What Concerns Marc Faber
On CNBC today Marc Faber, publisher of the Gloom Boom and Doom report, expressed his main concern about the current market climate. Faber said he expects a climb before a crash in the summer.
What is disconcerting to Faber is that foreign equity markets have not participated in the rally. “Emerging market stocks have dropped 10% and European markets have grossly underperformed the U. S.”, he said. “In other words the U. S. is the only game in town,” he added. The last time there was only one game in town – NASDAQ 1997-2000 – the housing market – and commodities in 2008, and then emerging markets, it ended badly, Faber stated.
Back in late February Faber said stocks had hit an intermediate term top [link].