Marc Faber: Another Investor Who Will Not “Like” Facebook

Marc Faber, whose famous motto is “Follow the course opposite to custom and you will almost always be right,” told Bloomberg today that he would not be a buyer of the Facebook IPO simply because it is over valued for his liking.

In an interview he mentioned that although he does have a Facebook account, he has someone else who manages it for him simply because he does not have the time to be on Facebook but he does however write and reply to his own emails. Faber says that 3-4 years ago would have been the time to get into Facebook as a private investor like Hong Kong Investor Li Ka-shing did.

Earlier in the week, Famous Contrarian Investor Jim Rogers also quoted he would not buy Facebook IPO for his own reasons.

One proponent Faber added during the interview is that Facebook could succeed enormously if it was to, somehow, legalize online gambling.  Online gambling would be an enormous source of revenue for the company.

Faber did also mention that he has recently purchased some undervalued assets in Hong Kong and Thailand where he sees potential for profiting.

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