Faber: Britain Should Leave the European Union

By Markets

Faber: Brexit would be the best that could happen to Britain

'Gloom, Boom & Doom Report' publisher Marc Faber on investing in Europe.

During an interview with the Fox Business Network’s Deirdre Bolton, ‘Gloom, Boom & Doom’ Publisher Marc Faber discussed his take on Britain possibly leaving the European Union and why investors should think about investing in Europe.

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Faber said he believes that if England leaves the EU, it would give other countries incentive to leave as well.

“It would set up a cascade of positive dominos for the whole world because small countries function better than big countries. We’ve seen that with Denmark, Sweden, Finland and many others including Hong Kong and Singapore. The best that could happen to the U.K. would be to exit the EU,” he said.

Faber also commented on the devaluation of some U.S. stocks.

“First of all, devaluations in the U.S. are very high. If you measure price to sale of the S&P…My sense is that there are much better values overseas,” he said.

Faber suggests that investors should look into investing in Europe.

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“So I say for the investor who has patience now, it’s a much better opportunity to invest in Europe and in emerging economies than stay in the U.S.,” he said.

Faber said gold and energy stocks are where investors should be looking, if they want to invest in the U.S.


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