by Marc, Dr. Faber
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Product Description
Dr Marc Faber is a contrarian. To be a good contrarian, you need to know what you are contrary about. It helps to be a world class economic historian, to have been a trader and managing director of Drexel Burnham Lambert when the firm was the junk bond king of Wall Street, to have lived in Hong Kong for a quarter of a century, and to have a contact book crammed with the home numbers of many of the movers and shakers in the financial world. Famous for his approach to investing, Marc Faber does not run with the bulls or bait the bears but steers his own course through the maelstrom of international finance markets. In 1987 he warned his clients to cash out before Black Monday on Wall Street. He made them handsome profits by forecasting the burst in the Japanese Bubble in 1990. He correctly predicted the collapse in US gaming stocks in 1993; and he foresaw the Asia-Pacific financial crisis of 1997/98 and the resulting global volatility.
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Average Customer Review:
0 of 0 people found the following review helpful:
 An Excellent Book, 2008-04-14
Students of financial history as well as those just trying to understand today's credit crisis will be well rewarded with the purchase of Tomorrow's Gold by Marc Faber. I first read this book in 2003 and decided to revisit it recently given the current state of the economy. I must say, the book is even more interesting the second time through as recent events have proven out many of Fabers predictions. Many of his warnings and observations seem to be taken from today's headlines, for example from his chapter on inflation- "...But easy monetary policies by Western central banks could lead at some point in the future to renewed severe inflationary pressures which, given the shaky state of the global economy, may not be countered by tightening monetary policies" (sound familiar..?). Faber, a proponent of the classical Austrian school, is right on the mark in his views and I recommend this book highly.
0 of 0 people found the following review helpful:
 history or prophecy ?, 2007-12-24
Once you make it past a rather lame device at the beginning, the book really takes off. There are valid points in the beginning, so stick with it. Your reward will be a history lesson that could be repackaged and sold as current investment advice.
2 of 2 people found the following review helpful:
Great book about global investing, 2007-05-14
Faber, a pioneer in study global business cycles, successfully predicted many ups and downs of different markets in the world since the 80s. In this book written in 2002, he predicted the rising of China, and the booming of commodities due to the rising demand from China, India and other Asian countries. Years later, his prediction again has been proved to be correct. An insightful book about global investing.
9 of 10 people found the following review helpful:
This author has been proven correct, 2006-12-24
I purchased this book shortly after it was published in 2002. The author has been correct in his advice to date (Dec 2006) and I believe will be proven right for years to come. It is a rare opportunity to find a book that so clearly lays out the future and helps you make great investment ideas and actually has recent history to see if the author has provided good advice.
17 of 19 people found the following review helpful:
A "Big Picture" and "Very Long Run" view. Excellent Book!, 2006-03-19
Traditional wisdom about investing is full of conflicting messages. We all heard that past performance doesn't guarantee future results (means it's hard to say about future based on the past data). But at the same time, we are told that US stocks are expected to return about 8% annually based on the past performance (means it would be reasonable to expect 40%+ return over 5 years). And at the same time, in Q1'06 Dow is still lower then it was 5 years ago (hmm, if 5 years is not a long run, what is?). Each statement describes the US market, sounds simple and straightforward, but they are giving conflicting views, so this knowledge is not really helpful. Simple, but doesn't make sense.
This book does make a lot of sense. It starts with a very impressive overview of the global history from the earliest known civilizations. Then it tells you about cycles in economic activity. The quality and quantity of the facts and references is amazing! Then authors gives you an overview of the current situation in macroeconomics and geopolitics. And then he is explaining his view of the future, both short and long term.
It's is clearly not a "how to get rich quickly" book. The main focus is not what you should be doing but to explain you the big trends so you can make your own educated decisions.
The book is written in 2002, but it will stay actual for years to come. Actually now in 2006 it's amazing to see how acurate Faber's forecasts were.
The book is also pretty short and easy to read.
Highly, highly recommended!
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