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Faber says stocks may rally "soon"
Monday, February 23, 2009
In this interview with Bloomberg's Deirdre Bolton and Erik Schatzker, it sounds as though Marc Faber, publisher of the Gloom, Boom, and Doom report, is being as contrarian as ever in talking about how equity markets might rally "soon".
Click to play in a new windowExtremely bearish sentiment, disastrous economic news that has already been discounted and can't get much worse, and guaranteed higher levels of money printing by central banks all factor into his assessment.
4 comments:
I don't see the "Extremely bearish sentiment"... seems almost everyone believes we are overdue for a rally. I remeber Ritholtz believed Dow 7800 would hold... even bears like Sinclair believe we are overdue. Wouldn't bearish sentiment be more like most analysts predicting Dow 4000 or so?
Bearish? 4000? 2000 more like.
WTF? Last week Faber was saying the US will default on its debt, and Zimbabwe-like inflation will make the US a 'banana republic'.
Bourses in banana republics often have wild swings up and down, and ultimately don't make any net headway. Sound familiar?
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