Marc Faber was quoted in Financial Times website today in an article untitled Bottoms, markets and Dr Doom. Basically the Fiancial Times describes Marc Faber`s view on the stock market and on the economy.
"Whereas Faber doesn’t expect any full stock market recovery within the next two years - and doesn’t feel we’ve yet seen the final low in the current bear market - he predicts some “further headway” before the coming summer.
In the very near term, the stock market has become overbought and should correct, he warns. Regardless of whether the market is heading up or down, for now, volatility is likely to remain high and market swings of 20% or more within a month or two will recur with high frequency, he warns.
To justify an intermediate positive stance, however, the level would need to stay above the November 2008 lows of 741 for the S&P500, he adds.
As for currencies, for dollar-centric investors, the message is in Chinese: diversify, diversify, diversify."
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.
