Most markets, including India may correct by 30%: Faber

Marc Faber has a good track record on global investment trends and forecasted the commodity uptrend much before anyone else.

Investment Guru Marc Faber expects most markets including India to see a 30% correction, which is likely in both equities and commodities. He adds that the commodities complex is still attractive from the long-term view. Faber feels that industrial commodities may not make fresh highs in the near-term.

Faber believes that not much has changed but the markets became over-extended in the last ten days with some industrial commodities going up vertically. So the market was terribly overbought and now we have a setback but that is for the time being.