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this look at these three big names Tesla Amazon Netflix they will each drop 10% in one single Stock Market trading session he's chuckling away on the side the man who is saying this predicting this is none other than Mark Farber and he is the editor and publisher of you guessed it the Gloom boom and doom report welcome to the show man thank you good to see you nice to see you okay make your case you got these three Tex docks and you say single session each of them will get down 10% why well you said we met 25 years ago I experien because I started to work in 1970 I experienced the 87 crash when not one or two stocks drop 10% in a day but the whole Market dropped 21% in one day and other markets overseas didn't even open they opened 50% lower stock markets go up and up and up and when they go down they go down more rapidly than they went up and when I started to work we just hit the 7374 bare Market I can tell you the Polaroids and the kodex the so-called Nifty the most favorite stocks that everybody owned they dropped day by day by 90% from Peak to St so you're looking back into history you're saying that when we had a big Fallout back in the early 1970s the the the Nifty 50 and you right I remember them well the Kodak of this world they're the ones that utterly plunged and you say that why three stocks last year which was one of the worst performing stocks the darling Valiant went down more than 90% adapts went down 98% there were special circumstances there's always special circumstances well okay well what is it that will drive no let's get it right what were the three stalks you go that we Tesla and or many more all of them Amazon Netflix okay deal with Amazon why would Amazon drop 10% in a single session that's about $100 a share drop why yes well simply because the valuations are very high it's very you know I cannot tell should Amazon sell at a 100 times earnings 200 times or 20 times that we don't know that will depend on many factors in the world that are outside the influence of Amazon's Direct business so Mark Farber simply says that these tech companies are wildly overvalued and they fall correct now you also say that President Trump is good for the markets yes I'm not used to hearing that from you well make that case well before his election I was interviewed by Fox and actually I said Trump would be better for the markets than Hillary Clinton because he's more Pro bus mhm as it turns out I'm a little bit disappointed that he's an interventionist you understand he intervenes into many things he tweets the whole day with his directives and I mean he has great entertainment value we love him overseas for the entertainment he provides foreign countries but I wrote that he would be particularly great for emerging economies and for Europe okay okay where do you live by the way I live in the north of Thailand in the Golden Triangle you do yes in shangai yes what I used to know I was in Shanghai in about 1970 whatever it was I don't care to remember I have an office in Hong Kong and I lived 30 years in Hong Kong so so you're you're are you an American citizen no I'm a Swiss citizen so you're a Swiss citizen you're a European you live in northern Thailand and you come over here to New York City and you sit on my set and you under my the Amazon of this world the Teslas of this world well I write about this all the time I know you I mean the point is between October 99 and March 2000 the NASDAQ more than doubled yes it did and I remember this very well because I was short and I was taken to the cleaners and a bubble you just don't know where it stops is Tesla fully valued today or at twice the price okay I think it will be a zero personally but the NASDAQ just hit another alltime high continued to new and bang we do things fast here in New York we get on with it yes Bara you're all right I've got to leave thanks much for joining us bye good luck sir
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