- Prison Planet.com - http://www.prisonplanet.com -
Biggs, Faber Predict Dollar Rally as S&P 500 Surges
Posted By admin On December 29, 2009 @ 11:08 am In Money Watch | Comments Disabled
Bloomberg News 
Tuesday, December 29, 2009
Dec. 29 (Bloomberg) — Barton Biggs and Marc Faber, who recommended buying stocks in March when investors were dumping them, are again united as they predict gains for U.S. equities and the dollar.
Shares in the largest equity market and the U.S. currency may add 10 percent as economies improve around the world, Biggs of New York-based hedge-fund firm Traxis Partners LP said in a Bloomberg Television interview yesterday. Faber, publisher of the “Gloom Boom & Doom” newsletter, told Bloomberg TV that the dollar may rise 5 percent to 10 percent against the euro while stocks gain, reversing the inverse relationship that existed between March and November.
(ARTICLE CONTINUES BELOW)
Biggs and Faber’s advice nine months ago proved profitable as the Standard & Poor’s 500 Index surged 67 percent in the biggest rally since the 1930s. They saw a buying opportunity as investors speculating the financial crisis would cause a depression drove stock valuations to the cheapest level since 1986. Now, Biggs, 77, and Faber, 63, see gains as the economic recovery accelerates and investors shift money from Treasuries.
“History would suggest that after such a severe economic shock like we’ve just had that the odds are that we’re going to have a pretty good burst of growth in 2010, 2011,” Biggs said. “I don’t see any reason why we can’t have a further rally in the dollar and a further rally in stocks. And my guess is that the next move in both could be on the order of 10 percent.”
Full story here. 
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/biggs-faber-predict-dollar-rally-as-sp-500-surges.html
URLs in this post:
 Bloomberg News: http://www.bloomberg.com/apps/news?pid=20601087&sid=aeByrayLjqdA&pos=6
 Image: http://www.prisonplanet.com/2009_christmas_special.htm
 Faber Says Buy Gold Explorers Backed by World’s Biggest Miners: http://www.prisonplanet.com/faber-says-buy-gold-explorers-backed-by-world%e2%80%99s-biggest-miners.html
 Marc Faber Says World Heading for `Major Inflection Point’: http://www.prisonplanet.com/marc-faber-says-world-heading-for-major-inflection-point.html
 European Stocks Could Correct Up to 20%: Marc Faber: http://www.prisonplanet.com/european-stocks-could-correct-up-to-20-marc-faber.html
 Barton Biggs: 1 in 10 Chance of Anarchy in the U.S.: http://www.prisonplanet.com/barton-biggs-1-in-10-chance-of-anarchy-in-the-u-s.html
 Marc Faber Sees No Bubble in Gold Price Run Up: http://www.prisonplanet.com/marc-faber-sees-no-bubble-in-gold-price-run-up.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.