Jim Rogers, who co founded the Quantum fund with George Soros bla bla bla we get it. But what about this guy? Does he manages a large chunk of money or why is he such a celeb investor? Cheers.
From common sense. I read his book, it made sense... Also, since he is a Journalist a Peabody award just does it fine for him...Although I got the feeling we are talking about 2 different Fabers. Did you mean him?: "Marc Faber (aka Dr. Doom) is an investment analyst and entrepreneur born in Zürich, Switzerland.:" If so: "Faber is famous for advising his clients to get out of the stock market one week before the October 1987 crash."
1988-1999 biggest bull market in decades 1987 crash was a technical crash from computer failure and overleveraged options dealing. and some of the guys in the game were short too and had a big payday on 1987 october 19.
Marc (the Swiss) is an investing legend... his profile can be found at gloomboomdoom.com it's pretty interesting.. he also has some awesome quotes like: "Chew fresh Peruvian cocoa leaves, after 10 minutes take two ecstasy pills, after one hour smoke some Laotian hillside marrijuana, finish off with a bottle of Petrus." and "'Naturally, I have smoked a lot of marijuana, but for breakfast I prefer omelette of Balinese mushrooms." Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, MARC FABER LIMITED which acts as an investment advisor and fund manager.
From Wikipedia: "The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer/Software it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I've been doing my part ."