Marc Faber's Worst Investment Ever:
In the late 1990s, Marc became convinced that the Dotcom bubble would burst. However, at the turn of 2000, Greenspan injected liquidity into the system because everyone was talking about the millennium. This caused the NASDAQ to go another 30% between January 1 and March 21. Marc was heavily short throughout this vertical rise.
BIO: Dr. Marc Faber, renowned for his unconventional expertise in investment strategies, is a fund manager and author. He serves as the editor of the “Gloom Boom & Doom Report” and the “Monthly Market Commentary,” earning international recognition as the pessimistic stock market expert “Dr. Doom.”
LEARNING: Diversify in stocks, bonds, cash, precious metals, and real estate. Don’t be overly bearish.
“When you lend money to friends, you risk losing everything. You may lose your money and your friends.” - Marc Faber
📚 Resources: myworstinvestmentever.com/ep7...
Time stamps
00:00 Start
00:50 Introduction of Marc
02:25 What is your unique value?
05:37 Huge bubble in financial assets
06:16 Market cap to GDP
08:10 Attractiveness of various regions
12:33 Is it over for Hong Kong and China?
18:53 Useless and ignorant Western and American journalists
21:21 The future for Europe, economic suicide and dumb Socialists
24:43 How did the average European get so stupid to elect stupid leaders?
25:25 Johan Norberg and the Capitalist Manifesto, we have to fight for Capitalism
27:25 The economic world is influenced by political thinking and how Capitalism slides into Socialism
34:32 Marc's worst investment ever
42:00 One piece of advice to avoid loss
47:22 Economics of Inflation and other books Marc recommends
50:25 If someone doesn't want to work and wants to go drinking like me...
52:20 Why would some many Europeans immigrate to America?
53:41 I should have taken it easy and learned perfect Mandarin Chinese
54:50 What are you working on these days? Decline of the Roman Empire
56:40 Wrap up: Understand asset price inflation risk
58:54 Andrew's goodbye
Books Marc recommended
Capitalism, Socialism, and Democracy, by Joseph A. Schumpeter
The Economics of Inflation, by Costantino Bresciani-Turroni
Capitalism and Freedom, by Milton Friedman
My Worst Investment Ever podcast:
In this podcast, Andrew Stotz talks to expert guests such as Raoul Pal, Lou Adler, Christopher Mayer, Danielle DiMartino Booth, Ranveer Brar, Morgan Housel, David Barnett, J Money, Mark Moss, Patrice Washington, Ed Latimore, Robert Paylor, Shana Sissel, Stephen Kalayjian, Tony Fish, Bracken Darrell, and Natali Morris.
🎧 More podcast episodes: myworstinvestmentever.com/pop...
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I am not a CPA, attorney, or financial advisor, and the information in this video shall not be construed as tax, legal, or financial advice from a qualified perspective. Linked items may create a financial benefit.
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