Thursday, February 7, 2013

We could see crash of 1987


We are very overbought, but it is also possible that we have a mild correction in February and then a further increase in stock prices," Faber said on CNBC.

It would be "something that would be similar to '87 where in the first half of the year until August the market went up by 41 percent (only) to lose 40 percent in months in October and November. So it's a possibility that we have a lot of volatility this year in equity prices."

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