"If we look at the markets, the S&P peaked out on January 19 at 1,150 then we went down to 1,045—in other words, down almost 10% and many emerging markets are down 10-20% and now we are coming to seasonal strength March-April and so the markets can rebound but I doubt we will make new highs above the January 19 high.
Also for India, the high was 17,790 and then we went down below 16,000. We are now at 16,700 something. We can rebound further but I am not sure we will make new highs and that we are in a correction period and that maybe then we will get some kind of summer rally with a marginal new high. But in general I don’t think that this year stock markets will perform all that well."
in CNBC TV18
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.
