Marc Faber offers his views on the direction of the US stock market, the outlook for Asian shares, inflation, and the global economy in this latest Bloomberg TV interview.
On April 7, Bloomberg filed a story on Marc's view of the current bear-market rally in US shares. The piece notes that Faber sees a likely 10% correction ahead for the S&P 500, after which US shares may resume their rally into the summer months.
"Marc Faber, the investor who recommended buying U.S. stocks before the steepest rally in more than 70 years, said the Standard & Poor’s 500 Index may drop as much as 10 percent before resuming gains.
The measure may decline to about 750 and rebound after July, Faber, 63, said in a Bloomberg Television interview in Singapore. Global stock markets are unlikely to fall below their October and November lows, he said.
“We need some kind of correction, maybe around 5 to 10 percent, and after that we can maybe rally more into July,” said Faber, the publisher of the Gloom, Boom & Doom report. “The economic news, while it won’t be good, the rate of getting worse will slow down.” "
This "deceleration of bad news" theme was touched upon by Marc in a previous March interview with Bloomberg TV. Meanwhile, Marc's outlook for Asian shares is especially favorable, as these share markets are where he finds the most value.
See also: Marc's pointed comments on the US government's plan for the banks' toxic assets and the "rotten apples" that are Tim Geithner, Ben Bernanke, and Larry Summers. Your thoughts?
Related articles and posts:
1. Stocks may see correction, Faber says - Bloomberg.
2. Soros: gain in stocks is bear-market rally - Bloomberg.