Also known as Dr. Doom, Marc Faber said that new highs in emerging markets
were unlikely and did not see any buying opportunities in emerging
markets, yet.
In the midst of market volatility on concerns over
Federal Reserve tapering, a variety of asset classes have sold off too
much and could present a near-term investment opportunity, notorious
bear Marc Faber told CNBC.
"Treasury bonds, gold and equity markets are oversold in the near-term
and they can rebound for the next ten days or even the next month,"
Faber, the author of "The Gloom, Boom & Doom Report," said on
Tuesday.
Also known as "Dr. Doom," Faber said that new highs in emerging markets
were unlikely and did not see any buying opportunities in emerging
markets, yet.
New highs in emerging markets and in high yield bonds are out of the
question and if it happened in the S&P, which I don't believe, it
would be driven by very few stocks. Longer term the market is far from
oversold it still has considerable downside risk everywhere," he said.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
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