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Marc FaberEconomist, analyst of Swiss origin
Date of Birth: 28.02.1946
Country:  Switzerland |
Content:
Biography of Marc Faber
Marc Faber, a Swiss economist and analyst, was born in Zurich, Switzerland in 1946. He studied economics at the University of Zurich and earned his doctorate in economics at the age of 24. In the 1970s, Faber worked for the investment bank 'White Weld & Company' in New York City, Zurich, and Hong Kong. In 1973, he permanently moved to Hong Kong.
In 1978, Faber became the managing director of the Hong Kong division of 'Drexel Burnham Lambert' bank and remained in this position until 1990. In the same year, he founded his own company, 'Marc Faber Ltd.', in Hong Kong.
Career and Achievements
Today, Marc Faber is primarily known for his publication, 'The Gloom Boom & Doom Report', of which he is the editor. He is also recognized as an unconventional investor with a unique approach to investment. Faber writes extensively about unusual forms of investment in his newsletter, 'The Gloom Boom & Doom Report'.
Faber is also known for his economic forecasts, which have often proven surprisingly accurate. For example, he advised many of his clients to sell all their stocks before the 'Black Monday' on Wall Street in 1987. He also accurately predicted the burst of the 'Japanese bubble' in the 1990s. Faber consistently stays ahead of official charts and is regarded as an expert in high-growth investment consulting.
In addition to his role as an analyst, Faber is an investor and fund manager for several private clients. He has authored several books, including 'Tomorrow's Gold – Asia's Age of Discovery', which was first published in 2002 and later reprinted. Faber is also known for his appearances in television shows and his criticism of US financial policies.
Philosophy and Recognition
Faber believes in limited government intervention in free markets and attributes many problems to such interference. His statements regarding the US government are often bold, such as his comment on the Federal Reserve: "...if there was an organization in the US that always ruins everything, the Federal Reserve would be a good fit for that role."
Marc Faber is considered one of the most original and authoritative analysts in the financial industry. His newsletter and website are highly popular among financial circles. His motto is "Follow the course opposite to the consensus, and you will almost always be right." In 2009, Faber was named one of the "top five financial experts in the world" by Bloomberg.
Personal Life
At the age of over 64, Marc Faber remains energetic and active, often seen with a friendly and wide smile. He firmly believes in trusting and relying on economists who are practitioners rather than professors of economics from famous American universities.
