The folks at Bloomberg seem to understand just how sharp Faber is.
It was thanks to his bottom calling in February 2009, two weeks and 9% early, that we were able to call the turn within 24 hours of the March 9 bottom.
From our March 3, 2009 post "Marc Faber: Stocks Poised to Rally":
Mr. Faber's comments were originally reported on February 23, the S&P 500 opened that day at 773.25. In the intervening week, the market was down over 9%.
From Bloomberg via MoneyNews:
Investment guru Marc Faber, publisher of The Gloom, Boom & Doom Report newsletter, sees better times ahead for the stock market.
That may surprise many, given that stocks dropped to fresh lows this week as the government wrestled with bank bailouts and rumors of nationalization in the financial sector.
But Faber tells Bloomberg that the economy and markets have slumped so badly that they should soon rebound — at least a little bit...MORE
Marc Faber, who advised investors to buy U.S. stocks in March 2009 as the Standard & Poor’s 500 Index began a rally of as much as 86 percent, said U.S. Treasuries are a “suicidal” investment.
Government bonds are likely to decline, said Faber, who publishes the Gloom, Boom and Doom report. After bottoming in December 2008, the 10-year Treasury yield rose as high as 3.9859 percent in April on government measures to stimulate the economy. Concern about a second recession in three years sent yields lower through October.
“This is a suicidal investment,” Faber said in a telephone interview from St. Moritz, Switzerland. “Over time, interest rates on U.S. Treasuries will go up. Investors will gradually understand that the Federal Reserve wants to have negative real interest rates. The worst investment is in U.S. long-term bonds.”...MORE