Monday, September 16, 2013
Emerging Markets : We have to look at each Emerging Market separately
Marc Faber: We have to look at each emerging market separately because of the diverging performances. Since 2009 we have seen great performances in the Philippines, Malaysia, Indonesia and Thailand, where markets went up by three to four times. On the other hand are markets like India, Brazil or Russia, which are still down in dollar terms by 50% from their highs. Therefore, each emerging market is in a different position at the moment.
In my view, there has been a huge correction in Indonesia and Thailand from the recent highs. The market is down by around 30-35% from the April-May high, but following a rebound, we will see further weakness.
Indian stocks, because of the currency weakness, have already experienced a very substantial bear market. It may last a little longer, but we surely are coming into a buying range. - in a recent interview with ET NOW
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.