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Marc Faber Thinks Investors Should Buy Gold as an Insurance Policy
Posted by: CanadianValue (IP Logged)
Date: January 8, 2013 09:47AM
I still don't "get" how to value gold, other than to know it is a proxy for the confidence people have in our fiscal system.
I do know that I wish I'd owned it over the last ten years.
Marc Faber discusses his latest findings:
- Smaller Asian markets have performed very well since the March 2009 low and likely won't do well in 2013.
- He thinks the loose money that is sloshing around the world will find its way to Asian markets that have underperformed (China, Vietnam, Japan).
- Faber is very negative on 2013, so he doesn't think investors have to own stocks.
- Government intervention in the financial markets are making it extremely hard to make predictions about direction of the markets.
- He doesn't particularly like any asset class at this point in time.
- Faber thinks gold could drop 10% in the short term, but he keeps owning it as an insurance policy.
Stocks Discussed: SPY, DJI, QQQ,