Thursday, August 9, 2012

MARC FABER : The S&P 500 Could Soar To 1,500 Before Collapsing

Marc Faber : 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. Then, you have a lot of stocks that are down 40 or 50 percent and are very oversold, so they can also rebound…
I think that we may still rally somewhat into August – mid-August, end of August – and then probably we'll have a tougher second half. In other words, September, October, and November could be somewhat tougher months...
The high was this year on April 4 at 1422. I think it's possible, based on the few stocks that are strong and the rebound candidates, that we will exceed that high – maybe move to 1450 or even 1500.
"I think these lows could be exceeded and I think it may be October or November – or after the U.S. election – we could essentially have a decline of around 20 percent in the market." - in CNBC TV18
Click here to watch the full interview >>>>>>>
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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.