Give credit where credit is due: Faber admits his prior crash forecast(s) were wrong.

How wrong? Calculated Risk observes that the market is up 40% since his 2012 prediction.

 

Marc Faber: The asset bubble has begun to burst, here comes the bear market

Source: CNBC

 

Category: Really, really bad calls, UnGuru, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

8 Responses to “Marc Faber: Here Comes the Bear Market”

  1. raholco says:

    Isn’t it by definition that permabears will be more wrong than right over the long haul?

  2. Stock Soup says:

    Faber is so full of shit. I subscribed to his newsletter for one year just to check it out. First, it’s just fancy words pretending to be deep thinking. What is his background? Nothing, just a former mid-level banker with a panache for self-promotion. Second, he’s perpetually selling the ‘next big risk is just around the corner’. Nice way to make a living.

    News organizations, not even Bloomberg, vet talking heads. If they get viewers, they’re invited back again and again.

  3. RW says:

    I rather doubt those who listened to Faber’s advice will have credit to give or much inclination to give it but, sure, credit where credit is due: Faber (finally) admits he didn’t really have a clue; pax vobiscum.

  4. BennyProfane says:

    Aren’t CNBC ratings down, like, 40% since 2012?

    ~~~

    ADMIN: See WSJ: Ratings Sag for Cable-TV Business News

  5. Nick Thorne says:

    As per What Works On Wall Street, we have only had 11 Peak to Trough losses exceeding 20% since 1900. Maybe one day Faber will call the 12th…

    Calling for a crash is an asymmetric bet. If you get it right it’s unlimited upside for you, if you are wrong most people forget… except Ritholtz & a few.

  6. V says:

    I don’t know if he is actually wrong. The most sage advice he was given so far as asset valuations go is : “first we need to ask Mr Bernanke how much money he will print”.

    Seems pretty accurate to me.

  7. constantnormal says:

    yet another ain’t-gonna-crash-today indicator …

    http://wallstcheatsheet.com/business/top-10-countries-hoarding-cash.html/?a=viewall

    … crashes tend to never happen when portfolios are awash in cash … which could fuel the bull market’s growth for Quite Some Time, until the cash is all gone and the world is heavy with debt leverage …

  8. StatArb says:

    favorite Faber quote :

    May 27,2009 (Bloomberg) — The U.S. economy will enter “hyperinflation” approaching the levels in Zimbabwe because the Federal Reserve will be reluctant to raise interest rates, investor Marc Faber said.
    “I am 100 percent sure that the U.S. will go into hyperinflation,”