From Online.Barrons.com
By LAUREN R. RUBLIN
Marc Faber, publisher of the Gloom Boom & Doom Report, is no fan of central-bank money-printing, which widens the wealth gap. But he's bullish on Asian markets such as Vietnam, and European telecom and utility shares.
Marc Faber occupies a unique perch in the investment universe, as the title of his newsletter, the Gloom Boom & Doom Report, might suggest. A big-picture thinker who is also on intimate terms with individual stocks, especially in emerging markets, he tends to view the world with a skeptical eye, and never hesitates to speak his mind when things don't look quite right. In other words, he would be the first in a crowd to tell you the emperor has no clothes, and has done so early, often, and aptly in the case of numerous investment bubbles.
Marc, who was born in Switzerland, lives in Thailand, and runs his investment and advisory business out of Hong Kong, sees a bubble today in high-end assets, from stocks to art to real estate. It's all a consequence, he says, of central bankers' attempts to deluge the financial system with money to drive down interest rates and spur economic growth. The problem is, the money is flowing in dangerously lopsided fashion—into the Hamptons and Lamborghini dealerships, and other playthings of the super-duper rich. The disconnect with the "real" world won't end well, he predicts, although he espies plenty of ways to prosper as the endgame unfolds.
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