For What It's Worth
Marc Faber, who predicted the U.S. stock market crash in 1987, said global assets are poised for a "severe correction'' and it's time to sell.
"In the next few months, we could get a severe correction in all asset markets,'' Faber said in an interview with Bloomberg Television in New York. "In a selling panic you should buy, but in the buying mania that we have now the wisest course of action is to liquidate.''
Faber, founder and managing director of Hong Kong-based Marc Faber Ltd., advised investors to buy gold in 2001, which has since more than doubled. His company manages about $300 million in assets.
Marc Faber, who predicted the U.S. stock market crash in 1987, said global assets are poised for a "severe correction'' and it's time to sell.
"In the next few months, we could get a severe correction in all asset markets,'' Faber said in an interview with Bloomberg Television in New York. "In a selling panic you should buy, but in the buying mania that we have now the wisest course of action is to liquidate.''
Faber, founder and managing director of Hong Kong-based Marc Faber Ltd., advised investors to buy gold in 2001, which has since more than doubled. His company manages about $300 million in assets.
posted by Dave at 7:11 PM
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