If the man often hailed as the original “Dr. Doom” is right, the stock market could see another “lurch” higher — at which point investors may want to cash out quickly and run for cover. Marc Faber, the editor of “The Gloom, Boom & Doom Report’ and a perennial bear, isn’t backing down from his latest dire prediction that would send stocks plummeting by 40 percent or more. A drop of that size could take the S&P 500 Index down from Friday’s closing price of 2,438 to 1,463. He
used the meteoric rise of FANG stocks, which reflects Facebook, Apple, Netflix and Google (Alphabet), as a glaring bearish signal. “We’ve had more than eight years of a bull market. The Nasdaq is being driven by very few stocks,” said Faber on Friday’s “Trading Nation.” That rally “is not a particularly healthy sign from a technical point of view, and valuations are very high,” the investor added. READ MORE
