Marc Faber Bullish about some European Telcos

"At the present time, I think that Europe has had a very good move from the lows. It outperformed the U.S., and I would be a little bit careful to buy stocks indiscriminately at the present time because everything has moved up significantly. There's a lot of bullish sentiment," Dr. Marc Faber told CNBC Fast Money yesterday said.
"But in general, I like selected European companies because their business is international and their exposure to Europe is not all that large. Maybe 40 to 50 percent of their total sales are in Europe, and the rest is overseas. Faber said that he owned stock in telecom companies, utilities and blue-chip companies in Switzerland. He also disclosed that he was holding on to 10-year Treasurys and adding to his gold positions.- in CNBC FastMoney 19 Nov 2013



 

Marc Faber

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

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.