Tuesday, February 18, 2014
[VIDEO] Faber : too late to buy US Stocks
"In the U.S., it's probably too late to buy," the publisher of "The Gloom, Boom & Doom Report" told CNBC. "Usually these long bull markets, they end badly," he said, pointing to the 1987 crash and the significant declines in 2000 and 2007. "So I don't think it's a very opportune time to buy [U.S.] equities," Faber added. While it might be too early to buy some of the beaten-down emerging markets at these levels, investors can make money in the longer-term, he said. "I think I can make the case that over the next five to 10 years, I will make more money by buying now in the emerging economies then in the U.S.," Faber said.
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.