There is a bubble in everything. Nothing in asset price is very low,” said Faber during an interview on CNBC Wednesday.
grim prognosis shouldn’t come as a surprise to anyone who has been
paying attention to permabear Faber over the years. Still, the fact that
his latest warning comes on the heels of a historic rally that has
propelled stocks to records lends some urgency to his grim outlook.
“We are somewhere between 1999 to 2000,” he said, referring to the tech bubble and its subsequent collapse.
“One day this bubble will end,” said Faber. When that happens, people will lose 50% of their assets.
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.