‘Dr Doom’ Marc Faber says US assets set to suffer long term from Trump’s travel ban

30.01.2017 / 12:16

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U.S. assets are set to suffer in the long run as investors consider the "psychological" impacts of President Donald Trump's travel ban, Marc Faber, the publisher of the Gloom, Boom & Doom report, has told CNBC.

Trump's contentious new policy imposes a 90-day ban on entrance into the U.S. for individuals from seven Muslim-majority countries. He strongly defended his move on Sunday, saying that that while America was "a proud nation" of immigrants, his order was strictly about national security and not religion.

But, according to Faber - who is often known as "Dr. Doom" for his usually pessimistic views - the repercussions are likely to be long term.

Calling 2017 "the year of disappointments", Faber is countering market consensus and said that investors should be short U.S. dollar and U.S. stocks and long emerging markets.

"As we go into 2017, the consensus is that inflation will go up … And you want to be overweight U.S. stocks … but protectionism, I guarantee you, is not going to be good for the U.S."

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‘Dr Doom’ Marc Faber says US assets set to suffer long term from Trump’s travel ban

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