Friday, December 28, 2012

Marc Faber : mania fed by excessive liquidity is what captures the imagination of Investors

TGR: What captures the imagination of investors?

Marc Faber : Basically mania fed by excessive liquidity, with more and more people convinced that something is the Holy Grail. It was the NASDAQ in 2000, Asia before 1997, housing from 2000 to 2006–2007, or more recently China. Exactly what it is, I don't know. But when a market has been strong, the media write about it and people are attracted to it. Then some useless academics write books about why stocks, or real estate, always go up, and so forth. The media again write that up, and more people flow into that sector. - in the aureport


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