Tuesday, April 7, 2009

Marc Faber - Author of Gloom, Boom and Doom speaks with Bloomberg

Marc Faber, investment guru and the author of the Gloom_Boom_Doom report speaks with Bloomberg about the recent bear market rally.

Major points from the video

- Many stocks hit their lows back in October
- We're set for a 5-10% correction
- We rallied on the S&P from 660 to above 840. Faber thinks we'll head south, but not to the October/November lows
- As an investor, Faber has done well investing in resource stocks. Newmont Mining Corp., and some speculative exploration companies. However he feels you should not avoid these plays until after the correction and improved economic fundamentals.
- Right now he's venturing into banking stocks, carefully...