Monday, August 6, 2012

Marc Faber : Market to Rally in Aug, but tough road thereafter

Marc Faber on CNBC TV 18 - 06 Aug 2012 : "In the near-term, I believe that markets can still rally somewhat for the simple reason that in every market you have a few strong stocks and they are breaking out on the upside. And then you have a lot of stocks that are down 40-50% and very oversold, so they can also rebound. We have a lot of liquidity in the world that has been created essentially by central bankers.
We have negative real interest rates practically everywhere. So if people keep their money on deposits, they are losing out in terms of purchasing power. The sentiment among investors, at the beginning of June, was very negative when the S&P bottomed out. So I think that we may still rally somewhat into August -- mid-August, end of August and then probably will have a tougher second half. In other words, September-October-November could be somewhat tougher months."
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Dr. Marc Faber Tomorrow's Gold







Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager.