Friday, August 14, 2015
Marc Faber : Indian Sensex likely to treble your Money in 10 Years
ET Now: Assuming it does happen or even another 5% to 6% from the current levels, what is the sense that you are getting about what it means for economies like India?
Marc Faber: People have very high expectations about the reforms in India and the economic growth picking up, but the process is slower than what was expected. I am not negative about the Indian economy but I am not widely optimistic either because I am familiar with the Indian bureaucracy. To break the bureaucracy in India is the task of Hercules, so I am not sure that Modi will succeed. But in general, I would say I hold investments in India. I believe the Indian currency will likely weaken further in dollar terms and I do not think that Indian stocks will perform particularly well
ET Now: Even if the currency were to weaken further from here, the reforms process is going to get stalled, that will not make you change your investment perspective on India?
Marc Faber: I do not think that stocks are that cheap. A lot of shares that are in the index are actually very expensive and then you have second liners and sectors that are neglected, less expensive and probably have some good prospects. I believe that over 10 years, you will make more money in Indian shares than in US shares, but I do not know more than that. - in a recent interview with the Indian ET Now
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.
Posted by Nicole Bourbaki