Marc Faber : "let's put it this way , equities have more or less doubled in price from the lows of March 2009 , we are in 2012 so we are 3 years into bull market I do not think that equities are a great bargain I think that the money printing has also flowed into corporate profits , so we have a corporate profit inflation we have a record corporate profit in the US but I don't expect it to go on for ever so I am very cautious about equities right now , in fact I think that we may have seen not just a temporary high a few weeks ago when the S&P went to 1422 , I think this could be the longer term high in other words , we don't exceed this April high this year , but equally I think it is a risk not to own any equities at all for the following reason , I think it is increasingly obvious that the central banks of this world will keep on printing money and that as a result of this money printing the purchasing power of paper money will diminish over time irregularly but it will diminish and so you have to own some assets , I happen to think that home prices in southern US are now relatively low , relatively attractive and I would probably if I were a US citizen and live in the US buy some homes remodel them and sell them out you will get a high return compared to say zero interest rate on deposits .....
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