Book Summary: Riding the Millennial Storm: Marc Faber's Path to Profit in the Financial Markets

(source: www.amazon.com)


Riding the Millennial Storm: Marc Faber's Path to Profit in the Financial Markets
by Nury Vittachi and Marc Faber
Published in 1998


Riding the Millennial Storm is a historical sketch of Marc Faber, who for those not familiar is a contrarian and a superbear. Marc Faber is often nicknamed Dr. Doom for this outlandishly negative views.

In addition to providing some biographical information, the book delves into his thinking and some of his principles. If there is one way to characterize Marc Faber, it is as a contrarian whose primary strategy is likely sector rotation (I don't know his full details so I hope this isn't misleading). Like most people who are into sector rotation, he relies on macro theories and tries to predict shifts in assets due to investor sentiment, valuation, or economic trends. Marc Faber believes in Austrian Economics (I don't) so his views are not what you will find in the mainstream. At the same time, Austrian Economists are wrong--I believe--on many aspects of the economy and hence their investment results can be slow to materialize, if ever.

Since this book is more of a sketch of Faber's thinking rather than any solid methodology, the book seems dated and readers may not find it too useful. I wouldn't recommend this book for anyone wanting to gain deep insights or learn about some new techniques or analysis. I think fans of Marc Faber may find the book interesting to read.

Rating: 35%

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