Wednesday, March 27, 2013
Marc Faber : we are basically Buying Equities today on the greater fool theory, that someone will pay a much higher price for these Equities
David McAlvany : I don’t know if history can help us, but with the Treasury market essentially being a rigged market today, perhaps that can continue for some time.
Marc Faber : Yes, it’s like the NASDAQ bubble went up more than most people would have expected, or the NIKKEI in 1987-1989 went up more than most people expected, but when it eventually broke, the pain was substantial. I don’t know when the market will peak out. All I am saying is that we are basically buying equities today on the greater fool theory, that someone will pay a much higher price for these equities.
- in a recent interview with McAlvany
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