The Gloom, Boom and Doom author Marc Faber has been overweight on banks but right now Indian equities do not appear compelling due to steep valuations.
The first full fledged Budget is most likely to announce a slew of reforms, but the key is in implementation since India has an history of bureaucratic red tapes that seal all efforts, says Marc Faber, who is editor and publisher of The Gloom, Boom and Doom report.
Faber has been overweight on banks but right now Indian equities do not appear compelling due to steep valuations, he told CNBC-TV18 in an interview. He reminds foreign investment flows has a big role to play in equity market’s performance, and right now global investment scenario appears shaky on the back of Chinese slowdown.
Talking about crude, which has seen bit of a pull back in the last few sessions, Faber said there are strong signs that bad days are over for the commodity and prices may rebound 15-20 percent from current levels.
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