I continue to believe that the future returns from asset markets will likely disappoint most investors. It should be clear that the higher bonds and stocks move up the lower the future returns will be.
As mentioned, I hold Ten-year Treasuries, but with a yield of less than 2.5%, the best I am hoping for is to lose less money than in US stocks.
I believe that emerging markets are reasonably priced – certainly compared to US equities – but they have not reached completely distressed levels where I would make a major commitment.
Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
