Marc Faber Sees Potential for Profit in China and Japan
As a recent CNBC Squawk Box guest, Marc Faber, publisher of the infamous Gloom, Boom, and Doom Report provided his opinion on world stock markets. Faber pointed out, as he has repeatedly in recent interviews, that European markets were near their 2009 lows only a few months ago. He bought European shares then; a first for him since valuations were so enticing. A strong rebound ensued with Greek stocks rising 65% according to Faber.
Faber said various Asian countries have experienced huge rebounds in their stock markets over the past few years. However, China and Japan have been moribund and may represent an opportunity, he added. “If Greece can rebound by 65%, then the greatest garbage can rebound by 65%,” he said.
“This is not to imply the Chinese economy is improving, on the contrary, it is worsening,” according to Faber, “asset allocators look at markets that are up and those that are down and money shifts.”