MUMBAI: Outspoken economist, Dr. Marc Faber, was at The Taj Mahal Palace Hotel on Saturday.
Dr. Faber, who’s also the editor of ‘The Gloom, Boom and Doom Report’, was the keynote speaker at Equitymaster’s 5th annual investor conference.
Equitymaster is a financial research publisher based in Nariman Point, Mumbai.
Over dozens of charts, Dr. Faber showed that while growth in the West is slowing, Asia is growing at a tremendous rate.
Dr. Faber is nicknamed “Dr. Doom” for his contrarian and bearish predictions. He warned clients to cash out before the Black Monday stock market crash in 1987, and helped clients profit handsomely as the Japanese stock bubble burst.
But he’s been a longtime Asia bull, and wrote an Amazon bestselling book predicting the continent’s rise, titled “Tomorrow’s Gold: Asia’s Age of Discovery.”
The Fourth Turning: An... Best Price: $2.07 Buy New $8.06 (as of 06:40 EDT - Details)
Dr. Faber first came to India way back in 1973, but at the time it was difficult for a foreigner to invest in India. That’s changed now and he’s taking advantage.
During his presentation, Dr. Faber said the “end of Western economic and political hegemony” is coming, and Asia’s rise to the top is virtually unstoppable.
“We live in a new world,” Dr. Faber said.
But how should individuals invest in this new world?
Dr. Faber recommends Indian stocks, real estate, bonds and commodities (with an emphasis on precious metals). Over the long run, they should all do very well.
Specifically, Dr. Faber said he’d wait for the current correction in Indian stocks to take its course, before investing. He particularly likes financial service stocks.