Marc Faber Ultra-Bearish Outlook about most Asset Markets

Marc Faber : "That something is not quite right with the economy is evident from the recent performance of Wal-Mart, Tiffany, Genesco, and Kohl's. What disturbs me about most asset markets is that we had outsized gains since early 2009 (there are exceptions such as Vietnamese, Chinese, Japanese, and European equities , and also U.S. housing). In my opinion, investors' expectations about future returns on their assets are far too optimistic. In a world that currently hardly grows, investors will need to reduce their future return expectations. I believe 2013 will not be a favourable year for holders of assets. My priority has now shifted to the preservation of the outsized gains I have achieved over the last three years." - in his "Gloom, Doom & Boom" monthly report