Marc Faber says S&P will fall 15%

Dr Marc Faber is well known for his forthright and contrarian views. He thinks that US stocks have another 15 per cent to fall before the cavalry comes to the rescue in the form of another bailout package.

This leaves the bear of bears not so bearish on the US stock market as some hedge fund managers these days. Eric Sprott, who is much admired by Dr Faber has just thrown his hat into the ring suggesting that a much bigger fall is coming for stocks very soon.

The huge volatility of recent days is surely not a positive sign. The idea that China will somehow save the euro or that devaluation is good for Europe as it slashes spending is clutching at straws in the wind.