Corporations will have a tough time to meet Expectations of Earnings

In general corporate earnings will disappoint. They may not collapse, but they will not be as good as expected and my sense is they will decline from the current level which is by historic standards extremely elevated. In particularly cyclical companies, the Caterpillars, semi conductors, companies in materials I think will have a tough time to meet expectations of earnings.

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.