Marc Faber Warns ‘Correction Is Overdue’ For U.S. Stocks

“Doctor Doom” Marc Faber, publisher of the monthly investment newsletter The Gloom Boom & Doom Report, talked about financial markets and investment strategy on Bloomberg Television’s In The Loop last Friday. Dr. Faber, who became famous for advising clients to get out of the U.S. stock market one week before the October 1987 crash, warned viewers via the phone that U.S. equities were overdue for a correction. From his exchange with show host Betty Liu :

LIU: So you’re saying we’re in for a correction on the S&P?
FABER: I think regardless of what the markets will do thereafter, near-term, a correction is overdue. And usually February is a seasonally-weak month. We will then have to watch how the correction unfolds. Whether maybe we’ve had already a major top like in January 1973 the market peaked-out and thereafter was sliding for two years. It will be interesting to see how the correction unfolds.

(Editor’s note: Italics added for emphasis)

“Marc Faber on Investment Strategy, Markets”
Bloomberg Television Video

By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)