"In 1987, we had a very powerful rally, but also earnings were no longer
rising substantially, and the market became very overbought," Faber
said on Thursday's "Futures Now."
"The final rally into Aug. 25 occurred with a diminishing number of
stocks hitting 52-week highs. In other words, the new-high list was
contracting, and we have several breaks in different stocks."
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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