Thursday, July 31, 2014

Marc Faber: 30 percent correction by September 2014

I think that we will make a peak sometime within the next 30 [Thirty] to 60 [Sixty] days and then we go down meaningfully [20 to 30 percent correction]. 

Don't forget many stocks are already down 10 percent. Home-builders are down roughly 15 percent. Airlines have just dropped 10 percent and you have lots of individual stocks such as Twitter and Yelp that are down 30 - 40 percent already. So we are not in a uniformly strong market. The Russell 2000, which represents 2000 companies is down 2 percent for the year.