Thai Stocks topping

Thai stocks are now not cheap, but the economic cycle has seen expansion topping four years. I own a lot of Thai shares but I don't think Thai stocks will go up much [from the current SET Index of around 1,400]. Good stocks like Kiatnakin Bank and CP Food have fallen by more than 50 per cent. On properties, we have seen tremendous speculation on Thai real estate as prices have gone up significantly in Chiang Mai, or areas bordering Laos, Cambodia and other countries, but if you look at Hong Kong, Singapore, London, or New York's Manhattan, they are extremely expensive compared to Bangkok's high-end condos, which are now not cheap either by local standards.

Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.