Thursday, January 11, 2007

Outta da Markets

I've offloaded all my stocks. Officially out of Sensex and Nifty.
I think Indian markets are in a overbought zone and with the Budget and
elections coming up a big correction is due.

The day I sold my friend Roshan said Marc Faber predicts the same, Whether Me
and Marc is right only time will tell. I digged what Marc said and I agree with
Mr. Doom.

Another thing is I've learnt a very good investment funda from Chetan Gandhi
that "When in Doubt, Get Out"

This is what Marc said.

Marc Faber, publisher of the Gloom, Boom & Doom Report, predicts global assets
are poised for a "severe correction" and says it's time to sell.

"In the next few months, we could get a severe correction in all asset markets,"
Faber said in an interview with Bloomberg Television in New York.

"In a selling panic you should buy, but in the buying mania that we have now the
wisest course of action is to liquidate."

Faber, founder and managing director of Hong Kong-based Marc Faber Ltd,
correctly predicted the US stock market crash in 1987.

He also advised investors to buy gold in 2001, which has since more than
doubled. His company manages about $300 million in assets