Gold is my favorite currency Marc Faber

Equities and Gold Marc Faber Investments for 2010

In equities though, investors seem to be obsessed with “what the stock market will do” because they focus almost entirely on stock market indices. There is a possibility that equity markets will move, in 2010 and thereafter, into a volatile trading range as was the case in the 1970s. The point I wish to make is that good stock selection is at least as important as, or even more important than, “guessing” where the markets will go. Even in recessions and down-markets, some companies can continue to thrive.

I think it is important to understand that in emerging economies, where markets are far from being saturated, companies that execute well can continue to grow even in a poor economic climate. So, investors should focus on identifying well-run and promising companies, and fund managers who are conservative, disciplined, and focused.
The love for gold
I am not a perennial gold bug. But, when governments spend far more than they collect in taxes (large fiscal deficits), and when central bankers engage in reckless monetary policies and, instead of treating the causes of the problems (excessive debt growth), treat the symptoms (deflationary forces), gold as a currency does make a lot of sense. I need to clarify one point. When gold recently broke out on the upside above $1,000 per ounce I maintained that, whereas in the past the $1,000 level had been an area of resistance, with gold now above $1,000 it had become an area of support. I also said that if gold failed to hold above $1,000, I would become extremely concerned; and that in such a case a sell-off to $800 could not be ruled out, as failed breakout moves can lead to violent counter-movements. My feeling is that gold will hold above $1,000 and will trend higher over time. In fact, the breakout move of gold above $1,000 could be as significant as the decisive breakout move of the Dow Jones above the 1,000 level in early 1983.
in www.business-standard.com
Dr. Marc Faber also known as Dr Doom is an investment advisor, investment analyst and fund manager author and publisher of the Gloom Boom & Doom Report . Dr Faber is known for his contrarian investment approach. Dr Marc Faber is associated with a variety of funds and is a member of the Board of Directors of numerous companies.
he became well known for advising his clients to get out of the stock market one week before the October 1987 crash. Dr Doom motto is "Follow the course opposite to custom and you will almost be right"