Bernanke Won't Allow Another Crash-Marc Faber
Source: Yahoo! Finance (3/12/10)
"50-50 chance the bottom is not in yet."
"I would rather be lightening up on positions in the next couple of weeks than heavily buying in here," says Marc Faber, editor of the Gloom, Boom and Doom Report.
Accompanied by Michael "Mish" Shedlock, the man behind the economics blog, MISH'S Global Economic Trend Analysis, Faber tells Tech Ticker there's very few opportunities to make money in the market right now.
"Mish" who also thinks it's time to take profits, goes even further, predicting a "50-50 chance the bottom is not in yet."
Faber, however, is confident we won't "see 666 on the S&P 500 ever again." He says "if we go down by 10%–20% on the S&P 500, our money printer Ben Bernanke will flood the market, weakening the dollar," and thereby driving up stock prices.
If you are going to put money to work in stocks both market watchers think Japan is the place to be. After a 20-year bear market and despite high debt-to-GDP levels, the pair thinks the market has become too cheap to ignore. Always a contrarian, Faber believes the lack of interest in Japanese stocks makes it one of the most compelling buys in the world.