Bloomberg spoke to legendary investor Marc Faber by telephone earlier today. Dr. Faber, who publishes the monthly investment newsletter The Gloom Boom & Doom Report, weighed in on the recent commodities slump. Bloomberg’s Chanyaporn Chanjaroen and Feiwen Rong wrote today:

Commodities, measured by the Standard & Poor’s GSCI index, have tumbled 22 percent from their record July 3, descending into a bear market…

“Prices have made a peak,” said investor Marc Faber, 62, who told investors to bail out of U.S. stocks before 1987’s so- called Black Monday crash. “Whether that is a final peak or an intermediate peak followed by higher prices, we don’t know yet. It could go lower,” he said by phone today from Chiang Mai, Thailand.

Source:

“Gold, Oil Slump, Leading Commodities Drop on Dollar, Growth”
Chanyaporn Chanjaroen, Feiwen Rong
Bloomberg, August 15, 2008

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