Monday, December 12, 2016
Marc Faber : The U.S. Market is not quite as strong as the indices would suggest
Faber said emerging markets, in the red since Election Day, could be a golden opportunity in the new year. He particularly likes Brazilian and Russian stocks, which have been "very miserable performers since 2011."
"I think that in 2017 my recommendation would be to overweight emerging economies, and I would also overweight Europe, partly because I think that the sentiment about the U.S. dollar is far too optimistic. I think the dollar is terribly overbought and overvalued, so I wouldn't get into the U.S. dollar at this time," Faber said.
Meanwhile, "the U.S. market is not quite as strong as the indices would suggest," Faber said. He believes that a small number of stocks have led the rally, and that the U.S. economy has shown only "low-quality growth."
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