Investment guru Marc Faber warns savvy investors to buy European shares amid a looming U.S. market tumble.
“I would buy European stocks,” Faber told Fox Business Network. He said the U.S. market is “completely out of range” with the other world markets.
“Investors should understand that markets can also go down and it would not surprise me to see the inflated asset markets especially the financial markets being down 20 to 40 percent at some point,” the publisher of the Gloom, Boom & Doom report predicted.
Faber doesn’t believe all the media hype surrounding the raging bull stock market since Donald Trump won the election.
“ I think there will be a closing of this diverging performance with either Europe outperforming the U.S. or both going down or the U.S. going down more,” he told the Fox Business Network’s Charles Payne.
However, other business icons are much more optimistic.
Steve Forbes, chairman and editor-in-chief of Forbes Media, recently told Newsmax TV that he is optimistic that stocks have room to reach new records as President Donald Trump pushes forward with his pledge to cut taxes and regulation.
“Markets always try to anticipate the future. One of the reasons it had such a big surge since the election, especially small-cap stocks, is in anticipation of deregulation which the president started and I think he's going to follow through on that,” Forbes told Steve Malzberg on Newsmax TV's "America Talks Live."
(Newsmax wire services contributed to this report).
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