Global Markets Face ‘Severe Correction,’ Faber Say…

Global Markets Face 'Severe Correction,' Faber Says - Bloomberg, January 8, 2007
...Faber also advises investors stay away from shares in Thailand, where he and his family are based. The nation's SET Index has been the world's worst-performing benchmark in the past month, sliding 15 percent as currency controls introduced by the central bank and bombs in Bangkok spooked investors.
"Valuations in Thailand are very inexpensive but I wouldn't buy tomorrow," said Faber. "We have some political problems in Thailand right now. I'd wait for a couple of months."
The SET is valued at 10 times estimated earnings, the lowest among 14 Asia-Pacific markets tracked by Bloomberg. MSCI's regional index is valued at 18 times...
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