Investors may be in for a “year of disappointments” and precious metals may prove to be a useful hedge, according to famed contrarian investor Marc Faber. In a recent Kitco interview, the natural resource focused investor describes how his 2017 investment predictions.
2017 Investment Predictions: the year of disappointments?
Faber is calling for a decline in real estate, some commodities and the U.S. dollar in 2017.
Dr. Faber commented,
“As we come into 2017, investors seem to be extremely optimistic about U.S. equities and about the U.S. dollar.”
Faber said investors should look to have exposure in commodities, especially platinum, which he dubbed his “favourite precious metal for 2017.”
And that,
“For the normal investor who wants exposure in commodities, the best is to be in precious metals – gold, silver, platinum.”
Finally, Faber concludes by plugging a few of his favorite stocks, including Ivanhoe Mines.
