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"Stocks, property and commodities
are overvalued as an economic slowdown and inflation will
curb earnings growth and erode the value of assets,
investor Marc Faber said.
Oil may have peaked after a 43 percent increase this
year, said Faber, the Gloom, Boom & Doom report publisher,
in a Bloomberg Television interview today. He said he
favors the dollar against the euro, as well as gold.
"I don’t see any compelling value in equities, real
estate or commodities,” Faber said from Zurich. “Contrary
to the last 25 years, we are in a period of de-leveraging.
Corporate profits in particular are still far too high for
2009 and have to be adjusted downwards, and valuations
become less compelling.”
Stocks, Real Estate and Oil Are Overvalued, Marc Faber Says
Carol Massar and Alexis Xydias
BLOOMBERG, June 9 2008