Marc Faber: Stock Market Rally ‘Will End Badly’ So Buy Gold
By Dan Weil
Friday, 08 Mar 2013
Marc Faber, publisher of the Gloom, Boom & Doom Report, thinks stocks have shot to overvalued levels; therefore, it continues to make sense to own gold.
Stocks will either endure a 20 percent correction this year before making a definitive move higher, or they will suffer through a 1987-style crash, when the market rose early in the year then dropped more than 20 percent in a single day in October, he tells CNBC.
Stocks already have soared more than 100 percent from their March 2009 lows, Faber notes. “I think investors who today are rushing to stocks need to be reminded” of the market bottom exactly four years ago.
“It will end badly this year.”