Thursday, January 16, 2014

Marc Faber dislikes Bitcoin, Facebook

Marc Faber on if he would invest in Bitcoin:
I prefer physical gold, silver, platinum to Bitcoin. Bitcoin can have a lot of competition. Gold, silver, platinum dont have any competition. How do you value a bitcoin ? I can value Gold to some extent to say Gold to the quantity of money floating around the world, the wealth increase, to the credit increase, to the production costs, so I have any idea of where Gold should be. I'm not sure because prices overshoot.

Dr Doom's opinion on the social media giant Facebook (FB)
I think it is a to a large extent a Fad and people they go on facebook. For most people what people do is, they put a picture on, and the only people that watch these pictures are themselves. They all want to be stars. Its a very distracting type of occupation. I cant imagine that this would have a lot of value. The question is how much use it is.

On what he would rather buy than FB:
I would rather own, I dont own it because its very highly priced, a company like Alibaba, Amazon, Google than Facebook personally. That is my view.