Marc Faber: S&P to Drop 10%, Sparking QE3

Thursday, August 16, 2012

Marc Faber: S&P to Drop 10%, Sparking QE3

MARC FABER: WELL BASICALLY WE HAD QUITE A STRONG RALLY FROM A LOW OF 1266 IN JUNE WE ARE UP NOW TO ESSENTIALLY OVER 1400. SO WE HAVE A STRONG RALLY. THE RALLY WASN’T CONVINCING IN TERMS OF NEW HIGHS AND IN TERMS OF VOLUME BUT NEVER THE LESS WE HAVE THIS RALLY I THINK IN THE LAST FEW DAYS THE MARKET HAS TRADED AS IS THE CASE FOR GOLD IN A VERY NARROW RANGE. AND I THINK THE MARKET IS GOING BREAK OUT OF THIS RANGE. MY GUESS WOULD BE ON THE DOWNSIDE AND NOT ON THE UPSIDE BECAUSE THE MARKET IS ALREADY OVERBOARD HERE SO THAT’S WHERE I STAND. NOW HOW LOW WILL WE GO? I THINK IF THE MARKET DROPS 150 POINTS ON THE S&P WE WILL HAVE QE3 & 4.

Dr. Marc Faber Tomorrow's Gold

Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager.