watch the full interview >>>>>>
Marc Faber : well, I think the next danger level would be an outright default by Greece and may be by some other countries that would be a danger level . But as I said, it may be be better to take the loss now , it would have been better to take the losses three years ago and the longer you postpone it, the more likely you will eventually have a gigantic systemic failure.
I think the market will be relieved if finally Greece exited the euro and there would be some clarity. it wouldn't be good for bank shares and insurance company shares but in general I think the markets in Europe are now very oversold and on an exit of Greece, I think the markets would rally because that would be some solution, maybe not the best solution, the best solution would have been never to accept Greece into the eurozone to start with , but it would be some solution and I think the markets would actually rally - in CNBC 25 May 2012
Marc Faber interviewed by Fox Business News ( 31 May 2012 ) on the Potential for a Market Crash in the Fall
Gloom, Boom & Doom Report Editor Marc Faber on the potential for a market crash."If we had a new high on the S&P in other words above 1422 in the summer say in July August , I think a crash will likely follow in the fall in other words in October November and will bring stock prices down very meaningfully " says Marc Faber
Marc Faber : I’ve learned that what I know I obviously learned from someone. I didn’t invent it. So I worked at White Weld with Gary Schilling and he’s a friend of mine; I see him occasionally at the conferences and so forth. And I disagree with him about that we have deflation. He lives in New Jersey. I went to New York airport the other and day and then I drove to New York City and the Lincoln Tunnel fee has just increased from $8 to $14. Well, I’m sorry, that is a 50 percent increase. And so there is no deflation in the system today. But if you say there is deflation in the housing market, yeah, there has been deflation in the housing market and if you ask me will there be one day a deflationary collapse, yes, one day there will be a deflationary collapse, but you understand, as an investor it’s nice to say there will be a deflationary collapse, but it could happen from Dow Jones 100,000 or gold price 20,000 or from home prices that are much higher than today and from a dollar that has depreciated much more than is the case today.
So the difficulty for the investor is actually to navigate between today and the time of collapse that I think is inevitable. But how do you protect your wealth in the meantime and in the time of collapse? Investors, and I think they have to begin to think about this already today and say, okay, what does it mean if there is a global kind of deflationary collapse.
In a deflationary collapse, everything essentially goes down in value, but obviously, like in an inflationary boom, in an inflationary boom you have different assets that go up at different times with different intensity. So let’s say if you look at 2000 to today, you were better off in gold and commodities than in equities. Now, in a deflationary collapse, the key is to say, okay, I’m only going to lose 50 percent when everybody else will lose 90 percent. So relatively speaking, I will be much better off. And that is the strategy that investors should consider: How to position themselves to lose less in the deflationary collapse in the final crisis than the majority of people. Then relatively to other people, their position will improve. - in the Financial Sense Newshour
Marc Faber : "What I think will happen is that Germany will show more flexibility and issue more euro bonds.
"More bonds will challenge the quality of the euro. That's why the euro has been very weak, lately." - in CNBC Click here to watch the full interview>>>>>
Marc Faber : “I think the market would be relieved if finally Greece exited the euro . There would be some clarity. Although it wouldn’t be good for banks and insurance (stocks) in general I think markets are oversold and with an exit " markets would rally.”- in CNBC Click here to watch the full interview>>>>>
Marc Faber : "There are more and more stocks that are breaking down " economic sensitive stocks and companies that cater to the high-end,"
"That suggests to me the economy is likely to weaken and the huge asset run is likely to come to an end with significant asset deflation."- in CNBC Click here to watch the full interview>>>>>
Marc Faber : " other issues, bigger issues are looming. And they’re more threatening.
“As an observer of markets " whenever everyone focuses on one thing " like Greece and Europe " maybe they miss issues that are far more important " such as a meaningful slowdown in India and China.” - in CNBC Click here to watch the full interview>>>>>
Marc Faber : I think what should happen I just mentioned a week ago namely that Greece and some other countries should exit the eurozone but what will happen is probably that Germany will show more flexibility and that eventually they will issue eurobonds and so the whole quality of the euro will diminish and that have already been reflected in the market place in the sense that the euro has been very weak and I happen to think that now the euro is on the oversold side and that it has the potential to rebound somewhat along with the stock markets in the world " says Marc Faber “I think we could have a global recession either in Q4 or early 2013. That’s a distinct possibility.”
Marc Faber : look, I have to laugh each time people talk about austerity. the fact is in 2000, up to 2011, government spending in the euro zone has risen by 76%. where is the austerity? government spending as a percent of the economy has grown from 44% to 49 there has been no austerity. government spending continues to increase and it is suggested to be financed by higher taxes. higher taxes gives more money to the bureaucrats so they can install more regulatory bodies to hamper businesses and harm business developments.
Marc Faber: The Market may rebound somewhat not make new high and then they'll probably drift and then from the highs which we reached from April 2nd on the S&P at 1422 I think will drop something like 20 / 30 percent then I think the market will become oversold and become again reasonably good value
- in Bloomberg Click here to watch the full interview>>>>>
Marc Faber : I think the attention may be focused on Greece because everybody can blame their wrong forecast on Greece they can say Oh the markets are going down because of Greece or they can say the markets are going down because of the loss of JP Morgan not an easy explanation , but the fact that industrial commodity prices are so weak has nothing to do with Greece at all it has to do most likely with very meaningful slowdown in china and possibly even a crash in the Chinese economy
- in Bloomberg Click here to watch the full interview>>>>>
Marc Faber: well we liquidated and reduced equity positions in the period of February to April of this year and now I am basically setting on cash , US Dollars , I don't think that we will get a new bull market from around this level I prefer to wait until better opportunities arise ...
- in Bloomberg Click here to watch the full interview>>>>>
Marc Faber : I think that most people would be relieved if finally Greece was kicked out of the EU which should have happened right away in other words it (Greece) should have never joined the EU , and when the first signs three years ago occurred that Greece was having very large fiscal deficit the EU should have taken measures and kicked out Greece from the EU and the damage would have been much smaller than what it is at the present time
- in Bloomberg Click here to watch the full interview>>>>>
Marc Faber : ...Not right now because the market has become very oversold and usually in an election year we get some kind of a rally from late May onward and also there is some seasonal strength from late May to August so I do not think the crash will happen right away but equally I do not think that the markets are in a position to make new highs because the technical damage is very considerable
- in Bloomberg Click here to watch the full interview>>>>>
John Williams & Chris Waltzek - Goldseek Radio - May 22, 2012
JOHN WILLIAMS IS CORRECT HE WARNS OF A HYPERINFLATIONARY GREAT DEPRESSION LOOMING IN THE UNITED STATES .
John Williams : I’ve been a consulting economist for 30 years. What I’ve found over the decades is that the government’s reporting has moved further and further away from common experience, and really, the average guy has got a pretty good sense of what’s going on. If you feel the economy is not as strong as the government is saying or that inflation might be higher than what they’re reporting, you’re most likely right because you’re dealing with the real world.
The numbers use to deal much closer to real world experience.
And with the unemployment number, if you, let’s say, went around the entire country and asked everyone whether he or she was unemployed, you’d get an immediate answer. Most people have a pretty strong opinion as to what’s up, they have a job; they know what’s going on. But if you put all those numbers together, you’d come up with a much higher unemployment rate than the government reports, or at least the headline government number to date. So that’s all due to definition.
In order to be counted in the headline unemployment rate — and keep in mind, the government actually publishes six levels of unemployment. The third level they call U3 is the headline number — you have to obviously be out of work and willing and able to take a job, but you have to have actively looked for work in the last four weeks. There are people who’ve stopped looking for work after a period of time when there are just no jobs to be had, yet they’d take a job if it were available, and they otherwise consider themselves unemployed. They want a job; they are willing and able to work. And again, they’d take it as soon as it was offered. If you haven't been looking in the last four weeks, the government will count you as a discouraged worker so long as you've looked for work in the last year.
If you haven't actively looked for work in the last year, they don’t count you at all.
Before 1994, anybody who was a discouraged worker, irrespective of the period of time, was counted as a discouraged worker. So that where you have the U3 unemployment rate at, I believe it’s 8.2% in March, the government’s broadest number U6 (which includes what I call the short term discouraged workers, those who have given up looking for work, but not for more than a year) and also includes people who work part-time for economic reasons (they can’t get a full-time job, they want a full-time job but you know, no full-time job is available) that’s running up somewhat over 14%.
And what I do is I add to that my estimate of the longer term discouraged workers — those who have been discouraged more than a year. That puts you up over 22%.
What happens here is the people who are unemployed roll out of the U3 level; they become discouraged because there are no jobs to be had, and so they go into the U6 level.
And after a year, they roll out of the U6 level in terms of going into another world that the government does not count. I still estimate them, so my number is broader than the government’s number. So when you see the unemployment rate dropping, yet the broader measures are rising or staying at near historic levels, you do not have an economic recovery and that’s what we’re showing. - in a recent interview with the Financial NewsHour
Marc Faber : If the market was not correcting now meaningfully and would continue to rise into July august then the likelihood of a crash in the fall was increasing and the crash will be in the order of say 87 , now we're in the midst of a very significant correction not so much yet in terms of indexes but many shares have already declines 20 to 40 percent from the highs some highs were actually reached a year ago in May of 2011 and some highs were reached late last year so the technical picture of the market is actually quite bad - in Bloomberg Click here to watch the full interview>>>>>
May 21 (Bloomberg) -- Marc Faber Says Stocks in `Significant Correction' Marc Faber, the publisher of the Gloom, Boom & Doom report, talks about global stock markets and his investment strategy. Faber also discusses China's economy and Greece's potential exit from the euro area. He speaks with Susan Li on Bloomberg Television's "Asia Edge." (Source: Bloomberg)
Marc Faber : Normally, if you let your currency weaken significantly, it may help you near term but equally it causes a lot of long-term economic damage. And hence, if the rupee depreciates by 10-20 per cent in the near term, it will also help the market. - in NDTV
Marc Faber: We have to distinguish between the economy and the performance of financial markets. The Indian market is obviously co-related to other markets around the world and I think they are now also somewhat oversold. We can have a relief rally but obviously no new highs. The margin may be between 12,000 and 16,000. - in NDTV
Marc Faber : I wouldn’t rely too much on statistics published by any government including the Indian government. However, according to my statistics, I think China may only grow 3-5 per cent. - in NDTV
Marc Faber : "I think the biggest risk is actually China because if you look at Greece, it's an insignificant economy," “Capital Connection.” "Yes, they owe money, but the market knows that it's bankrupt." Marc Faber said on CNBC Asia's last Friday "In turn, this has a huge impact on the economies of countries like Brazil, the Middle East, Central Asia, Africa, and Australasia, so these countries could slow down meaningfully," he added
Marc Faber : Well, why industrial commodities are weak has nothing to do with Greece. Greece is an unimportant player in the commodities market. Industrial commodity prices have performed miserably as well as the mining company because they anticipate or because they smell more meaningful downing in the Chinese economy, about which I have been warning for the last 6-9 months. - in NDTV interview Click Here to watch the full interview>>>>
Marc Faber : I don’t think it is adequate in the long run. I think the market is coming much oversold. The sentiment is now very negative; I think we are heading into an intermediate low. We can have a rally in June but no new highs.- in NDTV interview Click Here to watch the full interview>>>>
Marc Faber : Regardless of whether Greece is in the Eurozone or it exits with huge losses, it must be taken on the Greek debt and I think for Greece itself, it would be better to exit the Eurozone. - in NDTV interview Click Here to watch the full interview>>>>
Marc Faber : In the case of Greece, I think we are closer to the end and I think if Greece exited the Eurozone, we would figure a shorter market rally. If the market is very concerned in the near term, then basically the Greece exiting would be a solution. It may not be the best solution, but it is a solution that we should have implemented five years ago or three years ago. Now the debt level is far higher. - in NDTV interview Click Here to watch the full interview>>>>
Dr. Doom Marc Faber , discusses the future of the euro and whether a global catastrophe is on the way, with CNBC.
: "I don't know what will happen, but i know what should happen and what should happen is that Greece exits the euro zone right away and defaults on all its obligation to foreigners. if they have obligations to foreigners, it's the mistake of the bureaucrats in Brussels" "...They don't want to leave the euro zone because they know that in the future the Drachma will be worth 70% less than a euro. that's why they don't want to leave. equally they don't want to have austerity and have their salaries and benefits cut by 50%. that would be necessary to bring some order to Greece's household mess"
Marc Faber : First of all, this is a political sensation by the European leaders. I think 3-5 years ago the best solution would have been to kick out Greece and of course the politicians. In my view, the day Greece exits the Eurozone, the market will walk out and then the rally. - in NDTV interview Click Here to watch the full interview>>>>
Marc Faber : Well, why industrial commodities are weak has nothing to do with Greece. Greece is an unimportant player in the commodities market. Industrial commodity prices have performed miserably as well as the mining company because they anticipate or because they smell more meaningful downing in the Chinese economy, about which I have been warning for the last 6-9 months. - in NDTV interview Click Here to watch the full interview>>>>
Marc Faber : We have to distinguish between the economy and the performance of financial markets. The Indian market is obviously co-related to other markets around the world and I think they are now also somewhat oversold. We can have a relief rally but obviously no new highs. The margin may be between 12,000 and 16,000.- in NDTV interview Click Here to watch the full interview>>>>
Marc Faber: I wouldn’t rely too much on statistics published by any government including the Indian government. However, according to my statistics, I think China may only grow 3-5 per cent. - in NDTV interview Click Here to watch the full interview>>>>
Marc Faber : Well, why industrial commodities are weak has nothing to do with Greece. Greece is an unimportant player in the commodities market. Industrial commodity prices have performed miserably as well as the mining company because they anticipate or because they smell more meaningful downing in the Chinese economy, about which I have been warning for the last 6-9 months. - in NDTV interview Click Here to watch the full interview>>>>
Marc Faber : "I think it is a discounting mechanism the markets has been going down because of these problems but not only that , I think the markets are also down because of a major economic slowdown in China "
"first of all this is a political decision by the European leaders whether Greece stays in the Eurozone by giving them more money or exit because they no long have access to credit as I said three or four years ago I think the best solution would be to kick out Greece but of course the politicians have a different view and as I just told you in my view the day Greece exists the Eurozone the markets will bottom out and rally "
- in NDTV interview Click Here to watch the full interview>>>>
Marc Faber : well regardless whether Greece stays in the Eurozone or exit huge losses must be taken on the Greek debt and I think for Greece itself it would be better to exit the Eurozone followed by Italy and Spain and also France and then at the end you should have only one country in the Eurozone that's Germany
- in NDTV interview Click Here to watch the full interview>>>>
Marc Faber : Yes in the case of Greece we are close to the end game , and I think if Greece exited the Eurozone it will trigger short term market rally , the market is very concerned near term that basically the exit of Greece may be a solution , it may not be the best solution but it is a solution that we may have implemented already 5 years ago or three years ago and not now when the debt level is far higher - in NDTV interview Click Here to watch the full interview>>>>
Marc Faber, Editor and Publisher of 'The Gloom, Boom & Doom Report', shares his views on how the global markets are going to perform ahead. "Markets are down because of the economic slowdown in China; they will rally if Greece exits the Eurozone," he said. As far as India's equity market is concerned, he said that the Sensex may bottom-out at the 12000-15000 level. "Rupee seems to be oversold in the near term," he added.
Marc Faber also known as Dr. Doom, is a successful hedge fund managers
from Hong Kong.He made his name By the predicting of the Japan-slump, the stock
market crash of 1987, the Asian crisis and the bursting of the
technology bubble in 2000 . He is publisher of the
Gloom Boom & Doom Report. He managed funds valued at
approximately $ 300 million. In this interview, he does not stint on
criticism against the financial system and also brings other very
interesting statements.
Marc Faber : “If someone really wanted to take speculative positions, he should look to quality non-financial stocks in countries such as Spain, Italy, France, Greece, and so forth,”
“ I think a rebound is coming,” Mr. Faber told Bloomberg Television on Monday.
Marc Faber : “A third wave of quantitative easing by the U.S. Federal Reserve is just a matter of time,” as economic data showed, then, sluggishness in real employment rates, capital spending and global trade ...Faber told the Taiwan’s Taipei Times,
Marc Faber : Equity markets this year resemble 1987 as they had a “very strong start” followed by a “correction,” Faber told Bloomberg in an e- mailed response to questions today. “If we have a rally into August it could resemble 1987 with a crash in the fall.” - in Business Intelligence
Marc Faber : “I think the market will have difficulties to move up strongly unless we have a massive QE3,”
“If it moves and makes a high above 1,422, the second half of the year could witness a crash, like in 1987.” Faber told Bloomberg TV last week “If the market makes a new high, it will be a new high with very few stocks pushing up and the majority of stocks having already rolled over,” Faber said. “The earnings outlook is not particularly good because most economies in the world are slowing down.” Click Here to watch the full interview>>>>>
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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