Marc Faber began working in markets in 1970. He traded the Nifty Fifty, the 1980 oil bubble and the dot com years, and asked what today reminds him of, he says nothing in his life quite compares. The parallel he reaches for is a market most people have never heard of.
His structural case is that major tops are long drawn out processes rather than single days, that this one began years ago with meme stocks, and that market value against the economy and total debt against it are both at records simultaneously. His views are his own.
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Chapters
0:00 Introducing Doctor Doom himself
0:38 Putting the thesis to him
1:11 Why major tops take years
2:31 Where the exuberance went
3:22 What this reminds him of
4:13 Kuwait and the camel drivers
5:26 Buying wha...