March 06, 2012

Marc Faber 2012 – Markets are overbought, a Correction is coming

Markets are overbought, technically they have deteriorated, and we have very heavy insider selling, so I think a correction is coming.
About gold, He is not convinced that the correction, which began in early September with gold at $1920, is entirely complete. Marc continues to recommend a simple allocation to 4 asset classes: 25% gold, 25% equities, 25% real estate, 25% cash. He also expects higher volatility in the next few years.
Marc Faber the author of the Gloom, Boom & Doom Report said also that Bernanke will initiate Q3 only when the market goes down 10-15%. He believes that Q3 depends on the stock market (equity prices), and the price of oil, which is still high.

Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.