Friday, July 18, 2014
Marc Faber : A 30% Stock Drop would not surprise me
MarketWatch: What about this 30% stock drop? When is it coming?
Marc Faber : Since 2012, I have been expecting a correction that hasn’t happened, but it has happened in individual stocks, and it has happened in emerging economies. A 30% [drop] would not surprise me, but the financial media doesn’t believe it can happen. When the S&P was at 666 on March 6, 2009, they didn’t believe the S&P would go to 2,000 either.
The market is very overbought. The rise this year has been accompanied by fewer and fewer stocks making new highs. GE GE +0.34% , GM GM -0.62% , IBM IBM +1.21% , Wal-Mart WMT -0.33% are no longer participating in the advance. [but] if stocks went down 30% I’d be interested again. - in MarketWatch read more http://www.marketwatch.com/story/marc-faber-aka-dr-doom-sticks-to-stock-swoon-call-2014-07-14
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.
Dr. Marc Faber Tomorrow's Gold
Dr. Marc Faber author of the Gloom, Boom and Doom report is a world class Investor, Doctor Faber 's typically controversial and contrarian views have earned him the label of Dr. Doom. Doctor Doom also trades currencies and commodity futures like Gold Natural Gas and Crude Oil.Even his harshest critics must admit that he's been unerringly correct in his market forecasts over the past three decades . Marc Faber is a Swiss investor.He was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager. Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager.