Monday, February 10, 2014
The Market is way Overdue for a 20 to 30% Drop
“The market is way overdue for a 20 to 30% drop,” Marc Faber warns, “but that is not what worries him.” Sarcastically reflecting on the typical talking-head that appears on financial media, Faber adds you won’t “hear this view from someone who is fully invested,” as he “hopes the market drops 40% so stocks will become – from a value point of view – attractive.” The outspoken Faber channels Jim Grant as he exclaims, “the experience with quantitative easing is a complete failure. It has lifted asset prices and created asset inflation, but it hasn’t lifted the standard of living of most people in the U.S. nor worldwide.”
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.
Posted by Nicole Bourbaki