Marc Faber, publisher of The Gloom, Boom & Doom report argues that a fall in the U.S. equity market could happen soon and says investors should brace for a "general asset deflation.
"I don't regard this as a very healthy market, " Faber told CNBC from
Singapore. "The U.S. market is in a very dicey position where it could
easily drop 10, 20 percent." He pointed out that many stocks are already
down 10 to 20 percent, such as momentum stocks which include
high-flying technology and biotech shares.
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.