Sunday, January 30, 2011
Marc Fabr espera baixas
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Faber Sees 10% Retreat in S&P 500 Index, Saying U.S. Stocks Are Overbought
By Rita Nazareth and Carol Massar - Jan 25, 2011 7:09 PM GMT-0200
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Marc Faber of Marc Faber Ltd
Marc Faber, founder and managing director of Marc Faber Ltd. Photographer: SeongJoon Cho/Bloomberg
Marc Faber, who told investors to buy U.S. stocks in March 2009 before the Standard & Poor’s 500 Index began to rally, said the gauge may drop 10 percent because too many investors are bullish.
“A correction is coming,” Faber said in an interview from Zurich with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart.” “Equities in the U.S. will go down less than emerging markets.” He predicts a drop of as much as 30 percent for equities in developing countries.
The MSCI Emerging Markets Index has advanced 134 percent from its low in March 2009, while the S&P 500 jumped 91 percent. Equities gained as central banks kept interest rates near record lows and governments spent trillions of dollars to spur growth. On Nov. 3, the Federal Reserve said it would buy an additional $600 billion of Treasuries through June.
Faber correctly predicted in May 2005 that stocks would make little headway that year. The S&P 500 gained 3 percent. He was less prescient in March 2007, when he said the S&P 500 was more likely to fall than rise because the threats of faster inflation and slower growth persisted. The S&P 500 then climbed 10 percent to its record of 1,565.15 seven months later, and ended the year up 3.5 percent.
Bonds
Faber, who publishes the Gloom, Boom and Doom report, reiterated his views from a Dec. 30 interview with Bloomberg News when he said that U.S. Treasury bonds are a “suicidal” investment and are likely to decline in the long-term.
After bottoming in December 2008, the 10-year Treasury yield rose as high as 3.9859 percent in April on government measures to stimulate the economy. Concern about a second recession in three years sent yields lower through October. Treasuries rose today, pushing yields on 30-year bonds down the most this year, on speculation President Barack Obama will propose a five-year freeze of non-security discretionary spending to help cap record deficits.
“Treasuries are the best place for the next 10 days,” Faber said. “Not for the longer-term”
To contact the reporters on this story: Rita Nazareth in New York at rnazareth@bloomberg.net; Carol Massar at cmassar@blooomberg.net
To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.
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Related News:
* U.S.
Faber Sees 10% Retreat in S&P 500 Index, Saying U.S. Stocks Are Overbought
By Rita Nazareth and Carol Massar - Jan 25, 2011 7:09 PM GMT-0200
*
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* inShare0
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o Business Exchange
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Marc Faber of Marc Faber Ltd
Marc Faber, founder and managing director of Marc Faber Ltd. Photographer: SeongJoon Cho/Bloomberg
Marc Faber, who told investors to buy U.S. stocks in March 2009 before the Standard & Poor’s 500 Index began to rally, said the gauge may drop 10 percent because too many investors are bullish.
“A correction is coming,” Faber said in an interview from Zurich with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart.” “Equities in the U.S. will go down less than emerging markets.” He predicts a drop of as much as 30 percent for equities in developing countries.
The MSCI Emerging Markets Index has advanced 134 percent from its low in March 2009, while the S&P 500 jumped 91 percent. Equities gained as central banks kept interest rates near record lows and governments spent trillions of dollars to spur growth. On Nov. 3, the Federal Reserve said it would buy an additional $600 billion of Treasuries through June.
Faber correctly predicted in May 2005 that stocks would make little headway that year. The S&P 500 gained 3 percent. He was less prescient in March 2007, when he said the S&P 500 was more likely to fall than rise because the threats of faster inflation and slower growth persisted. The S&P 500 then climbed 10 percent to its record of 1,565.15 seven months later, and ended the year up 3.5 percent.
Bonds
Faber, who publishes the Gloom, Boom and Doom report, reiterated his views from a Dec. 30 interview with Bloomberg News when he said that U.S. Treasury bonds are a “suicidal” investment and are likely to decline in the long-term.
After bottoming in December 2008, the 10-year Treasury yield rose as high as 3.9859 percent in April on government measures to stimulate the economy. Concern about a second recession in three years sent yields lower through October. Treasuries rose today, pushing yields on 30-year bonds down the most this year, on speculation President Barack Obama will propose a five-year freeze of non-security discretionary spending to help cap record deficits.
“Treasuries are the best place for the next 10 days,” Faber said. “Not for the longer-term”
To contact the reporters on this story: Rita Nazareth in New York at rnazareth@bloomberg.net; Carol Massar at cmassar@blooomberg.net
To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.
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* inShare0
* More
o Business Exchange
o Buzz up!
o Digg
Related News
* U.S.
Sponsored Links
"Subscribe Now & Get Your Free Issue of Bloomberg Markets Magazine "
More Stories
*
Sawiris Says Suleiman Appointment May `Not Be Enough' to End Egypt Protest
*
Dubai Shares Plunge Most in Year, Lead Gulf Drop, on Egypt Risk, Protests
*
Japan wins Asian Cup with 1-0 over Australia
*
Japan's Debt Rating Lowered to AA- by Standard & Poor's; Outlook Is Stable
[Rate These Stories] Rate These StoriesMore News »
Advertisement
Market Snapshot
* U.S.
* Europe
* Asia
Ticker Price Price Delta
Dow 11823.70 -166.13 (-1.39%)
S&P 500 1276.34 -23.20 (-1.79%)
Nasdaq 2686.89 -68.39 (-2.48%)
Ticker Price Price Delta
STOXX 50 2954.13 -35.62 (-1.19%)
FTSE 100 5881.37 -83.71 (-1.40%)
DAX 7102.80 -52.78 (-0.74%)
Ticker Price Price Delta
Nikkei 10360.30 -118.32 (-1.13%)
TOPIX 919.69 -9.97 (-1.07%)
Hang Seng 23617.00 -162.60 (-0.68%)
Stocks on the Move
Most Popular Stories
*
Dubai Shares Fall Most Since May on Egypt Unrest, Pacing Mideast Decline Updated 45 minutes ago
*
Mubarak Names Intelligence Chief Vice President in Step Toward Succession Updated 4 hours ago
*
Payrolls Probably Rose at a Pace Underscoring Fed Concern Over Job Market
*
Wall Street's Collapse to Be Mystery Forever: Jonathan Weil
More Most Popular Stories »
Advertisement
Advertisements
Sponsored Links
Last update: 12:04 AM ET, Jan 26
Bloomberg
[Rate this Page] Rate this Page
Go to the old version of Bloomberg.com
Make the mobile site my default
News
* Exclusive
* Worldwide
* Regions
* Markets
* Industries
* Economy
* Politics
* Law
* Environment
* Science
* Opinion
* Muse: Arts, Culture & Spend
* Sports
Market Data
* Stocks
* Rates & Bonds
* Currencies
* Mutual Funds
* ETFs
* Commodities
* Economic Calendar
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More from Bloomberg
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* Contact Us
* Press Room
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©2011 BLOOMBERG L.P. ALL RIGHTS RESERVED. Terms of Service Privacy Policy Advertising
Unless indicated otherwise, intraday market data is at least 15 minutes delayed.