Marc Faber Says Hold Up Investing for 10 Days
With the euro-zone
sovereign debt crisis coming to a head the man voted the fifth wisest
investor in the world by a Bloomberg poll was advising caution over
any investment in the next 10 days when he addressed the Agora Financial
conference in Vancouver on Wednesday.
Dr. Marc Faber
said he favored equities over bonds for the long term after that
and if forced to choose a 10-year investment would prefer equities,
preferably in Asia. He remains as bullish as ever on gold that he
promises never to sell.
of a gold bubble is nonsense, he said. There is no sign
of the price surge you saw with the Nasdaq bubble or oil stocks
in the late 70s, or the jump in the gold price from $380 an ounce
to $800 between November 1979 and February 1980.
For US citizens
Dr. Faber thinks housing is a great buy as a distressed asset in
places like California, Nevada, Atlanta and Pheonix, noting that
one of his friends in the business says rents are up 9% nationwide.
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Marc Faber [send him
mail] lives in Chiangmai, Thailand and is the author of Tomorrow's
Best of Marc Faber