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Marc Faber

Tomorrow's Gold: Asia's Age of Discovery Paperback – November 12, 2002

by Marc Faber (Author)

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Renowned investment advisor Marc faber sets out to find tomorrow's gold - the outperforming asset classes of the future. Far from being a sensational reading of the runes, this book delves deep into the past, to chart how old investor trends developed and assess how new patterns might emerge.

Print length

432 pages
Language

English
Publisher

Clsa Ltd
Publication date

November 12, 2002
Dimensions

1 x 6 x 8.75 inches
ISBN-10

9628606727
ISBN-13

978-9628606726
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Editorial Reviews

About the Author

Dr Marc Faber is a contrarian. To be a good contrarian, you need to know what you are contrary about. It helps to be a world class economic historian, to have been a trader and managing director of Drexel Burnham Lambert when the firm was the junk bond king of Wall Street, to have lived in Hong Kong for a quarter of a century, and to have a contact book crammed with the home numbers of many of the movers and shakers in the financial world.

Famous for his approach to investing, Marc Faber does not run with the bulls or bait the bears but steers his own course through the maelstrom of international finance markets. In 1987 he warned his clients to cash out before Black Monday on Wall Street. He made them handsome profits by forecasting the burst in the Japanese Bubble in 1990. He correctly predicted the collapse in US gaming stocks in 1993; and he foresaw the Asia-Pacific financial crisis of 1997/98 and the resulting global volatility.

Product details

Publisher ‏ : ‎ Clsa Ltd (November 12, 2002)
Language ‏ : ‎ English
Paperback ‏ : ‎ 432 pages
ISBN-10 ‏ : ‎ 9628606727
ISBN-13 ‏ : ‎ 978-9628606726
Item Weight ‏ : ‎ 1.3 pounds
Dimensions ‏ : ‎ 1 x 6 x 8.75 inches

Best Sellers Rank: #951,475 in Books (See Top 100 in Books)
- #76 in International Accounting (Books)
- #1,378 in International Economics (Books)
- #7,888 in Investing (Books)

Customer Reviews:
47 ratings

Customer reviews

5 star		67%
4 star		15%
3 star		14%
2 star 0% (0%)		0%
1 star		3%

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Top reviews from the United States

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MtnClimber50

Best "Thinking" Macro Investment Book, Stemming from History's Lessons

Reviewed in the United States on February 11, 2009

Verified Purchase

I have read a lot of books on investing. This one, for Macro investing, is the best out there. It sticks to big picture themes, major historical moments, and even unusual theories of lost thinkers that really deserve some attention. Pack this with Faber's sharp wit, intelligence and extrapolation and you really learn. It will will absolutely change the way you think and the "norms" that you have always come to believe.

For example, some people say real estate can only go up -- even in our current credit crisis, buy now and you'll make a fortune in the long run. Well, I believed that too until I learned that Philadelphia was the largest City in the USA for decades and in recent, post WWII history, has been surpassed by many others - and guess what its real estate prices, relative to other cities, are not what they were in its heyday. You may have lost out by buying at the top and watching the Cities population dwindle and other cities generate immense wealth!

This is just one story out of thousands that will give you a profoundly powerful new way of looking at investments and macro trends.

I never thought I'd give any book five stars but this one deserves it.

6 people found this helpful

Helpful

M. Swanson

There is a Whole World Out There

Reviewed in the United States on March 26, 2003

Verified Purchase

Two weeks ago I was sitting in the dentists chair. When he finished sticking his instruments in his mouth, we talked for a few minutes about the stock market. He expressed the common hope of the moment that the war in Iraq will make everything good again. When I told him why that wasn't likely to happen, he made the remark that there is so much "money on the sidelines" that it will have to go back into stocks eventually. He probably heard that from CNBC. "There is a whole world out there," I told him. Money can to go to China or Russia. It doesn't have to go into Cisco. I then told him to read this book.
American investors who were conditioned by the 1990's to buy and hold forever need a new way of thinking. They need to understand that financial markets move in cycles of boom and bust that provide real opportunities to make money. Faber teaches the reader to follow the money and to understand that we now live in a global economy. With a secular bear market in the United States, over the course of the next decade the best investment opportunities will likely be elsewhere in the world and in commodities such as gold and silver. This book will open their minds and in time will help them fatten their wallets.
Faber's book contains all kinds of little gems that are worth remembering. It also has several chapters that I found especially thought provoking and unique to investment literature. First is a valuable chapter on the cycle of emerging markets. Second is a discussion of the United States as an emerging market in the 19th century. His comparison of the US to emerging markets such as China, Russia, and Asia is thought provoking - a process of wild boom and busts swings is not unique to them, but was a large part of the history of the US in the 19th century. It seems to go hand in hand with rapid modernization.
His discussion of history and financial bubbles is a good introduction to the subject and one that will help US investors understand the last few years.
Read this book. It is worth your time and effort. A lot of meat in it. Will make you think. Investment professionals will benefit from it too. If you are a stock broker, this book is worth a whole year of sales promotion literature and analyst recos coming from upstairs. Learn something to actually help your customers. If you are fund manager learn to think big and follow the money.

166 people found this helpful

Helpful

Common Sense Approach to Investing

Reviewed in the United States on September 30, 2005

Verified Purchase

I find this book informative, candid and very refreshing. The author is able to apply his broad expertise not only in analysing past events affecting world markets, but is able to project himself and the reader forward into possible future scenarios in the world markets. His premise is that future financial growth will be found in Asia, particularly China, with the USA and Europe lagging behind. His insight is useful to those who wish to position themselves early into an expansionary wave of financial profits. The information is based on sound research, uncommon knowledge, and a huge dose of common sense. This book is well worth the time it takes to read and the money it costs to purchase. Enjoy and learn!!!

9 people found this helpful

Helpful

David Dubbert

Gold Today

Reviewed in the United States on March 15, 2011

Verified Purchase

I read the edition published in 2002, and was blown away both by what Faber teaches about business cycles and how to profit from them, as well as by how prescient his calls were at the time. Obviously, the world didn't turn out to be exactly as he predicted, but he was right in so many ways that it legitimizes the rest of the book. It's much easier to pay attention to his lessons on an the life cycle of an emerging economy if you know the guys was right at the time. I definitely recommend this to anybody interested in trading or having a better understanding of capital flows and their impact on an economy.

One person found this helpful

Helpful

Morris B

An Excellent Book

Reviewed in the United States on April 14, 2008

Verified Purchase

Students of financial history as well as those just trying to understand today's credit crisis will be well rewarded with the purchase of Tomorrow's Gold by Marc Faber. I first read this book in 2003 and decided to revisit it recently given the current state of the economy. I must say, the book is even more interesting the second time through as recent events have proven out many of Fabers predictions. Many of his warnings and observations seem to be taken from today's headlines, for example from his chapter on inflation- "...But easy monetary policies by Western central banks could lead at some point in the future to renewed severe inflationary pressures which, given the shaky state of the global economy, may not be countered by tightening monetary policies" (sound familiar..?). Faber, a proponent of the classical Austrian school, is right on the mark in his views and I recommend this book highly.

7 people found this helpful

Helpful

Top reviews from other countries

Ms. J. Francis

fabulous

Reviewed in the United Kingdom on November 4, 2008

Verified Purchase

I'm tempted to say this book is rubbish just because I don't want anyone else to know about it, keep the markets in my favour. But that would be unfair to Mr Faber. My copy is dog-earred and highlighted and annotated up to the hilt. Some gems in here that will get you on the road to market-smarts and trading/investing for the new world. I hate to say it but it's bloody great!

12 people found this helpful

bookworm

Worth it's weight in gold

Reviewed in the United Kingdom on September 12, 2007

Verified Purchase

Marc Faber may be the king of doom and gloom but this is probably the best written amd most tightly argued book among the recent crop of titles heralding the coming crisis in the US economy. The colourful swiss contrarian (how often do you see those three words together in one sentence?) has an exhaustive knowledge of international economic history and a career as an investment banker and now as consultant based in asia and is thus as well placed as any to offer analysis. The best praise I can give this work is that after the crisis comes and goes (after reading this you will be in little doubt that it is coming/already happening) I will dip into it to refer to some of its themes and delicious references of obscure economc data.

20 people found this helpful

Daniel Sharp

Worth buying

Reviewed in Australia on November 11, 2020

Verified Purchase

Good macro investment book. Definitely worth reading and forking out the cash for it.

Tilman Gronau

Great book, great service

Reviewed in Germany on June 10, 2018

Verified Purchase

Very good book, worth a read

Amazon Kunde

Simply excellent

Reviewed in Germany on March 31, 2016

Verified Purchase

This is one of the best practical investment books, for people who want to understand long term investing. It is about "the big picture".

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