real-time news and commentary for investors
Saturday, Aug 10
The silver (or gold) lining in Marc Faber's gloomy prediction
- Marc Faber is calling for a 20% decline in stocks by year's end. Of course this is really more a reminder that he hasn't given up on his perpetually gloomy outlook amidst a historic rally than it is an actual prediction about the direction of the market. Faber is bullish on some equities however.
- "I think there's one group of stocks that should appeal to people who say 'I want to buy low and sell high,' and this is the gold mining sector," Faber says.
- The miners have performed horribly this year, but if you believe in Warren Buffett's "buy when others are fearful" theory, now might be a good time to look at the group.
- Related ETFs (which, by the way, were among the week's winners): GDX GDXJ