We had ten miserable years on the S&P

Marc Faber : Well, I think that if you look at say stocks on a ten year space, we are on the S&P say around 1,200 today. And we were at 1,550 in the year 2000, at 1,576 on October 12, 2007. So we had ten miserable years. In Europe, it is even worse. And I think that if you take a long term perspective to buy equities will make you money, but maybe not as much as you expect I think, that the returns for the next five to ten years - okay, one year stocks will be up 30 percent. They are up 100 percent from the lows on March 6, 2009. But, in general, I believe we will have a trading range and, at worse, we could be in a situation like Japan, where the market essentially is still down 70 percent from the highs in 1989.