Emerging Markets Outlook Is ‘Optimistic,’ Faber Says |
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June 30, 2009
The outlook for emerging markets is “far more optimistic” than for developed economies as growth picks up, said investor Marc Faber, who advised investors to buy gold before its eight-year rally.
The outlook for emerging markets is “far more optimistic” than for developed economies as growth picks up, said investor Marc Faber, who advised investors to buy gold before its eight-year rally.
“We are living through major changes in the world,” said Faber, the publisher of the Gloom, Boom and Doom report. Emerging markets such as China are becoming more significant to the global economy, and “I don’t think this will be reversed,” he said today at an AsianInvestor magazine forum in Seoul.
The MSCI Emerging Markets Index has jumped 35 percent since the end of March, headed for a record quarter after inflows from investors surged and stimulus plans from China to Brazil bolstered confidence. That compares with a 21 percent increase in the developed-market MSCI World Index.
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