Global investors have pulled out over $11 billion from both equity and debt markets in the past three months. Do you think there are still some opportunities?
Marc Faber : Over the past few years,
investors have built exaggerated, unrealistic expectations about returns
from the Indian markets. If you look at India's macro economy, it has
not done well compared to China. But on the corporate level, many Indian
companies have done well and have rewarded shareholders. If you ask me,
India as an investment destination, there are still opportunities. I
have maintained my outlook that in 2013 the markets will not perform
well because they had a strong rebound from the 2008 lows to hit the
2011 peak. After that, economic conditions began to disappoint
investors, but it has not disappointed me because I expected it to
worsen. - in ET NOW
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.