Marc Faber is well known for his overall stock market and economic bearish outlook, a view I mostly agree with. His trade of the century? Gold and gold miners. And while I believe gold will go higher over the next few years, my mathematical work does not show 10X or 5X or even 3X appreciation that most gold bugs expect.
With that in mind, gold is not the primary reason for this post. Watch the video below and pay particular attention to how the financial news anchor interviewing Marc is literally laughing at what Mr. Faber has to say. Her attitude is not her own. It simply represents a prevalent view that 95% of investors out there share. In other words, most markets participants are incredibly bullish as they continue to expect this overpriced market to go higher. What can possibly go wrong?
