One cannot be overly optimistic about Equities

Marc Faber : well, I don't know. I think that in general one of the reasons one cannot be overly optimistic about equities is if you go back to the period 1982 when the market bottomed out in august '82 up to year 2000, investors kind of worldwide trusted the regulators, they trusted the system and they were enthusiastic about owning equities. over the last ten years, the mood has changed a lot. investors and individuals in particular don't trust management anymore they are upset about executive compensation and they have low view of that. they are upset about the regulators. they think the markets are rigged. they are upset about rating agencies. there is a mistrust in paper. i think a lot of individuals will not come back to the share market and on rebounds they will reduce their positions. - in CNBC