An Unofficial Tracking Blog of World Famous Financial Gurus.
This blog tracks famous financial gurus' market commentary, investment ideas, video interviews and media appearances.
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23:38
Q: I know you are not very gung-ho on emerging markets as a whole, but what is your view on India in specific? Would you have a target for the Nifty that you can share with us? The domestic cue that we are working with would be the state assembly elections and the national elections later next year. Would that change your opinion or maybe help your view towards India in specific?
Marc Faber : We are down in India from the early 2008 high by 40 percent in US dollar terms, in other words adjusted for the currency movements. We are not down 40 percent in rupee terms, but in dollar terms. I think that people pay too much attention to GDP growth figure etc and should rather focus more on individual companies. The problem in American economies is that a lot of money has flowed in and it has boosted the valuation of essentially very liquid stocks or big market cap stocks whereas smaller cap stocks are reasonably priced. So I think there is an opportunity in India, whether the index will go up a lot or not that I do not know, but for the active investor that does not buy the index, I see an opportunity. - in moneycontrol
23:35
Q: Do you have any select stocks or sectors that you are taking positions if in case within India?
Marc Faber : I think banks are very inexpensive. - in moneycontrol
12:07
Legendary billionaire investor George Soros is one of the biggest backers of the €365m Hibernia REIT, the property investment vehicle that floated last Friday.
The Soros-run Quantum fund has an 8.22 per cent stake in the Hibernia REIT, which was set up to invest in the Irish property market recovery. Soros, known as the "man who broke the Bank of England" for his bet against the British pound in the 1992, has invested in Irish groups before, taking stakes in Elan and Amarin as well as buying into Ardmore Shipping.
The Soros group is joined by Wall Street titan Louis Bacon's Moore capital and the vast US group CREF, which manages pensions and investments for thousands of US teachers.
Source: http://www.independent.ie/business/irish/george-soros-racks-up-stake-in-newlyfloated-hibernia-29818759.html
