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Marc Faber Explains How Even The "Greatest Bear On Earth" Gets It Wrong

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Tue, 08/23/2011 - 17:56 | 1592364 Fukushima Sam
Fukushima Sam's picture

The girls love gold, bitchez!

Tue, 08/23/2011 - 18:21 | 1592382 ??
??'s picture

rally time for a while

give him credit for his equity calls

link to free standing video (only)

http://bit.ly/noZRyD

Tue, 08/23/2011 - 18:35 | 1592470 spiral_eyes
spiral_eyes's picture

"we're gonna find out if he is a true money printer or just an amateur" - faber

http://azizonomics.com/2011/08/23/what-if-qe3-doesnt-happen/ 

true money printer, bitchez!!

Tue, 08/23/2011 - 19:26 | 1592598 TheTmfreak
TheTmfreak's picture

I swear I can listen to this guy all day long. I wait with anticipation all the time to hear something from this guy.

"I'm the greatest bear on earth!"

 

Tue, 08/23/2011 - 20:21 | 1592773 narapoiddyslexia
narapoiddyslexia's picture

Marc Faber is the best. 

Tue, 08/23/2011 - 20:37 | 1592808 Cdad
Cdad's picture

Agreed.  You just have to love the guy.  How many on the Street have even half of his charisma?  Not to mention a sense of reality that is based in...reality.  Criminal syndicate Wall Street bankers really have a problem with reality.

Tue, 08/23/2011 - 20:37 | 1592809 Cdad
Cdad's picture

dupe

Wed, 08/24/2011 - 01:08 | 1593881 RagnarD
RagnarD's picture

+1. I paid for Mauldin's "conversations".  But I stopped that, despite their being some great stuff supplied there.  The only other thing I paid/pay for is the $200/year, soon to be $300/year for Faber Market Commentary - I can't afford full blown DoomGloomBoom.   Like reading ZH, a guiltly pleasure, that is often "bang on".  What better guilty pleasures to have?  :)

Tue, 08/23/2011 - 18:39 | 1592481 bbq on whitehou...
bbq on whitehouse lawn's picture

Maybe Tyler should set up a goldbug dateing site:)

And we can see if the ladies like gold or silver. The answer may suprise you.

Tue, 08/23/2011 - 19:02 | 1592541 wisefool
wisefool's picture

And then we can have the tax code and MSM clean up the problems of "single" moms/ladies who got an oz. of gold, yet the system must support a bunch of Faber Jrs. to the grave.

snark: In other news. DHS has revealed that the 500,000 poly etheline coffins standing on ready are not for the purpose of a mass killing event. They are not supposed to be truck liners for the new hybrid pick up to be released by Government Motors.

DHS has revealed that ladies like gold, and we need a place to put the bones when gold crosses $2000/oz. Our organic jobs program only needs young men with shovels, and wasted space we called graveyards.

Win the furture kids. Become a 6' junior miner!

/snarc

Tue, 08/23/2011 - 19:48 | 1592688 bbq on whitehou...
bbq on whitehouse lawn's picture

If i knew anything about women i would be a king among men and a slave among women.

 I would humbly turn to the great Shakespeare, when the issue of:

Frailty, thy name is woman!
William Shakespeare, "Hamlet", Act 1 scene 2
But as all men know:
Beware
Of entrance to a quarrel; but being in,
Bear't that the opposed may beware of thee.
Give every man thy ear, but few thy voice;
Take each man's censure, but reserve thy judgment.
Costly thy habit as thy purse can buy,
But not express'd in fancy; rich, not gaudy;
For the apparel oft proclaims the man.
William Shakespeare, "Hamlet", Act 1 scene 3
William knew what was said, was not ment, and what was ment was un-said.
When you are so confused as to not think, only then will you know thought.

 

Tue, 08/23/2011 - 20:26 | 1592782 wisefool
wisefool's picture

good stuff. Shakespeare warned us about digging up corpses. to further your and his points:

  1. Faber should not be flirting with bloomberg chicks about his stash of gold. People with PhDs in Econ like Krugman and Bernanke watch bloomberg. They are snivling bunch who might print more money and/or tax/confiscate posession of gold.
  2. I  respect the value of gold. it is cool stuff. but it is not for me. $99 WebOS HP tablets are selling for $300 right now on ebay are cool too. you can read shakespeare on them.
  3. I seriously dont want to pay for any of 50+ year old Faber's single mom girlfreinds' kids. or DSK's.
  4. Grave digging as a tradition is just as old as gold as money.
Tue, 08/23/2011 - 19:04 | 1592544 SilverIsKing
SilverIsKing's picture

I can tell you with absolute certainty that the ladies like Silver.

Tue, 08/23/2011 - 19:50 | 1592692 Fukushima Sam
Fukushima Sam's picture

Absolutely!  But there is something about the heft of gold that makes them extra creamy...  Get 18K silver alloy and it will have that white metal look but never lose it's shine!

Plus you know that deep down what they really love is that you are buying them something expensive.

Tue, 08/23/2011 - 20:03 | 1592737 bbq on whitehou...
bbq on whitehouse lawn's picture

So, coins and bars are out...:)

Even a club or septer,is out.

Have to add that to the list.  If you are a caveman use silver or wood, not gold when clubing women.

Tue, 08/23/2011 - 23:07 | 1593424 aces and eights
aces and eights's picture

This one sure does. I added some silver rounds to my stash today. On a normal day I can get assistance as soon as I walk in my local shop, but it was packed. Lots of people there to sell, a guy was buying his first 100 oz silver bar, another guy was upset because the plastic coin packaging didn't have 1 ounce written on it (nevermind the coin had it). Someone get the Sharpie! Definitely more <desperate> sellers than buyers. Sad.

Tue, 08/23/2011 - 19:02 | 1592540 UncleFester
UncleFester's picture

My girl likes diamonds.
Tradition, bitches.
http://www.youtube.com/watch?v=2Dj9v9s9buk
IFester

Tue, 08/23/2011 - 21:52 | 1593016 Koffieshop
Koffieshop's picture

Thumbs up. Very much worth reading if you are considering buying diamonds.
(Short summary: Don't do it! The whole market for those rocks is smoke and mirrors. The scarcity is artificial.)

Tue, 08/23/2011 - 19:54 | 1592710 NotApplicable
NotApplicable's picture

Girls like emotional marketing.

Tue, 08/23/2011 - 19:56 | 1592713 IQ 145
IQ 145's picture

We don't need a comment on the Gold/Platinum "parity"; it's completely meaningless. For those of you who get your ideas from internet blogs you might want to know that grown up metals investors don't give a rat's ass about platinum. the market is so tiny and so un-stable it's useless as a vehicle.

Tue, 08/23/2011 - 20:22 | 1592775 He_Who Carried ...
He_Who Carried The Sun's picture

Nickolas Ashford died at 70. He is survived by his wife Valerie Simpson.

Together the two wrote many successful songs for artist like Diana Ross etc...

So sad! Rest in Peace!

Tue, 08/23/2011 - 17:58 | 1592370 caerus
caerus's picture

yeah faber!

Tue, 08/23/2011 - 18:01 | 1592378 Mugatu
Mugatu's picture

I like Farber, but he reminds me of Dr Evil on Austin Powers so much he makes me laugh.  I love it when he pronounces Buuuurnannnnkeeee.

Tue, 08/23/2011 - 18:02 | 1592388 caerus
caerus's picture

i like his tiny pony tail

Tue, 08/23/2011 - 19:28 | 1592602 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

I think Marc Faber is also Karl Lagerfeld, he just puts on the glasses and the fan as a distraction. I got your Nordfleisch right here, bubby.

Tue, 08/23/2011 - 18:04 | 1592396 Joshua Falken
Joshua Falken's picture

I knew Mark Faber when he was head loud mouth at Drexel Burnham Lambert in Hong Kong in the late '80's.

 

He consistently got things wrong then (Asia's own Barton Biggs) and he hasn't improved with age.

 

Journo's and sad lazy hacks like him because he always says contraversial stuff, but it's invartably wrong.

Tue, 08/23/2011 - 18:29 | 1592449 Ratscam
Ratscam's picture

actually i know him today personally, he was right many more times than wrong on the midterm to longterm choices. check his views on youtube. then again he is a trader and as a trader you sometimes change your short term views in seconds, however always stick to your midterm and especially long term views.

Tue, 08/23/2011 - 19:58 | 1592721 IQ 145
IQ 145's picture

False. He just told you exactly what you needed to know last Friday, exactly when you needed to know it; what happens next? "The rally". Correct. Also, there will be no new highs; I'm willing to bet on this too; he's as good a market reader as I am, and that's goddam good.

Tue, 08/23/2011 - 21:53 | 1593024 Fiat2Zero
Fiat2Zero's picture

What are you talking about?  Marc Faber gets it mostly right.

Who the fuck are you Drexel Lambert Burnout boy?

And learn how to spell check you tosser!  Back to the mail room for you.

Tue, 08/23/2011 - 18:12 | 1592405 baby_BLYTHE
baby_BLYTHE's picture

No one has been more correct on Gold than Faber.

It was when he said in an interview during early 2009 that "Gold will never go below $1,000 again",  that I bought the majority of my gold. 

A true legend, especially when it comes to timing market moves.

He should give himself more credit though, he did say treasuries were going to rally when the yield on the 10-year was near 4% late 2010- early 2011.

Tue, 08/23/2011 - 18:26 | 1592451 DosZap
DosZap's picture

baby_BLYTHE,

When the Bank of India snagged 200 Tons from the IMF,@$1,050.00 in '10, I knew we were not going to look back.At least in my lifetime.

All these morons on MSM do not get the total picture.............they continue to use OLD stats, and past history,are myopic and only take into account the West,and esp the US stats from the past.(and all scream BUBBLE!!!)

They fail to factor in the NEW( old) WORLD,China,  India, and Asia.......................we have a NEW market w/another 3 Billion clients coming after the same amounts of production,and limited supplies.Gold production is going DOWN,and Silver is also.

Unless MAJOR new finds are located, the supplies are only going to get harder to come by, and more expensive.

Plat should go back down, as there is a major falling out with the two largest producers and their miners............once this gets ironed out, look for a drop in price.

 

Wed, 08/24/2011 - 02:15 | 1594030 StychoKiller
StychoKiller's picture

"American Exceptionalism" blinds the MSM to what's going on in India, China, Vietnam, etc.

Tue, 08/23/2011 - 18:09 | 1592411 caerus
caerus's picture

the first bet expired...and i won it...

Tue, 08/23/2011 - 18:10 | 1592412 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

Someone tell me why pundits like Faber - not just him, Jim Rogers, Dave Morgan, and so many others, when asked about PM's ALWAYS say "if there's a pull back I'll buy" or don't recommend buying right now because they've gone up too much too quick???

Now, I realise that right now that might actually be the case; however, Faber, rogers et al have been saying they're holding onto their horses since under $1500, and now we'll never get back under $1650.

I like Faber, but I don't recommend trading on the advice of any stock picker. Go wit your gut and don't be overly afraid of swiming with the tide if the trend is firmly in place.

Tue, 08/23/2011 - 18:31 | 1592461 Pladizow
Pladizow's picture

Easy, because they bought at $250/oz.

Tue, 08/23/2011 - 19:01 | 1592536 Lord Blankcheck
Lord Blankcheck's picture

Because they only put them on TV after big rallies

 

What comes first:gold margin increases? or the Khadaffy duck hanging?

Tue, 08/23/2011 - 19:15 | 1592575 caerus
caerus's picture

cuz they want you to think for yourself

Tue, 08/23/2011 - 19:57 | 1592718 NotApplicable
NotApplicable's picture

BTFD

Tue, 08/23/2011 - 18:10 | 1592413 reader2010
reader2010's picture

back up the truck, and buy, buy, buy gold.

Tue, 08/23/2011 - 18:53 | 1592520 smore
smore's picture

Keats It Simple Saver:

 

'Gold is money, money gold,—that is all

 

 Ye know on earth, and all ye need to know.'

 

Tue, 08/23/2011 - 19:52 | 1592666 baby_BLYTHE
baby_BLYTHE's picture

Gold is money... and nothing else- J.P. Morgan (early 1900s before the Federal Reserve Act)

Tue, 08/23/2011 - 20:53 | 1592834 FEDbuster
FEDbuster's picture

I think it was Faber (maybe Jim Rogers?) who said to, "become your own central bank, and buy some gold and silver every month."   Kind of like a "DRIP" investment strategy for precious metals.  If you had done this over the past ten years, it would have worked out pretty well for you.

Tue, 08/23/2011 - 18:59 | 1592418 caerus
caerus's picture

anybody see that guy who raided gadhafi's room on tv?  dude had a sick gold chain and what looked like a gold walking stick...

edit: nice hat too nice chain revolution bitchez!

Tue, 08/23/2011 - 18:17 | 1592429 Caviar Emptor
Caviar Emptor's picture

Emperor Romulus Augustulus announces QE3 will be very large and will fix everything! 

 

Tue, 08/23/2011 - 19:10 | 1592556 Flakmeister
Flakmeister's picture

Pretty ironic name for the last one, eh?

Tue, 08/23/2011 - 18:23 | 1592445 slaughterer
slaughterer's picture

Is there a worthwhile biography out on Faber yet?   

Tue, 08/23/2011 - 18:24 | 1592447 Bokkenrijder
Bokkenrijder's picture

Lagavulin single malt 16 year I hope!

Tue, 08/23/2011 - 18:27 | 1592453 caerus
caerus's picture

nice...balvenie 15 here

Tue, 08/23/2011 - 20:21 | 1592774 Arrowhead
Arrowhead's picture

killed most of a Bal15 last weekend. still cant' get over how nice

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