User 328968

Portfolio Advice for 2009: Stick to Gold, Stay Away from Stocks

Faber DIDN'T say stocks were going to move higher; he didn't make a concrete prediction, but you can draw your own conclusion from what he wrote here:

>> I should also like to point out that with all the talk of US equities being
so “cheap” the following fact remains: even after an approximately 50%
decline from the October 2007 peak at 1576 of the S&P 500, US equities
in real terms are more expensive than at any time before except for the
1996 to 2008 time frame (US equities in real terms are still more
expensive than they were at the 1929 and 1966 peak – see Figure 10).<<