The Dow Jones all time high and the coming correction! | Dr. Marc Faber: "In short a combination of factors that has usually led to a sharp correction (1987) or a serious bear market (1973/74)). And whereas I think that stock markets could still make a new high into early next year, the majority of equities may already have peaked out.
As a contrarian, I would therefore now rather be short the S&P 500 than maintain long positions. The expected Fed fund rate cuts have probably already been largely discounted by the stock market. In short a combination of factors that has usually led to a sharp correction (1987) or a serious bear market (1973/74)). And whereas I think that stock markets could still make a new high into early next year, the majority of equities may already have peaked out.
As a contrarian, I would therefore now rather be short the S&P 500 than maintain long positions. The expected Fed fund rate cuts have probably already been largely discounted by the stock market. "
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