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Marc Faber, Editor, Publisher-The Gloom, Boom & Doom, feels global markets would rally a bit more. He said 2009 is likely to be better than 2008 for global markets. “But they are likely to retest their October lows after that.”
Faber believes commodities are oversold but sees it rallying further. He expects an upside potential for crude and said geo-politics would impact prices.
Here is a verbatim transcript of the exclusive interview with Marc Faber on CNBC-TV18. Also watch the accompanying video.
Q: How have you read the big rally that came into many global equity markets in early parts of January and do you think that’s now coming apart?
A: We were oversold when the S&P in the
Q: Is that how you are seeing 2009 that the Q1 may not be too bad but by the time we get over that we go back and retest October lows for most markets including India?
A: The consensus is that 2009 will be better than 2008 and I do not think it will be much worse. I do not think we will drop another 50%. But the contrarian view would be to think that all the monetary and fiscal injections by government fail and that they run out of ammunition and the market will drift lower.
Continued on page 2...
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Today's Special Column
with Ajay Piramal
Piramal Enterprises Limited , Chairman


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