A 20-30% S&P Drop Coming?
Marc Faber on the state of the markets
Dr.
Marc Faber, the Swiss fund manager and publisher of the ‘Gloom,
Boom and Doom Report’ always enjoys illuminating the Wall St. talking
heads and displaying his awesome command of numbers, dates and predictions.
The
Fed’s ‘tapering’ comments have ramped up market volatilaty and Faber
gives some advice for short and long-term strategies. For example:
“”The best course of action is to actually not buy anything, but
rather to reduce positions on a rebound,” Faber said: Also, “New
highs in emerging markets and in high yield bonds are out of the
question, and if it happened in the S&P, which I don’t believe,
it would be driven by very few stocks. Longer term, the market is
far from oversold. It still has considerable downside risk everywhere,”
he said.
Finally,
buy more gold……he is. (6:31)
June
27, 2013
Dr.
Marc Faber [send him
mail] lives in Chiangmai, Thailand and is the author of Tomorrow’s
Gold.
Copyright
© 2013 Daily Reckoning
This article originally appeared on: Lew Rockwell