I think that there are people who have extreme views either extremely bullish or extremely bearish. I think we maybe in a kind of a trading range whereby first we go down somewhat into October-November and then rally again towards the end of the year.
I think the difficulty is what to do with money when interest rates are essentially at zero on US dollar then obviously people look at their portfolios and they see stocks that have dividend yields. In Singapore, Thailand, Malaysia, you can have stocks yielding 5% on the dividend. So, the money flows essentially into these stocks.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
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