Marc Faber on why it is Difficult to Invest in Technology

“In the late 1960s, it was [all about] mainframe computers and semiconductors [before] the whole thing collapsed. Then came mini-computers, and these also collapsed. In the 1990s, the internet boom came and 80% of these companies are [now] gone. In 1990, Cisco went public, and it was a success story until 2000. Dell was a huge success until 2000. After that, [these stocks] weren’t great stories. “We all agree that technology is driving the world, or the world is driving technology. But it is also very fickle. Look at Netscape — where is it today? [Look at] AOL and Time Warner. Yahoo! hasn’t performed well in the long run. “There are new companies coming up, but you and I don’t know whether the world will still be using Facebook in five years. I mean they will use it, but to what extent will it make money and to what extent will it still grow? By then, everybody in the whole world would have a Facebook [account] and to grow [further] would be more difficult. So, it is difficult to invest in technology.” -- via www.theedgemarkets.com

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.