‘Gurus’ Without A Clue

In my role as director of research for The BAM Alliance, a community of more than 140 registered investment advisor firms, I’m frequently asked both by clients and other advisors to address the issues raised by market “gurus” who make forecasts in the financial media.

These forecasts often create anxiety, so investors naturally ask whether they should be worried. They also want to know what we, as their financial advisors, are doing about these risks.

Dr. Marc Faber is one such “guru.” He’s a frequent guest on CNBC, and is often quoted by the financial media. Faber’s website states that he is “an international investor known for his uncanny predictions of the stock market and futures markets around the world.” Faber is perhaps best recognized for his many prognostications of gloom and doom (he is, after all, editor of the “Gloom, Boom & Doom Report”).

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