An investment analyst who made a name for himself as ‘Dr. Doom” for his occasionally jaundiced view of the markets has been booted from the board of a major investment company after saying it was good that blacks didn’t settle the US or the country would “look like Zimbabwe.”
According to Bloomberg, Marc Faber agreed to leave the board of money manager Sprott Inc., after the comments — made in a newsletter — came to light.
“The recent comments by Dr. Faber are deeply disappointing and are completely contradictory with the views of Sprott and its employees,” Sprott Chief Executive Officer Peter Grosskopf said in a statement announcing Faber’s departure. “We pride ourselves on being a diverse organization and comments of this sort will not be tolerated.”
Earlier in the day, CNBC, Fox Business Network, and Bloomberg TV all indicated they would no longer book Faber for their financial shows.