"At the present time, I think that Europe has had a very good move from the lows. It outperformed the U.S., and I would be a little bit careful to buy stocks indiscriminately at the present time because everything has moved up significantly. There's a lot of bullish sentiment," Dr. Marc Faber told CNBC Fast Money yesterday said.
"But in general, I like selected European companies because their business is international and their exposure to Europe is not all that large. Maybe 40 to 50 percent of their total sales are in Europe, and the rest is overseas. Faber said that he owned stock in telecom companies, utilities and blue-chip companies in Switzerland. He also disclosed that he was holding on to 10-year Treasurys and adding to his gold positions.- in CNBC FastMoney 19 Nov 2013
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.