Faber Says Oil, Stocks, Real Estate Are Overvalued

Wednesday, June 11, 2008 | 03:30 AM

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"Stocks, property and commodities are overvalued as an economic slowdown and inflation will curb earnings growth and erode the value of assets, investor Marc Faber said.           

Oil may have peaked after a 43 percent increase this year, said Faber, the Gloom, Boom & Doom report publisher, in a Bloomberg Television interview today. He said he favors the dollar against the euro, as well as gold.    


"I don't see any compelling value in equities, real estate or commodities,'' Faber said from Zurich. ``Contrary to the last 25 years, we are in a period of de-leveraging. Corporate profits in particular are still far too high for 2009 and have to be adjusted downwards, and valuations become less compelling.''



Stocks, Real Estate and Oil Are Overvalued, Marc Faber Says
Carol Massar and Alexis Xydias
BLOOMBERG, June 9 2008

Wednesday, June 11, 2008 | 03:30 AM | Permalink | Comments (16) | TrackBack (0)
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WOW ...looks like Bloomberg can't HANDLE THE TRUTH!

This guy sounded spot on to me, but he started talking badly about Bernanke towards the end and they conveniently ran out of time!

He also mentioned things like ...how can I buy Citi Group when I have no clue what they are really worth! :)

Great clip Barry ...thanks!

Posted by: Jim | Jun 11, 2008 4:18:06 AM

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