Also in this playlist...
This transcript is automatically generated
PM eastern time.
Well doctor doom might have good reason to be gloomy this month in the beginning of April mark Farber said he was increasing his gold holdings but soon after.
Gold saw its biggest drop in thirty years.
So we thought let's bring a lot mark Robert -- proven do report editor and publisher joins me now on the phone from Switzerland to.
Home of the world of gold OK mark and give us your sense of of what happened with golden did you purchase it.
And get caught in that big drop in gold prices shortly -- after.
Well I've been buying gold for the last -- -- -- Aaron died by every -- some.
And I keep an allocation over roughly 25%.
Up my -- -- in gold.
So on the draw -- -- some much 14100.
And then I have been ordered to by a air -- -- thirteen hundred but he didn't go down the -- hundred then -- the -- to rebounded.
I know I think that we may take.
Demos that gay and -- -- -- -- the more.
It doesn't worry me in fact.
The way I -- that quote is like an insurance policy.
It's an insurance policy a -- and there are lots of purchasing power world of money.
And if we -- got quote either a proper perspective seeing 2000.
The SNB -- up one person.
Didn't do is out there and seven the -- piece about flat but gold is up to 420%.
Things -- 2000.
And that's almost doubled since 2007.
Dominate what we are in the correction period.
But it's -- -- it's not that bad the correction that apple.
People have lost much more -- the apple that is down 43%.
That's September 2012.
And -- you know it's almost like your dollar cost averaging into gold if you've been pouring it in pouring money in every single month for thirty years but let's just get to what's been happening with equities and mark -- you're a friend -- the program you've come on quite a bit but back in September.
Of 2011 you were on this show would you called for.
A big crash -- that you said shortly after the US presidential elections we're going to see a pullback but is rather significant a selloff is coming.
Meantime the S&P is up to 35.
Per cent since then.
I just -- it look I'm just doing my job when I say that it's not just the blogs out there who believe that in a less sort of graceful way -- calling you.
You know -- so called rally idiot like business insider that pointed out all these people but you have been wrong in the short term on equities at.
And people who -- waiting for crashing got out -- lost money listening to you.
-- that is correct but let me remind you.
Last September the Heidi what -- 1474.
So we've made stuck under putting variety in -- could be.
To when I got to -- -- -- spending to the Asian markets which was.
At the end of two -- -- date in 2009.
Since then the -- -- more more than a 100%.
And the Philippines Indonesia Thailand it up 400%.
So you know -- me to lose what do you make out of a hundred points driving India and is not a big deal for him and that's why would that.
I keep 25%.
Of my -- money they quickly.
Oh inequities OK so and you've got 25% and -- and right now mark Farber is saying that the bottom in gold is coming soon.
He's a buyer good to see you thank you so much.
Enjoy that that that to -- is coming soon.
Thought I feel -- -- but comfortable to own some gold.
And I think that they -- -- -- our other vulnerable.
Okay and then that's what you said September 21 of 2011.
-- -- -- -- -- -- -- A 2012 well OK -- we've heard you say had a lot let's put it that way but mark you're always welcome we'd love to hear all opinions -- so thank you for joining us.
Mark Farber editor of the gloom boom and doom report --
Filter by section