“Great Optimist” Faber Says “I Added To My Gold Position”
By: GoldCore
GoldSeek.com
Wednesday, 4 November 2015
Marc Faber, Swiss economist, forecaster, renowned investor and the original Dr. Doom, may need a new nickname.
In an interview on CNBC’s “Trading Nation,” the Gloom, Boom & Doom Report editor revealed he may not be as bearish as some may think and that he is actually a “great optimist.”
“I always tell people, ‘I am a great optimist … because one of the most dangerous things to do is to drive motorcycles in Thailand and I have five motorcycles.”
The blunt-spoken, truth-telling Faber may have helped people understand that one may be worried about the economic outlook and bearish on stocks and other markets and yet be an optimist about life and all the wonderful things it has to offer and on the human spirit and our capacity to overcome even the worst financial and economic crashes.
On the risks of being a perma bull, he warned:
“You can’t be always sitting there and saying ‘Stocks always go up, real estate always goes up’ and so forth and so on”.
“You could have zero interest rates and stocks go down – as they’ve done in Japan until three years ago. Even at these very low interest rates, something can happen and dampen the enthusiasm for equities.”
Faber admits that he is bearish on the global economy. “I’m most gloomy about the prospects of the global economy, but it doesn’t mean that markets will go down,” he told CNBC. But on the other hand, he says “you have the mad professors at central banks around the world who think that because of a weakening economy they have to do more [quantitative easing].”
The Rest…HERE
