Tags: Faber | Buy | US | Stocks

Faber: 'It's Probably Too Late' to Buy US Stocks

By    |   Tuesday, 18 Feb 2014 08:40 PM

With the Standard & Poor's 500 Index already up 176 percent from its March 2009 low, "it's
probably too late to buy" U.S. stocks, says Marc Faber, publisher of the Gloom, Boom & Doom Report.

March 6 will mark the fifth birthday of the bull market, and by March 31 it will be the second-longest bull market in the last eight years, Faber tells CNBC.

"Usually these long bull markets, they end badly—in a crash like in 1987 or in a significant decline like after March 2000 or after October 2007," he said. "So I don't think it's a very opportune time to buy equities."

Editor’s Note: These 38 Dates Are Key to Bagging $313,038

As for emerging markets, "you need to be fearful now," because more declines are likely, Faber said. "I think it's still too early to make a major commitment to emerging stock markets, except in Vietnam or maybe in Iraq."

But looking out five to 10 years, based on valuations you're likely to make more money buying now in emerging markets than in the United States, Faber says.

With the S&P 500 less than 1 percent from its record high, many investors don't share Faber's bearishness on U.S. stocks, even though some recent economic data have been weak.

“Weaker economic numbers have been shrugged off,” Eric Green, a fund manager at Penn Capital Management, told Bloomberg.

"It seems like the consensus view is that weather is a huge issue in the numbers. The outlook looks pretty benign right now. We can probably reach new highs."

Editor’s Note: These 38 Dates Are Key to Bagging $313,038

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With the Standard & Poor's 500 Index already up 176 percent from its March 2009 low, it's probably too late to buy U.S. stocks, says Marc Faber, publisher of the Gloom, Boom & Doom Report.
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Tuesday, 18 Feb 2014 08:40 PM
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