Description
Renowned investment advisor Marc Faber sets out to find tomorrow s gold the outperforming asset classes of the future. Far from being a sensational reading of the runes, this book delves deep into the past, to chart how old investor trends developed and assess how new patterns might emerge. Change is the thread. As Faber points out, the world is experiencing a transformation as great as Europe s late-15th Century golden age of discovery and the Industrial Revolution of the 19th Century events that altered the commercial face of the Earth forever.
And from this dramatic landscape a world in which economic, social and political conditions are morphing at an alarming rate Faber identifies investment opportunities. Asia s three-billion-strong population will have a profound effect on the world, writes Faber, cautioning that today s richest cities and clusters of wealth are unlikely to retain their exalted positions in the future.
Dr Marc Faber is a contrarian. To be a good contrarian, you need to know what you are contrary about. It helps to be a world class economic historian, to have been a trader and managing director of Drexel Burnham Lambert when the firm was the junk bond king of Wall Street, to have lived in Hong Kong for a quarter of a century, and to have a contact book crammed with the home numbers of many of the movers and shakers in the financial world.<P><P> Famous for his approach to investing, Marc Faber does not run with the bulls or bait the bears but steers his own course through the maelstrom of international finance markets. In 1987 he warned his clients to cash out before Black Monday on Wall Street. He made them handsome profits by forecasting the burst in the Japanese Bubble in 1990. He correctly predicted the collapse in US gaming stocks in 1993; and he foresaw the Asia-Pacific financial crisis of 1997/98 and the resulting global volatility.
