Tuesday, August 19, 2014

Marc Faber – Social Media Stocks Are Overvalued





“In the tech space, anything to do with cloud computing is overvalued. There is a lot of competition that will come in and depress prices for these services. I wouldn’t buy these stocks,”





Marc Faber believes that the tech sector is in a bubble that is about to pop. He has always been a firm believer of gold and hard assets. Which would you rather own?

Many investors have speculated that the technology industry has been in a bubble recently due to the Federal Reserve's aggressive monetary policy initiative of low interest rates and monetary expansion.

Marc Faber who publishes The Gloom, Boom & Doom Report highlighted in a recent interview that social media and biotech stocks are in the midst of a bubble phase and are highly priced, though noted that the entire sector is in a bubble phase.
“In the tech space, anything to do with cloud computing is overvalued. There is a lot of competition that will come in and depress prices for these services. I wouldn’t buy these stocks,” posited Faber, who has long been a bear on the U.S. stock market.



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.

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