Ep. 223: Marc Faber Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 26 March 2014

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Marc Faber, a Swiss investor based in Thailand. He is the publisher of the Gloom Boom & Doom Report newsletter and the director of Marc Faber Ltd, which acts as an investment advisor and fund manager.

The topic is economics.

In this episode of Trend Following Radio we discuss:

Current state of Russia
Changing geopolitics
Faber's experience living through the Cold War
The difference between Crimea's value to the west and its value to Russia
Why the Russians perceived the uprising in Kiev to be financed by western power
China's reaction to the situation in Crimea; the construction boom in China
The difficulty of forecasting China's geopolitical changes
Positive and negative valuations of the market, and finding investments to be "cheap" or "expensive"
Faber's advice to young people following his path today in the face of money printing and bailouts
What can be done about wealth inequality
Making a living in the face of instant communication and globalization
Central banks' role in wealth inequality
Why money printing leads to bubbles
Warren Buffett's involvement with the bailouts, and how his government connections have helped his investments
How governments are assimilating everything
"Capitalism and Freedom" by Milton Friedman
The cost of large government in the US and elsewhere
Faber's views on relationships, contrasting the West and Asia along with Facebook fame

Jump in!

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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

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0:00.0	This is Trend Following Radio, where great thinking comes alive.
0:10.9	Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.
0:26.6	I am your host, Michael Covel, not filtered, raw, honest.
0:36.8	That's my passion. Today on the show I have Mark Fobber. Mark is the editor and publisher of the Gloom, Boom, and Doom Report.
0:40.9	Everyone knows Mark, even if by his voice alone. Fantastic voice. My conversation today was with Mark
0:49.6	in Chiang Mai, Thailand, in his office. We discuss a wide variety of topics.
0:57.2	You know, to be in Mark's office is to see a fantastic cathedral ceiling, just walls filled
1:05.1	with books.
1:07.2	You know, so it's a great opportunity to really pick the mind of a man who's seen one tremendous amount of econ geopolitics.
1:19.8	He's seen quite a bit.
1:22.1	So today we have a historical narrative.
1:23.9	We talk about Russia.
1:24.6	We talk about China.
1:27.0	We also bring up Warren Buffett. Mark expands
1:31.0	on Warren Buffett and some of his success. Also, we talk about relationships in Asia. A wide-ranging
1:39.7	conversation, very fun. I was very excited to do this interview in person. Just a blast.
1:48.6	I hope you enjoy. So we got no shortage of current events, Mark.
2:03.0	Speak to me a little bit about how you, and maybe I'm wrong about this.
2:06.8	So speak to me a little bit about how you see what's unfolding in Russia.
2:11.3	I'm not old enough remember all the details of the Cold War, but I grew up in the 80s,
2:15.7	teenager in the 80s, and I have a feeling
2:18.3	of what that fear was like, and it sure looks like to me that by Putin, basically grabbing Crimea,
	...

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