Faber: Market May Fall Below 1,100

By Edward Harrison On Sep 27, 2011

Marc Faber told CNBC yesterday that he thinks the S&P500 could fall to as low as 1010 by the end of the ongoing sell-off. Faber also believes gold could fall. However, he believes both markets are oversold and is more keen to buy gold on a rebound than equities.

Also note Marc’s comments on China where he sees the selloff in Dr. Copper as a sign of a slowing Chinese economy. In his view, recent market turmoil has more to do with China than Greece. Longer-term, he is still bullish on Asia.

Note: this post has been altered to reflect Faber’s view that it is equities which could have further to fall despite being oversold instead of gold.

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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4 Comments

kiril says 13 years ago

Please listen properly ….he is talkin abt 1100 on the S&P
1. Pierre says 13 years ago
  
  I second kiril’s view. He speaks of the S&P 500. On Gold, he is prepared to consider buying at present levels…
Dave Holden says 13 years ago

Gonzalo Lira on on copper https://gonzalolira.blogspot.com/2011/09/forget-goldwhat-matters-is-copper.html
David Lazarus says 13 years ago

I still think that Greece is the main reason for current volatility though further out China will definitely be the cause. Especially once it slows down.

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