Marc Faber: "Extremely Oversold"

Wednesday, October 22, 2008 | 02:00 AM

click for video

Marc Faber:

"We're extremely oversold at the present time,'' Faber said in an interview with Bloomberg Television. "The market is in a position to rebound.''

The Standard & Poor's 500 Index dropped 38 percent from its record 1,565.15 reached Oct. 9, 2007, as investors speculated more than $660 billion in bank losses will spur a recession. The ratio of stocks advancing versus those declining on the New York Stock Exchange fell to a 17-month low on Oct. 15.

Faber said he is holding gold, cash and short-term bonds because inflation will increase as the U.S. government lowers interest rates to stave off an economic slowdown. Gold climbed 5.8 percent from Sept. 11 through yesterday and yields on three- month Treasury bills fell 51 percent over the period.

Faber Says Stocks May Rally, Won't Reach Records
Eric Martin and Rhonda Schaffler
Bloomberg, Oct. 20 2008

Wednesday, October 22, 2008 | 02:00 AM | Permalink | Comments (34) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



TrackBack URL for this entry:

Listed below are links to weblogs that reference Marc Faber: "Extremely Oversold":


so.... Barry. If you're bullish, and Faber is bullish. And other notable bears are bullish. And the bulls are shocked, but still bullish at these new and "attractive levels..."

Then who the hell is bearish?

Sounds like an imbalance to me... If you were bullish when everyone else was bearish I would buy it. But it seems to me that everyone and their brother is a bull right now.

Posted by: toddZ | Oct 22, 2008 2:40:45 AM

The comments to this entry are closed.

Recent Posts

December 2008
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      


Complete Archives List



Category Cloud

On the Nightstand

On the Nightstand

 Subscribe in a reader

Get The Big Picture!
Enter your email address:

Read our privacy policy

Essays & Effluvia

The Apprenticed Investor

Apprenticed Investor

About Me

About Me
email me

Favorite Posts

Tools and Feeds

AddThis Social Bookmark Button

Add to Google Reader or Homepage

Subscribe to The Big Picture

Powered by FeedBurner

Add to Technorati Favorites


My Wishlist

Worth Perusing

Worth Perusing

mp3s Spinning

MP3s Spinning

My Photo



Odds & Ends

Site by Moxie Design Studios™