MANILA – President Rodrigo Duterte is “favorable” for the economy in the long run, notwithstanding his tough talk against the United States, a prominent investment adviser said Monday.
Recent selloffs in the equities market are due to stocks being expensive, said Marc Faber, author and publisher of “Gloom, Boom and Doom,” said in an exclusive interview with ANC’s “The Boss.”
“The stock market in the Philippines, before that, had a hudge run-up and became relatively expensive. The Philippine stock market is not inexpensive, some selling occurred,” Faber said, referring to Duterte's tirades against the US.
“Personally, Duterte is favorable for the Philippine economy,” he said, adding he might consider buying a house in the president’s hometown, Davao City, where traffic congestion is not as bad as in Manila.
Catch Cathy Yang’s full interview with “Dr. Doom” on a special edition of “The Boss” on Wednesday Nov. 9 at 7:30 p.m.
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