Hard to find Market Bargains

All asset prices are in the sky, whether it is Picassos or Warhols or the flat that Steve Cohen is trying to sell. 

We are in a bubble. We are the bubble. It is only a question of which asset is in a lesser bubble. 

The U.S. is expensive, compared to the European market and especially emerging economies. Based on the level of today's secular adjusted P/E, returns in the next seven to 10 years will be minor, if not meaningless. The Mexican stock market went up 343 times between 1984 and '87 because of money-printing. Then the currency collapsed. The dollar can't collapse, so gold will come to the forefront. Or Bitcoins.


Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.