According to BI Marc Faber is still convinced that there's a
100 percent chance of a global recession and that stocks are due for a big
sell-off. While Faber favors gold, he
thinks that it too is due for a correction after staging a huge rally.
It has a huge rally from around – the low was at $1,522 last
December and we are now over $1,700 and I think we need a correction here. In
fact, I am now bearish about practically all assets near term I think we’re
entering a correction time where there will be some disappointments, where
stock markets, from the recent times can easily drop 20%.
However, Faber's bearish stance isn't so bearish that he has
dumped everything.
I’m not 100% in cash, for the simple reason that I could be
wrong, but in general I think that people that have a heavy exposure to assets
being that equities, or gold, or other commodities. I think they will face some
profit taking here....
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