Marc Faber, publisher of the Doom and Gloom report is one investor who has been negatively impacted by the earthquake in Japan.
In recent months Faber has recommended Japanese equities and European insurance companies. Both sectors have seen plunging stock prices in the wake of the 8.9 earthquake last week.
During the Barron's Roundtable in January, Faber was bullish on a "basket of Swiss insurers including Zurich Financial [ZURN.Switzerland], Swiss Life [SLHN.Switzerland] and Swiss Re [RUKN.Switzerland] are attractive at current valuations."
Most of his insurance company stocks are down 10% due to heavy re-insurance losses.
In January, Faber also recommended Japanese finance and telecom companies. "In 2011 the Japanese stock market could surprise investors on the upside. I would buy a basket of stocks, including Nomura Holdings [NMR], NTT DoCoMo [DCM], Mizuho Financial [MFG] and Mitsubishi UFJ Financial [MTU]."
Most of these large cap Japanese stocks are down 15% in the last two days.
Faber highlighted his initial bullish stance on Japan in October 2010. Faber's bullish stance on both the Swiss insurance companies and the Japanese finance companies was that he expects both the Swiss Franc and Japanese Yen to be devalued. However, the Japanese yen has remained elevated after rising over 15% in 2010.
Fortunately, at the beginning of February, Faber lightened up on his stock holdings because he expected a correction in global stock markets.
In recent months Faber has recommended Japanese equities and European insurance companies. Both sectors have seen plunging stock prices in the wake of the 8.9 earthquake last week.
During the Barron's Roundtable in January, Faber was bullish on a "basket of Swiss insurers including Zurich Financial [ZURN.Switzerland], Swiss Life [SLHN.Switzerland] and Swiss Re [RUKN.Switzerland] are attractive at current valuations."
Most of his insurance company stocks are down 10% due to heavy re-insurance losses.
In January, Faber also recommended Japanese finance and telecom companies. "In 2011 the Japanese stock market could surprise investors on the upside. I would buy a basket of stocks, including Nomura Holdings [NMR], NTT DoCoMo [DCM], Mizuho Financial [MFG] and Mitsubishi UFJ Financial [MTU]."
Most of these large cap Japanese stocks are down 15% in the last two days.
Faber highlighted his initial bullish stance on Japan in October 2010. Faber's bullish stance on both the Swiss insurance companies and the Japanese finance companies was that he expects both the Swiss Franc and Japanese Yen to be devalued. However, the Japanese yen has remained elevated after rising over 15% in 2010.
Fortunately, at the beginning of February, Faber lightened up on his stock holdings because he expected a correction in global stock markets.
