Sunday, January 5, 2014
Some Stocks are not terribly Expensive and Some Stocks are very Expensive
"If you look at the entire market, some stocks are not terribly expensive and some stocks are very expensive. It's like in year 2000, not every stock was overpriced. At that time, the NASDAQ was grossly overvalued but, say, resource shares and so-called 'old economy' companies were relatively inexpensive or absolutely cheap. In the present instance, I think that stocks like Facebook, Tesla, Twitter, Netflix, [and] Veeva Systems are grossly overvalued and that the basket of shorts in these stocks will return you at least 30% next year." - in a recent interview with CNBC
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
Posted by Nicole Bourbaki