Reema: So, are you buying anything in India right now and if yes, what?
Marc Faber : As you may have realised, I always had some investments in India. And in the summer of 2016, when CNBC India interviewed me, I said in the next 10 years, I think the Indian market will outperform the US and I still maintain that. Since the lows last year in June-July, the index is up 42 percent. And we are probably on the high side. The market was attractive when it was below 23,000, between 23,000 and 24,000. We have gone up to over 32,000. I do not think the market is particularly attractive.
But if you put a gun to my head and you ask me, should I invest in a country like the US, with the kind of government they have, corrupt like hell or should I invest in India, which has nowadays a leader that is gradually implementing reforms against the opposition of course, of vested interests and corrupt government officials, but nevertheless is trying, then I would say for the next 10 years, I would rather invest in India than in the US.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.