Tracking Dr. Marc Faber of The Gloom Boom and Doom report , Marc Faber nicknamed Doctor Doom , a world class investor and a regular speaker at various investment seminars, Dr Marc Faber is well known for his "contrarian" investment approach.
In this clip of Marc Faber on CNBC, he says that in general, markets were quite oversold when the markets bottomed in 2009. Right now, many stocks have risen by more than 100%. This signals a very overbought correction, especially in the United States. Whether it will be a correction or whether stocks will hit new lows is not certain. We can never be too certain about the future.
The market to some extent is already pricing in the fact that bonds are no longer very high quality. The United States government will eventually go bust – massively so. But it’s a question of time. Marc Faber on CNBC sya that if they can print money and if people are willing to accept that money, it can keep going for a long time.
Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.