| Marc Faber |
| A mania is a mania, and the experts are caught in it just as the public is. |
| In the world of investment management, it is far better to fail very badly in a conventional way and lose a great deal of money for your client than to lose a little in an unconventional fashion. |
| A bear market is a financial cancer that spreads. Intermediate rallies (occasionally very strong ones) keep the hopes of investors alive. Furthermore, by continuously publishing bullish reports, brokers and economists, like good nurses, keep the flame of hope from burning out. But after 18 to 36 months of continued losses, total capitulation usually sets in and a major low occurs. |
| Short the industry which the majority of Harvard Business School want to join. |
| In the next ten to twenty years, the changes we are going to see in terms of new centers of wealth will be mind-boggling. Only investors who understand this will be able to capitalize on the changes. |
| Basic economic theory suggests that demand falls as prices go up. But in the case of speculative markets, the opposite seems to be true. |
| At the start of a bear market, nobody knows it is a bear market - they just think it is a correction. |
| The person who knows that he doesn't know much, knows much. |
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