Skip to main content

International investment adviser Marc Faber is author of The Gloom, Boom & Doom Report.SHERWIN CRASTO

Hedge fund manager Eric Sprott is getting some company from another well-known bear.

Marc Faber, famed contrarian investor often known as Dr. Doom, has joined Sprott Inc. as director and member of the money management firm's audit committee.

The Zurich-born author of The Gloom Boom & Doom Report succeeds Ian Telfer who tendered his resignation due to time commitments and appointment as the new chairman of the World Gold Council.

Mr. Faber, who lives in Thailand, received a PH.D. in economics from the University of Zurich at age 24. He founded Marc Faber Ltd., an investment advisory and fund management firm, and is known for making bearish calls on inflated markets at different time during the past three decades. He gained fame for advising his clients to get out of the stock market just before the October, 1987 crash.

"Marc is an internationally renowned expert and commentator on financial markets and we look forward to his contribution as a director of Sprott," Eric Sprott, chief executive officer of Sprott said Tuesday.

Mr. Faber is also the author of several books, including Tomorrow's Gold - Asia's Age of Discovery, and is a director of Ivanhoe Mines Ltd. , a mining firm focused on the Asia Pacific region. He is also an adviser to a number of private investment funds.

Mr. Sprott, who started a hedge fund because of his own bearish views, has often made reference to Mr. Faber's views during company conference calls.

Interact with The Globe