The whole world is mad. Stocks will be dropping 30 percent, then rallying 20 percent, and dropping another 30 percent - that's going to be the pattern. And whoever can't live with that shouldn't be buying equities at all.
There is a case to be ultrabearish about everything, and markets are going to go lower, (but) markets are "extremely oversold" and I expect a "snap-back" rally in the U.S. Standard & Poor's 500 Index of about 40-50 points. - in Bloomberg, August 5
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Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
