Predicting a 30 percent decline in the S&P 500, Marc Faber, a Swiss investor well known as a leading contrarian and market bear, said that it's not a good time to buy stocks. Observing that many stock valuations are in "coocoo land," Faber clearly believes that last year's boom is going to create this year's bust.
Of course, it's always worth taking any prediction of a crash from a man whose newsletter called the Doom Boom & Gloom Report with a grain of salt. That said, there's plenty of others predicting a bear market in 2014 after such a huge bull run in 2013. But, then again, most of them certainly aren't predicting a decline nearly that disastrous.
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