Better fasten those seatbelts people. European stocks, which have been in a broad upswing for the
past three months, could retreat by up to 20 percent, presenting an opportunity
to move back into the market, says Marc Faber, author of The Gloom, Boom &
Doom Report, according to cnbc.
Faber, who rose to prominence after predicting the stock
market crash of 1987, told CNBC on Thursday that he started to buy European
shares for the first time in June. That month marked a low for European equity
markets, which shed about 15 percent of their value in less than three months.
Europe’s equity markets are a safer bet compared to other European
assets amid a bleak economic outlook, according to Faber, who said he would use
any pull back in the market as a buying opportunity....
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