The broader index S & P 500 index of blue-chip Dow Jones Industrial Average may register a decline of 20 percent from their peaks in the recent investor Marc Faber veteran, known for his apocalyptic prediction.
"I think we face a global slowdown in world economies and disappointing
corporate results and would not be surprised to see a decline in indices
of, say, 20 percent," said Faber in an interview with financial
"It's not a big drop. If you take such a decline does not necessarily get out of bed in the morning, "says the specialist.
In mid-September broader index S & P 500 peaked at a level of 1
475.51 points, while the blue-chip Dow rose 661.87 points to 13.
Decrease of 20% from these levels translates to drop to 1,180 points for the S & P 500 and 10,930 points.
Despite the expected third wave of Fed stimulus, Faber does not believe
that monetary incentives alone will affect the extent of the economy.
They can cause side effects, but not empirically proven that throwing so much money in the system to solve the problems her.
Contrarian Investor Dr.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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