One of my favourite investors is Marc Faber. I respect him because he is one of the earliest (together with Jim Rogers) to warn of the impending financial catastrophe, way back in end 2007. Many people were still bullish at that time. Recently, I read in the Edge on his opinion:
Marc Faber: 'Usually the market bottoms out between end-September and early November, then we can have a technical rally after that. But forget about new highs. There will be no new bull market for a long time because we have two totally incompetent policymakers in the US: Mr Paulson and Mr Bernanke. The markets are deeply oversold and we will have a trading rally between now and the spring of next year but there will be no new highs even with a bailout plan." (The Edge, Oct 6 2008)
I tend to agree with him again this time round. I feel that the market is ready for a rebound, albeit a temporary one. My next article shall explain why.
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