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Not sure if this video has been posted. A discussion of hedge fund managers at the Russian Economic Forum - moderated by Marc Faber.
http://2010.therussiaforum.com/news/session-video3/
http://2010.therussiaforum.com/news/session-video3/
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Re: Marc Faber, Nassim Taleb, Hugh Hendry
More from Faber...jtabeb and raja will approve...Originally posted by lsa420 View Post
February 22, 2010
'Buy farmland and gold,' advises Dr Doom
The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash.
The bleak warning of social and financial meltdown, delivered today in Tokyo at a gathering of 700 pension and sovereign wealth fund managers.
Dr Faber, who advised his audience to pull out of American stocks one week before the 1987 crash and was among a handful who predicted the more recent financial crisis, vies with the Nouriel Roubini, the economist, as a rival claimant for the nickname Dr Doom.
Speaking today, Dr Faber said that investors, who control billions of dollars of assets, should start considering the effects of more disruptive events than mere market volatility.
“The next war will be a dirty war,” he told fund managers: "What are you going to do when your mobile phone gets shut down or the internet stops working or the city water supplies get poisoned?”
His investment advice, which was the first keynote speech of CLSA’s annual investment forum in Tokyo, included a suggestion that fund managers buy houses in the countryside because it was more likely that violence, biological attack and other acts of a “dirty war” would happen in cities.
He also said that they should consider holding part of their wealth in the form of precious metals “because they can be carried”...
...One of Dr Faber’s darker scenarios involves growing military tension between China and the United States over access to limited oil resources...
...“When I tell people to prepare themselves for a dirty war, they ask me: “America against whom?” I tell them that for sure they will find someone.”...
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