Marc Faber's prediction comes true
In February, Marc Faber in an interview with CNBC-TV18 predicted that the Indian market (BSE) was on a bubble and that it would fall to 14000 – 12000 (the market was around 18000 then). What a fall it has been since. We have already touched 8000, though the markets have slowly inched upto 9500, we are still not out of the woods. With the US and other major economies into a recession, we are indeed looking at some tough months ahead.
I had made light of Marc Faber’s predictions then. Now i have ended up with my foot in the mouth 😉