I enjoyed Dr. Marc Faber’s after-dinner speech at an event last week sponsored by the CFA Society of Colorado. The Swiss-born Dr. Faber is a fund manager and investment advisor based in Asia. He is the author of the “Gloom, Boom & Doom” investment report.
Dr. Faber, a cheerful pessimist, argued that while the dollar and U.S. bonds are poor investments, some of the best investment opportunities are now found in the developing world. Growth in those countries will drive demand for precious metals and commodities over time. He was sharply critical of the last two Fed chairmen for ignoring the expansion of credit as they repeatedly flooded the money supply. He illustrated his thinking with evidence from across the centuries and around the globe.
I am not endorsing Dr. Faber, but he is interesting, entertaining, and thought-provoking. Here is his website.
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