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Friday, March 4, 2011

'87 Crash Seer: Buy Up Oil, Energy Stocks, and...

From CNBC's Fast Money blog earlier this evening: "Marc Faber, who predicted the U.S. stock market crash in 1987, recommended buying oil and energy names on Monday. Faber said that as the world's economies improve, demand for energy will increase. He noted that demand has already picked up in developing countries and continues to rise in emerging markets. 'I think in a, let's say Goldilocks outlook, you have to own some oil,' Faber said. 'If you're very bearish about the world, it's a nightmare scenario in the Middle East and I don't think that Saudi Arabia can affect production shortfalls...
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