Marc Faber : ...Well I think it is pretty obvious to anyone except may be the Federal Reserve and the ECB and the IMF that the global economy has decelerated very considerably over the last three months already and I expect further weakness in the economic activity in the second half of this year and that basically the share market which had a huge rally between the end of 2008 and the low in March 2009 that carried the S&P from 666 to 1370 on May 2nd of this year that this bull market is over for now and that we are now in a bear market ....
Tuesday, September 20, 2011
Stocks measured by prize earning ratios may not be quite as cheap as all the strategists claim
Marc Faber : The concept of valuation is very difficult when you have zero interest rates , I can make a case that actually the price of gold is still undervalued compared to say the mid 1980s when it was traded at $400/oz , so it is very difficult to say what is valued in this environment , is Picasso a good value or is it over valued ? I do not know , but stocks measured by prize earning ratios and considering that probably the economy will be weakening and that corporate profit may disappoint , may not be quite as cheap as all the strategists claim- in FBN
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