Sunday, October 20, 2013
I Would Not Buy US Stocks at These Levels
"I think the markets will move according other events rather than what is happening in Washington,"
"We're coming into earnings season, and the earnings are likely to disappoint,"
"the market is not cheap anymore, according to different valuation methods,"
"the returns over the next five to 10 years will be very moderate,"
"There are very few stocks that are making new highs," Faber said. "The majority of stocks have been moving sideways to down over the last six months. Some stocks, like IBM, are no higher than they were in 2011."
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.