Thursday, August 23, 2007

Dr Doom: Marc Faber on whether to buy or sell amidst the ‘rot and leverage’

By popular demand from his band of subscribers, Marc Faber (aka Dr Doom) has weighed in with an update between his usual monthly commentaries to opine on the state of asset markets - and resists the urge to say “I told you so” (in as few words) after last month’s prescient commentary on the Hindenburg Omen and the coming market upheaval.

First, says Faber: “I do not regard the current market conditions to be unusual but I do consider the market conditions that preceded the current correction (the period between March 2003 and July 2007) to have been unusual since they were characterised by extremely low volatility and a relentless increase in all asset prices.”...

Read the whole thing.
From FT Alphaville