Marc Faber, self-described pessimist and regular Barron’s Roundtable participant, shares his take on Asian markets with Bloomberg Radio.
While the Chinese stock market has already discounted a lot of bad news, the “good companies” are not really inexpensive. He prefers to waitto see the results of the stimulus packages (which he thinks will fail).
His take on recently hot Philippines/Indonesian stocks: “I don’t think there is particularly good value at present time. He says the Chinese slowdown and European recession will make it difficult for Asian nations to grow from present levels.
Will the Chinese be able to stimulate consumption? Faber says it depends on consumer confidence, which he does not think is very high.
For the first time in his life, Faber says he has been buying European stocks.
