The Cause Of The Sell Off Is That Markets Run Up Too Much, Too Quickly

"I don`t think Greece is the cause of the sell off. I believe its a catalyst but the cause of the sell off is that markets run up too much, too quickly. In other words, most emerging markets were up more then 100% from the March lows and the S&P 500 was up more then 80%, and as I have argued we would see a 20% to 30% correction this year. Anyway, it just happened that this 20% correction happened in 10 days."


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.