My favorite bear, Marc Faber, brings out a number of important issues in the video below. I agree with all of them as they tend to match my fundamental analysis. Here is a quick summary of what he says.
- Too much risk in the financial system. Excessive speculation.
- Valuation are crazy.
- Market internals are deteriorating.
- Many stocks are already down 10-20%. Some momentum high flyers are already down 30-50%.
- General asset deflation is coming.
