Marc Faber (born February 28, 1946) is 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. Faber also serves as director, advisor, and shareholder of a number of investment funds that focus on emerging and frontier markets, including Asia Frontier Capital Ltd.'s AFC Asia Frontier Fund. Career Faber was born in Zurich and schooled in Geneva, where he raced for the Swiss National Ski Team (B-Team). He studied economics at the University of Zurich and, at the age of 24, earned a Ph.D. degree in Economics, graduating magna cum laude. During the 1970s, Faber worked for White Weld & Co. in New York City, Zurich, and Hong Kong. He moved to Hong Kong in 1973. He was also a managing director at Drexel Burnham Lambert Hong Kong from the beginning of 1978 until the firm's collapse in 1990. In 1990, he set up his own business, Marc Faber Limited. Faber now resides in Chiang Mai, Thailand, though he keeps a small office in Hong Kong. Investment views In 1980s Faber is credited for advising his clients to get out of the stock market before the October 1987 crash. In 2000s Faber predicted the rise of oil, precious metals, other commodities, emerging markets, and especially China in his book Tomorrow's Gold: Asia's Age of Discovery. He stated that there are few value investments available, except for farmland and real estate in some emerging markets like Russia, Paraguay, and Uruguay. He also expressed temporary bullishness for the U.S. dollar in mid-2008, before it dramatically recovered and positive expectations for holding the Japanese yen. In December 2008, Faber said, "I think a recovery will not come in the next couple of years, maybe in five, 10 years' time". Subsequently, the S&P 500 index rose by 48% from 865.58 on January 1, 2009 to 1282.62 on January 1, 2011. In 2009, Faber predicted with 100% confidence that the Federal Reserve's policy of keeping interest rates near zero would lead to hyperinflation approaching levels seen in Zimbabwe. Zimbabwe's inflation rate reached 89 sextillion percent in a previous report. Subsequently, annual increases in the CPI were 2.7% in 2009, 1.5% in 2010, 3.0% in 2011, 1.7% in 2012, 1.5% in 2013, 0.8% in 2014 and 0.7% in 2015. In 2010s In