Thursday, August 21, 2014

U.S. Stock Market : I don't think that the pullback has been substantial



ETF.com: Recently the U.S. stock markets had a pretty sharp pullback. Do you see this as the start of that 20-30 percent market kind of plunge that you've been predicting for this coming fall?

Marc Faber : I don't think that the pullback has been substantial. Now, it is true that it has been substantial in some stocks, but by and large, the market, after having risen for five years in a row, since March 2009—and some indices are up three times—the recent decline of something like 4 percent on the S&P and 7 percent on the Russell 2000 is a very tiny decline.

Having said that, from a very-near-term perspective—say, 10 days to one month—as of Thursday night of last week, the market has become very oversold, with only 20 percent of the shares on the New York Stock Exchange trading above the 50-day moving average. That is a short-term, very oversold condition. - in ETF.com



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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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.