Marc Faber: Investors are on the Titanic but may not be a bad thing

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Marc Faber: Investors are on the Titanic but there's still a few days to travel
Marc Faber: Investors are on the Titanic (but enjoy the ride anyway)
Marc Faber: Investors are on the Titanic but may not be bad thing
Leslie Shaffer | @LeslieShaffer1
5 Hours Ago [Wed Jun 29 16:58:08 CEST 2016]
http://www.cnbc.com/2016/06/28/dr-doom-marc-faber-investors-are-on-the-titanic.html

   

   [Gold is my preferred currency: Dr. Doom]
   
  "The global economy has been weakening and could worsen ahead, but there
   are still a lot of market opportunities for investors, said Marc Faber,
   editor of the Gloom, Boom & Doom Report.
   
    "We're all on the Titanic, but the Titanic still has maybe a few days
   to travel before it collapses so we might as well enjoy the journey,"
   Faber, also known as Dr. Doom, told CNBC's "Squawk Box."
   
    Anticipating a downtrend, Faber said he's holding physical gold in
   safe-deposit boxes and buried in his garden, as well as holding gold
   mining shares. For "ordinary" investors, he recommended holding gold
   exchange traded funds (ETFs), such as the Market Vectors Gold Miners
   ETF, or GDX.
   
   Faber said that every investor should hold gold, calling it his
   preferred currency.
   
    But that didn't mean Faber was dissing on the rest of the stock
   market.
   
    Faber said the global economy's downtrend was likely to be exacerbated
   by the U.K.'s vote to leave the European Union (EU), or Brexit, but he
   added that this wasn't necessarily bad news for the stock market.
   
    "Brexit will give a perfect excuse to the Federal Reserve not to
   increase interest rates and be most likely to launch QE4," or another
   round of quantitative easing to purchase assets in the market," Faber
   said. "Then the other central banks will also join and also launch
   further easing measures, printing money and so the global economy could
   worsen and stocks actually could go up."
   
   

   [Dr. Doom: Brexit is a sidehow]
   
   He believed that the opportunities being opened up might be more
   available to individual investors than to large funds.
   
    "If you run a trillion dollars or $500 billion, it's difficult to move
   between Russia, Brazil and other markets, but I think there's an
   opportunity for individual investors," he said.
   
    Among the market opportunities, Faber said he believed precious metal
   stocks were still cheap, despite recent gains.
   
    Gold climbed to a two-year high of $1,358.20 an ounce on Friday after
   the Brexit results were released as spooked investors sought
   safe-havens. At 9:08 a.m. SIN/HK, spot gold was trading at $1,318.00 an
   ounce.
   
    Follow CNBC International on Twitter and Facebook.
   
   Leslie Shaffer
   Senior Writer "