# Marc Faber Asian Market Cycle Each Asian market moves through the same phases of boom and bust. They move at different times. - Source model: Marc Faber, *Tomorrow's Gold: Asia's Age of Discovery* (2002). - Fritzell placed each market on the cycle in Oct 2026.^[From [[Key Themes in Asia - Fritzell Oct 2026]], slide 8] ```mermaid flowchart LR P0["Phase 0<br/>Philippines"] --> P1["Phase 1<br/>Thailand, HK, Malaysia"] P1 --> P2["Phase 2<br/>Singapore, Vietnam"] P2 --> P3["Phase 3<br/>Japan, Australia,<br/>Taiwan, Korea"] P3 --> P4["Phase 4<br/>India"] P4 --> P5["Phase 5<br/>New Zealand, China"] P5 --> P6["Phase 6<br/>Indonesia"] P6 -.-> P0 ``` ## How to read it - The phase list is Fritzell's mapping. - The phases follow the CAPE ranks in [[East Asia vs Southeast Asia Divide]]. Phase 3 markets are the expensive AI markets. - Low phases hold neglected, cheap markets. Phase 0 is the Philippines, CAPE 10.5. > [!question] Check against the book > I have not read Faber's own phase definitions. Confirm what Phases 4 to 6 mean before I use this to time entries. ---- tags: #boat #investing #macro links: [[Asia Macro MOC]] [[East Asia vs Southeast Asia Divide]] [[Stock Market Bubbles]]