“Faber, living up to his “Dr. Doom” nickname, told CNBC that he doesn’t like any particular asset class, though he said he has a diversified portfolio. “I’m not liquidating everything, but I have a lot of cash.” Here is a direct link.
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I have no idea what Mr. Faber’s net worth is but I do know that it is enough that with his asset mix it doesn’t reallly matter what happens to world markets. His diversification by asset class, as stated by himself, is roughly 4 equal parts of gold, cash,dividend paying equities and real estate. I am reasonably sure that any one of the four puts him well into the 1% club.
Speaking of Gonzo Journalism!
China blew out its export numbers last night. Everything I received for Christmas was made in China