“it’s not a very good time right now to buy stocks.”
“This year, for sure—maybe from a higher diving board—the S&P will drop 20 percent,” Faber said. “I think, rather, 30 percent. Who knows. But all I’m saying is that it’s not a very good time, right now, to buy stocks.”
“I believe that the market is slowly waking up to the fact that the Federal Reserve is a clueless organization,” added Faber. “They have no idea what they’re doing. And so the confidence level of investors is diminishing.”
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.