Wednesday, March 27, 2019

Renowned Swiss Investor Marc Faber Finally Bought Bitcoin

Marc Faber, a renowned Swiss investor and publisher of the Gloom Boom & Doom Report newsletter, has finally bought into the world’s #1 cryptocurrency, Bitcoin (BTC), according to an interview with Germany’s Cash, a prominent financial news outlet.

Faber’s Bitcoin investment is a big deal, as the savvy investor is ranked among the top investors in the world along with Warren Buffet. However, unlike Buffet, who is notorious for bad-mouthing Bitcoin, Faber has long been intrigued by the revolutionary cryptocurrency.

Marc Faber, a Famously Skeptical Investor

Faber is typically pessimistic about the outlook for financial markets and a devoted critic of central banks, whose monetary policies he believes are leading up to another financial recession. He is even dubbed “Dr. Doom” by the press for his skeptical and pessimistic outlook on markets.

With this outlook, Faber is famous for buying depressed assets which he considers are undervalued. This is the reason he finally took the plunge and bought his first chunk of Bitcoin, as the nascent asset class has lost near 80% of its value since its highs of late 2017.

Per the interview, which was held on March 8, Faber noted that he has always been interested in the developments of Bitcoin because of its comparison to gold or commodities.

However, he mentioned that up until 10 days ago he had been cautious and skeptical of it… counting back 10 days, this means he bought Bitcoin on or around February 27, 2019. According to Faber, Bitcoin reached an attractive price point compared to its $20,000 highs, which motivated him to take the plunge and invest.
Is the Bitcoin Bear Market Nearing Its End?

Faber isn’t the only big-time investor getting into crypto now.

For instance, Fidelity Digital Assets has opened its doors to select institutional clients that can now buy Bitcoin.

Twitter’s Jack Dorsey has been loading up on Bitcoin and Bitcoin miners in China are preparing for a bull run. There is so much bullish news happening, and the mentions here don’t even scratch the surface.

So is the Bitcoin bear market finally coming to an end?

Nobody knows for sure, and Faber isn’t making any calls either. However, he was quoted saying:

“It’s not certain, but possible, that Bitcoin will be the standard for money transfers.”

Friday, March 22, 2019

Marc Faber: Huge Asset Bubble Will Be Deflated

Legendary contrarian investor Dr. Marc Faber warns, “When I started to work in 1970 on Wall Street, the stock market capitalization of the U.S. as a percentage of GDP was between 25% and 30%. 

Now, the stock market capitalization alone is 150% of GDP, and when you add the bonds to it, we are at 300%. It’s a huge asset bubble compared to the real economy. 

I think no matter what they do, this asset bubble will be deflated, and it will be very painful. 

The asset holders are the powerful ones here, and they don’t want it deflated.

The question is would it have been better economically to go into the hospital in 2008/2009 and clean up the system rather than to essentially inject the sick patient with more opioids to keep him alive? 

It’s going to get much worse the next time it happens.”

- Source, USA Watchdog

Thursday, March 14, 2019

Marc Faber on the Fed, Stocks, and GOLD

Everyone wants to know whether this stock market sell-off is a buying opportunity or the first move in a long-term downtrend. 

Swiss investor Marc Faber joins Silver Doctors with a word of caution. 

Faber doubts the majority of stocks will make new highs. In the next two years, many investors will not make money in equities, he says. 

The Fed will likely try to prop up the market through more accommodative monetary policy. 

He sees a possible rolling out of quantitative easing and a halt to rate raising. At that point, the Dollar will weaken.