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Tomorrow's Gold: Asia's Age of Discovery
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. Change is the thread. As Faber points out, the world is experiencing a transformation as great as Europe s late-15th Century golden age of discovery and the Industrial Revolution of the19th Century events that altered the commercial face of the Earth forever.
And from this dramatic landscape a world in which economic, social and political conditions are morphing at an alarming rate Faber identifies investment opportunities.
Asia s three-billion-strong population will have a profound effect on the world, writes Faber, cautioning that today s richest cities and clusters of wealth are unlikely to retain their exalted positions in the future.
And from this dramatic landscape a world in which economic, social and political conditions are morphing at an alarming rate Faber identifies investment opportunities.
Asia s three-billion-strong population will have a profound effect on the world, writes Faber, cautioning that today s richest cities and clusters of wealth are unlikely to retain their exalted positions in the future.
335 pages, Paperback
First published January 1, 2002
13 people are currently reading
636 people want to read
About the author
Marc Faber
10 books33 followersMarc Faber is an investment analyst and entrepreneur.
Faber was born in Zürich and schooled in Geneva, Switzerland, where he raced for the Swiss National Ski Team. He studied Economics at the University of Zurich and, at the age of 24, obtained a Ph.D. degree in Economics magna cum laude. Faber is best known for the Gloom Boom & Doom Report newsletter and its related web site featuring "Dance of Death" paintings created by Kaspar Meglinger.
Marc Faber serves as director or advisor of a number of investment funds that focus on emerging and frontier markets, including Leopard Capital’s Leopard Cambodia Fund and Leopard Sri Lanka Fund.
Faber was born in Zürich and schooled in Geneva, Switzerland, where he raced for the Swiss National Ski Team. He studied Economics at the University of Zurich and, at the age of 24, obtained a Ph.D. degree in Economics magna cum laude. Faber is best known for the Gloom Boom & Doom Report newsletter and its related web site featuring "Dance of Death" paintings created by Kaspar Meglinger.
Marc Faber serves as director or advisor of a number of investment funds that focus on emerging and frontier markets, including Leopard Capital’s Leopard Cambodia Fund and Leopard Sri Lanka Fund.
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Displaying 1 - 15 of 15 reviews
January 9, 2015
Wow! If I would have read this book much, much earlier... I would have enjoyed a much better net-worth today. Despite its age, this book offers still great insights on so many economics subjects. Its mind blowing!
December 20, 2023
Excellent!
As some of the readers noticed before, the title is somewhat misleading.
It is a book on fundamentals, scenario thinking, the history of civilizations and the madness of crowds.
I didn't know the origin of 'millionaire' and the bubble accompanying it.
Food of thought.
I can imagine Faber walking on the shore of Hong Kong in the evening and thinking about his investments.
Yes, he didn't see Xi's emergence and his future demise but hell - who could see this coming? China was opening its doors and going free trade.
But incidents do happen.
Maybe, his straight and critical views on China and hopes for Hongkong and Taiwan kinda forced him to move to Thailand after 1997, when the island of piece got squeezed into submission.
Great reading.
I will definitely return to it someday.
p.s. when Xi fails there will be hope for all the Hongkongers whom I happen to admire.
As some of the readers noticed before, the title is somewhat misleading.
It is a book on fundamentals, scenario thinking, the history of civilizations and the madness of crowds.
I didn't know the origin of 'millionaire' and the bubble accompanying it.
Food of thought.
I can imagine Faber walking on the shore of Hong Kong in the evening and thinking about his investments.
Yes, he didn't see Xi's emergence and his future demise but hell - who could see this coming? China was opening its doors and going free trade.
But incidents do happen.
Maybe, his straight and critical views on China and hopes for Hongkong and Taiwan kinda forced him to move to Thailand after 1997, when the island of piece got squeezed into submission.
Great reading.
I will definitely return to it someday.
p.s. when Xi fails there will be hope for all the Hongkongers whom I happen to admire.
This entire review has been hidden because of spoilers.
January 4, 2022
One, if not the best book on investing I have ever read.
Well written and easy to understand!
I knew Marc Faber from his appearances on youtube and his permabear reputation.
There is an investment-portfolio from his design, which performs really well.
This book was written in 2002, but reading it in 2022 is as fresh an experience.
Furthermore Dr Faber makes predictions, which are now easy to verify.
He compares the emerging markets in Asia with the USA before 1900, a bumpy ride.
On the backside of the cover you will find drawings made by his daughter.
One of them is an elefant which pushes the money tree, which is filled by national banks. The money flows into the market, but there is a spill over to emerging markets. At some time the guy in the back of the elephant will steer him to other other markets (Asia).
Well written and easy to understand!
I knew Marc Faber from his appearances on youtube and his permabear reputation.
There is an investment-portfolio from his design, which performs really well.
This book was written in 2002, but reading it in 2022 is as fresh an experience.
Furthermore Dr Faber makes predictions, which are now easy to verify.
He compares the emerging markets in Asia with the USA before 1900, a bumpy ride.
On the backside of the cover you will find drawings made by his daughter.
One of them is an elefant which pushes the money tree, which is filled by national banks. The money flows into the market, but there is a spill over to emerging markets. At some time the guy in the back of the elephant will steer him to other other markets (Asia).
November 11, 2019
Equates emerging markets in southeast asia and china to 19th century American economy which had boom and bust trajectories, warns it's easy to lose money in emerging economies because the growth is uneven, cites building of railroads and canals in America and advises against investing in infrastructure in emerging countries; written in 2003, Faber says he would not invest in US, I guess he couldn't have known that the Fed would print money to keep the stock market up, chapter on opportunities in Asia is disappointing, in that it makes generalizations and recounts in a cursory way the recent economic history of certain countries, similarly, the chapter on the theme of constant change over the course of history in centers of global power was a waste of time for me, spreads itself too thin;
September 9, 2023
I read this book because a respected hedge fund manager said it was the best book he ever read.
While I did enjoy most of the book, I had a lot of trouble getting around the fact that it was written 20 years ago and his predictions were based on changes he observed then. Much of the macro focused premises were correct but they are hardly relevant now. So, I am giving the book 4 stars based on what Faber wrote and when but I cannot recommend the book today.
While I did enjoy most of the book, I had a lot of trouble getting around the fact that it was written 20 years ago and his predictions were based on changes he observed then. Much of the macro focused premises were correct but they are hardly relevant now. So, I am giving the book 4 stars based on what Faber wrote and when but I cannot recommend the book today.
September 1, 2017
Good intro to economic history. The title is somewhat misleading. Author is perceptive and many predictions came or are coming true (considering date of writing in 2000). Recommended even if you're not investing in Asian markets for some of the author's mental models.
August 17, 2021
so good
This entire review has been hidden because of spoilers.
August 22, 2013
"No asset class or business has done well in the VERY long term" - Marc Faber
I think Faber's main point is that there is no such thing as a safe investment in the very long term.
These chapters are among the most useful
Chapter 10 - The Economics of Inflation:
Faber walks through historical exmaples of hyperinflation. Some people have the misconception that stocks will rise with inflation. However, within the first 3 years of the Weimar republic, German shares were down 97% in USD terms.
Chapter 11 - The rise and fall of centres of prosperity
Faber presents a list of the cities who once had the largest population in the world, with the date of their peak. He then recaps thousands of years of human history, focusing on the rise and fall of great cities, many of which lost 95% of their populations as they declined.
I think Faber's main point is that there is no such thing as a safe investment in the very long term.
These chapters are among the most useful
Chapter 10 - The Economics of Inflation:
Faber walks through historical exmaples of hyperinflation. Some people have the misconception that stocks will rise with inflation. However, within the first 3 years of the Weimar republic, German shares were down 97% in USD terms.
Chapter 11 - The rise and fall of centres of prosperity
Faber presents a list of the cities who once had the largest population in the world, with the date of their peak. He then recaps thousands of years of human history, focusing on the rise and fall of great cities, many of which lost 95% of their populations as they declined.
July 3, 2010
Marc Faber is one of the greatest economist of our time , always sincere and outspoken and most of all he has a great sense of humor and a funny Swiss accent ...I cannot have enough watching his interview likely I have found this blog which posts all his interviews http://marcfaberchannel.blogspot.com , I highly recommend this book as I have bought it read it from back to back three times ...thank you Marc Faber
October 25, 2008
Must read
Want to read
November 25, 2008내일의 금맥
January 29, 2009
Marc Faber is God, watching mankind omnisciently from the sidelines, and this book is his observations! Must read for anyone interested in making money or engage in macroeconomic foresight
July 5, 2012
Love it! Faber is the closest thing you will find to a Wall Street oracle. He knows his stuff.
February 5, 2016
One of the best business books I've read! Chocked full of examples and explanations that are easy to understand and really place economics in the context of history and society.
Displaying 1 - 15 of 15 reviews