Marc Faber: ‘I Would Be Very Careful Being Overweight Equities’
On Wednesday, The Globe and Mail (Canada) published an interview it conducted with “Doctor Doom” Marc Faber, a Swiss-born investment who publishes the monthly investment newsletter The Gloom Boom & Doom Report. Dr. Faber, who became famous for advising clients to get out of the U.S. stock market one week before the October 1987 crash, has been warning for some time now about another 1987-like correction in the stock market. When I last blogged about “Doctor Doom” back in March 13, he had this to say about the nice run in equities:
I believe it will end badly this year.
The Canadian publication alluded to this and asked what could precede such an event. Dr. Faber warned:
Something could come along, geopolitically or otherwise. I would be very careful being overweight equities. I still have 25 per cent in equities and 25 per cent in corporate bonds.
The article added:
He said he feels “deeply uncomfortable” with that much allocation to equities, but also doesn’t want to shut stocks out entirely given the possibility they could still rise significantly before a correction.
Faber, who also predicted the ongoing bull market in gold, revealed that his maximum allocation to gold at the time of the interview was 25 percent of assets.
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.)
Source:
“Master of doom Marc Faber is feeling gloomy about Canada.” The Globe and Mail. 8 May 2013. (http://www.theglobeandmail.com/globe-investor/inside-the-market/master-of-doom-marc-faber-is-feeling-gloomy-about-canada/article11788240/). 11 May 2013.
Survival And Prosperity
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Source: http://survivalandprosperity.com/2013/05/11/marc-faber-i-would-be-very-careful-being-overweight-equities/
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