stillbornagain Posted February 19, 2016 Share Posted February 19, 2016 so what? Yet another sceptic who expects his predictions to occur precisely on the hour on a certain date or otherwise he is wrong Have you ever considered the possibility that his prediction on those two matters would only be under certain conditions that just haven’t occurred yet. One of his other consistent warnings over the years is that when central banks run out of tricks (which they obviously have now) they will take us to war. Just based on Russian Prime Minister Dmitry Medvedev’s warnings last weekend over Syria (without even mentioning continual provocation by USA with China regarding Spratly Islands) it certainly looks to me like we are on a trajectory that will eventually allow him to claim that prediction as being correct. Rational people expect his "predictions" to occur within the time frame that Faber himself announced them. Recession in 2012 is what he predicted. Also in 2013. Also in 2014. So if there's a recession this year, you think that makes his predictions correct? No, it makes him wrong in three separate and previous instances. Using your failed logic, if the weatherman predicts rain tomorrow and it doesn't rain until June 15th, he was "eventually correct". That's comedy gold! (See what I did there? "Comedy gold" and your nick is midas? I crack myself up sometimes.) Oh yes indisputably your quick wit is quite outstanding................ Now the with regards to the subject matter it depends what your own definition of a rational person is. Many “ rational people “ believed in April 2011 that the 2008-2009 downturn in fact never actually ended. In a Gallup poll released in April found that 29 percent of those queried thought the economy was in a “depression” and 26 percent said that the original recession had persisted into 2011. So without actually asking Dr Marc Faber in person you or I will never know whether what he actually meant by his prediction regarding 2012, 2013 and 2014 was that the ongoing recession or depression would simply keep getting worse? So it is a complete fallacy for you to say he was wrong in three instances. http://ritholtz.com/2011/08/2008-09-downturn-ever-end/ Many rational people believe that the theory of evolution is false. As for not knowing what Faber means, I guess he can make up his own undisclosed definitions for standard economic terms. But if he does, then whatever he says is meaningless By the way, in that Barry Ritholz column you linked it. it turns out that Barry got it wrong. Link to comment Share on other sites More sharing options...
elektrified Posted February 19, 2016 Share Posted February 19, 2016 What a bizzare bunch of replies! What planet is bangmai on? Anyway not to knock him as he is very successful, but had you taken Marc's advice over the last 20 years or so, you would have missed out on every bull market, including the last one which was/is nothing short of amazing. Link to comment Share on other sites More sharing options...
midas Posted February 19, 2016 Share Posted February 19, 2016 What a bizzare bunch of replies! What planet is bangmai on? Anyway not to knock him as he is very successful, but had you taken Marc's advice over the last 20 years or so, you would have missed out on every bull market, including the last one which was/is nothing short of amazing. Who to believe .............? The people who wrote this article about him or a handful of sceptics on Thai Visa? (And of course the state of his bank balance versus their Bank balances) http://www.worldfinance.com/wealth-management/marc-fabers-financial-predictions-are-the-ones-we-fear-but-need-to-hear Link to comment Share on other sites More sharing options...
stillbornagain Posted February 19, 2016 Share Posted February 19, 2016 What a bizzare bunch of replies! What planet is bangmai on? Anyway not to knock him as he is very successful, but had you taken Marc's advice over the last 20 years or so, you would have missed out on every bull market, including the last one which was/is nothing short of amazing. Who to believe .............? The people who wrote this article about him or a handful of sceptics on Thai Visa? (And of course the state of his bank balance versus their Bank balances) http://www.worldfinance.com/wealth-management/marc-fabers-financial-predictions-are-the-ones-we-fear-but-need-to-hear Who to believe indeed! This is from the June 16, 2009 issue of The Economist" Have you heard of the Economist? "Meanwhile, Marc Faber continues to embarrass himself:Investor Marc Faber said on May 27 he was “100 percent sure” that U.S. prices may increase at rates “close to” Zimbabwe’s gains, and the U.S. economy will enter “hyperinflation” because the Federal Reserve will be reluctant to raise interest rates. Zimbabwe’s inflation rate reached 231 million percent in July, the last annual rate published by the statistics office. I am "100 percent sure" that anyone investing their money with Marc Faber and counting on prices increasing at monthly rates "close to" 231,000,000% will be extremely sorry." Maybe in Faberese - a language you apparently believe exists - "100 percent sure" means "maybe" or "possibly"? Link to comment Share on other sites More sharing options...
Dante99 Posted February 19, 2016 Share Posted February 19, 2016 What a bizzare bunch of replies! What planet is bangmai on? Anyway not to knock him as he is very successful, but had you taken Marc's advice over the last 20 years or so, you would have missed out on every bull market, including the last one which was/is nothing short of amazing. I do not think you would have missed the bull market in Gold. His market returns depend on what stocks he picks, have you looked at those results? He does talk about stocks he recommends and buys so he is not totally out of or short the markets. Link to comment Share on other sites More sharing options...
stillbornagain Posted February 20, 2016 Share Posted February 20, 2016 What a bizzare bunch of replies! What planet is bangmai on? Anyway not to knock him as he is very successful, but had you taken Marc's advice over the last 20 years or so, you would have missed out on every bull market, including the last one which was/is nothing short of amazing. I do not think you would have missed the bull market in Gold. His market returns depend on what stocks he picks, have you looked at those results? He does talk about stocks he recommends and buys so he is not totally out of or short the markets. But had you followed his advice, you would have held on to the gold as it began its long decline. Best to compare it to S&P index for the same period of time. And keep in mind that gold pays no dividends. Link to comment Share on other sites More sharing options...
Shaunwiz Posted February 20, 2016 Share Posted February 20, 2016 What a bizzare bunch of replies! What planet is bangmai on? Anyway not to knock him as he is very successful, but had you taken Marc's advice over the last 20 years or so, you would have missed out on every bull market, including the last one which was/is nothing short of amazing. I do not think you would have missed the bull market in Gold. His market returns depend on what stocks he picks, have you looked at those results? He does talk about stocks he recommends and buys so he is not totally out of or short the markets. But had you followed his advice, you would have held on to the gold as it began its long decline. Best to compare it to S&P index for the same period of time. And keep in mind that gold pays no dividends. Well there would have still been plenty of meat on the bone,if you had taken his advice when he pleaded on CNBC? To buy gold @ 350 us a ounce at the time Link to comment Share on other sites More sharing options...
stillbornagain Posted February 20, 2016 Share Posted February 20, 2016 What a bizzare bunch of replies! What planet is bangmai on? Anyway not to knock him as he is very successful, but had you taken Marc's advice over the last 20 years or so, you would have missed out on every bull market, including the last one which was/is nothing short of amazing. I do not think you would have missed the bull market in Gold. His market returns depend on what stocks he picks, have you looked at those results? He does talk about stocks he recommends and buys so he is not totally out of or short the markets. But had you followed his advice, you would have held on to the gold as it began its long decline. Best to compare it to S&P index for the same period of time. And keep in mind that gold pays no dividends. Well there would have still been plenty of meat on the bone,if you had taken his advice when he pleaded on CNBC? To buy gold @ 350 us a ounce at the time But since it's what he says all the time, it's completely arbitrary to choose a particular time and give him the credit for prescience. Link to comment Share on other sites More sharing options...
midas Posted February 22, 2016 Share Posted February 22, 2016 Who to believe .............? The people who wrote this article about him or a handful of sceptics on Thai Visa? (And of course the state of his bank balance versus their Bank balances) http://www.worldfinance.com/wealth-management/marc-fabers-financial-predictions-are-the-ones-we-fear-but-need-to-hear I am "100 percent sure" that anyone investing their money with Marc Faber and counting on prices increasing at monthly rates "close to" 231,000,000% will be extremely sorry." Who to believe indeed! This is from the June 16, 2009 issue of The Economist" Have you heard of the Economist? "Meanwhile, Marc Faber continues to embarrass himself:Investor Marc Faber said on May 27 he was “100 percent sure” that U.S. prices may increase at rates “close to” Zimbabwe’s gains, and the U.S. economy will enter “hyperinflation” because the Federal Reserve will be reluctant to raise interest rates. Zimbabwe’s inflation rate reached 231 million percent in July, the last annual rate published by the statistics office. Maybe in Faberese - a language you apparently believe exists - "100 percent sure" means "maybe" or "possibly"? " Have you heard of the Economist?" Do you mean the same Economist Magazine that Is now forced to admit to all the misplaced faith in the economic-healers... http://www.economist.com/news/leaders/21693204-central-bankers-are-running-down-their-arsenal-other-options-exist-stimulate Link to comment Share on other sites More sharing options...
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