In a September 1, 2009 interview with New Delhi TV Dr. Marc Faber discusses the possibility of financial market corrections and global currencies. (Interview follows excerpts and comments)
I believe in the next 10 days to two weeks we’ll get big moves in markets. And I wouldn’t be surprised if the Dollar would for a change strengthen and equity markets would correct and possibly quite meaningfully so.
This seems to be the consensus among contrarian forecasters like Bert Dohmen, Harry Dent and Martin Armstrong. Perhaps we won’t see a comple collapse just yet, but a correction is likely on its way.
Now what we have is extreme optimism among investor and economists about the outlook for the economy and about the stock market and extreme pessimism about the US Dollar. And, therefore for the next four weeks or even three months it’s possible that equities will dissapoint and that the correction that is going to happen is more severe than is anticipated….and that at the same time the US Dollar rebounds somewhat.
The last time Dr. Faber made a call with certainty like this was back on March 6 in a CNBC interview where he recommended buying international stocks and commodities. And we all know how that turned out, so ignoring Faber here could be dangerous to your portfolio if you are expecting a continued rise in US financial markets.
Shout out to Marc Faber Report for alerting us to this one
Watch the Marc Faber September 1, 2009 Interview: