Here is something I found quite interesting. If you read the following article you would get the idea that Marc Faber is down on the economy.
Futures on the Standard & Poor’s 500 Index lost 1.1 percent. The benchmark index slumped 2.4 percent yesterday as investors George Soros and Marc Faber predicted that the recent rebound in equities will falter.
But what was interesting is that this is a sound bite to bolster a negative article. Because he said something quite different. At the Swiss German website he said the following:
Marc Faber: Es geht bald aufwärts an den Börsen
Marc Faber did say that the market will probably have a 5 to 10 percent correction, but he was rather bullish on the overall economy! The irony of this is that it is the Bloomberg channel that has this clip! To have Marc Faber bullish means quite a bit since he is usually doom and gloom.
And to not stop there, but Meredith Witney is slightly bullish. She gave the following call that seems to have been completely ignored.
Bank earnings may show some improvement in the first quarter, though the sector still has far to go in recovering from the credit crisis, well-known analyst Meredith Whitney told CNBC.
"I think you’ll see a directional turn," Whitney said in a live interview. "Banks will make a little money, as little as a penny a share, but they won’t lose money."
I was surprised and that begs the question, why are these two voices the lone voices? I have my thoughts…