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ian said |
| 149 days ago |
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Faber and Rogers know
279 days after this post, time has proven that they knew what they are talking about.
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trent said |
| 1 year 63 days ago |
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Faber predictions
Faber told investors to bail out of U.S. stocks a week before the 1987 Black Monday crash, according to his Web site. He also told investors to buy gold in 2001, before it more than doubled.
Last month, Faber said U.S. stocks are at the beginning of a bear market in which benchmark indexes may fall more than 30 percent. The Dow Jones Industrial Average has since gained 3.8 percent.
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trent said |
| 1 year 63 days ago |
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Prediction
Rogers, who predicted the start of the global commodities rally in 1999, said investors should sell U.S. dollars and bonds. He said he's selling short shares of investment banks and expects them to fall further. The Amex Securities Broker/Dealer Index rose 4.8 percent today, trimming its loss for 2007 to 2.8 percent.
``Gold is very cheap even at over $700 compared to many other commodities and also compared to many other assets in the world,'' he said in an interview from Hong Kong. ``If the Fed cuts interest rates by a half a point, I think it will go ballistic, I think it will go up a lot.''
(Gold rose to a 27-year high today.)
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