This is Why Marc Faber Likes European Telcos

You're a fan of European telecoms. Why?
 
Marc Faber : European stocks generally have underperformed emerging markets, and emerging markets have underperformed the U.S. for several years. When you buy many European shares, you're not buying European businesses. French companies in the CAC 40 index generate about 50% of their earnings outside of France. Most of the earnings of LVMH Moët Hennessy Louis Vuitton [MC.France] -- I'm not recommending the stock but using it as an example -- come from Asia. European telecoms, on the other hand, are less international. They are cheap utilities, and a cheap play on Europe. - in Barron's

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.