Emerging markets are looking slightly better

There is some optimism about the Indian markets because the current account deficit (CAD) is shrinking, and the rupee, which was very weak until about five months ago, has been strengthening. Though, I think the rupee will weaken again. The global investors look at valuations, they have their models, they see Turkey, Russia, Brazil, India, Vietnam and China as relatively depressed markets, and so they have moved some money into these markets. If have to choose between US and India for investing all your money today, I think I will probably choose India. The corporate sector is run quite well in India.

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