Dr. Marc Faber, the Swiss fund manager and publisher of the ‘Gloom, Boom and Doom Report’ always enjoys teaching the financial pundits with the real truth. Here he educates the “Street Smart” people on what’s really going on with gold vs. stocks, bonds commodities. In short, there’s a major buying opportunity ahead.
“At the moment, a lot of people are knocking gold down. But if we look at the records, we are now down 21% from the September 2011 high. Apple is down 39% from last year’s high. At the same time, the S&P is at about not even up 1% from the peak in October 2007. Over the same period of time, even after today’s correction gold is up 100%. The S&P is up 2% over the March 2000 high. Gold is up 442%. So I am happy we have a sell-off that will lead to a major low. It could be at $1400, it could be today at $1300, but I think that the bull market in gold is not completed.”