Marc Faber: Holding Cash Might be the Gun Powder You Need in the Next Collapse
First interview up, Louis Navellier of Navellier & Associates notes
that the best corporate earnings in 6 years and tax cuts could spur forward the
already lofty US equities markets in 2018.
Dividend yielding stocks may be preferable in 2018, but caution is
advisable before chasing high yields, which only magnifies risk /
volatility.
The host / guest concur that NVIDIA (NVDA) shares are appealing, due in
part to record demand for their superior crypto-mining GPUs, a top holding of
our guest. Louis Navellier also holds UCTT, Ultra Clean Holdings, and Chinese
stocks in anticipation of the Morgan Stanley Chinese stock index update,
including the Twitter of China, WEBCO, ticker WB. Another key holding, Align
Technologies, ALGN, maker of the popular dental tool, Invisalign is in his
portfolio.
Outside of the equities markets, our guest is also adding copper and
lithium contracts amid the auto battery revolution, including FMC corp and
Sociedad Quimica Y Minera (SQM). Next up, globally renowned economist and
editor of the GloomBoomDoom report, Dr. Marc Faber returns with his outlook on
the financial markets for 2018.
Due to excessive expansion, of central bank balance sheets, global
equities prices may be overextended as robust economic conditions are heavily
dependent on inflated asset prices, including real estate and cryptos.
Investors will turn away from the bubble markets to the precious metals, which
will likely be next to outperform competing asset classes.
Although the Bitcoin mania reached a fevered pitch recently, approaching
a total market cap for of $1 trillion (entire sector), Dr. Faber suggests that
cryptos could continue to gain popularity after the current correction and
increase another 20 fold to $10 trillion, rivaling the $7 trillion gold market,
due in part to the limited supply of the top digital coins (figure 1.1.). Case
in point, during the month long Bitcoin correction, Ethereum, arguably the
silver to Bitcoin's gold, advanced over 100%, offsetting much of the selling -
sector rotation is oftentimes viewed as a sign of bull market indication.
The guest / host concur, investment portfolio diversification is key to
navigating through record market volatility and impending bubble implosions.
Dr. Faber finds cash the most neglected asset class; holding currency could
yield the gun powder necessary to procure discounted investment assets,
following imminent price plunges.
2017-06-01 10:23:37
FX168财经报社(香港)讯 素有“末日博士”之称的知名投资者麦嘉华(Marc Faber)相信，美国市场眼下处于巨大的泡沫之中，当清算的日子到来时，投资者可能会损失一半的资金。
麦嘉华周三(2017年5月31日)接受CNBC采访时说道：“一切都有泡沫。没有什么资产的价格是非常低的。”对于那些多年来一直关注麦嘉华的人而言，他的悲观预测应该不会令人感到意外。
近期美国股市展开强劲反弹，并不断刷新纪录高位。
麦嘉华表示：“我们面临1999年至2000年时的情况。”他指的是当时的科技股泡沫及随后的崩盘。他说道：“总有一天，这种泡沫会破裂。”当这种情况发生时，人们将损失50%的资产。
因憧憬美国总统特朗普(Donald Trump)会公布一系列促增长的政策举措，自2016年11月以来标普500指数和道指收获两位数涨幅；但近期外界对于美股高估值的担忧也在与日俱增。
麦嘉华称：“我不认同特朗普对市场和经济有好处的观点，他的一些言论和行动对美国并不有利。”
由于特朗普难以将其承诺的政策付诸实践，自胜选以来的市场乐观情绪正在逐渐散去。不过，一些分析师依然相信，股市牛市仍然完好无损。不过麦嘉华并不这么认为。他认为，在当前的经济复苏阶段，消费依然相对疲弱，他预计，随着金融资产价格攀升，薪资会下降，美国经济将进一步走弱。
眼下没有什么能让麦嘉华看好美国市场。他相信，总有一天科技巨头特斯拉(Tesla Inc.)、亚马逊(Amazon.com Inc.)和Netflix Inc.会在单日内暴跌10%。上述三家公司股价表现跑赢大盘，帮助纳指在过去6个月内上涨近20%。
与此同时，麦嘉华喜欢美国国债，因为它们保证了“一定的收益率”，特别是在日本和欧洲大部分地区利率接近于零的情况下。
但美债或许是唯一受到麦嘉华青睐的美国资产。事实上，他更偏爱欧洲资产和黄金，他对股票和债券投资的90%都是新兴市场。
No comments:
Post a Comment