Marc Faber makes bullish comments on Bloomberg

Marc Faber is a definite bull right now, despite his title as Dr. Doom. In the video below he makes his case for gold miners and for a general equity rally through April. His main points are:

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Marc Faber is a definite bull right now, despite his title as Dr. Doom. In the video below he makes his case for gold miners and for a general equity rally through to the end of April (Hat tip Chris Martenson).

His main points are:

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  • Many miners are facing a cash crunch.  So, this is bullish for gold mining companies that can put cash to exploration.
  • But gold itself is at a record high compared to the CRB index.  Faber likes industrial commodities more.
  • Global GDP ex. government has already contracted 10% in his view.
  • Money printing and deficits will make it difficult to rein in inflation in future.
  • Markets have tumbled 50% so he believes you will make money in stocks over a ten-year horizon if you start buying here.  He sees few scenarios where this is not true.
  • Markets will go higher due to money expansion. “Don’t underestimate the power of printing money.”  That is surely the money quote here.
  • The dollar will weaken and this will be a sign that liquidity is flowing into the market.
  • Extreme negative sentiment is a contrarian indicator.

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Again, Faber is not the only bull here: Buffett, Grantham, Fleckenstein and Leuthold are all bulls.

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