Friday, May 07, 2010

Jim Rogers + Marc Faber talk plunge on Bloomberg

Famed contrarian investors and thinkers, Jim Rogers and Marc Faber appeared on Bloomberg TV to discuss the May 6 market drop.

Here's a little excerpt from Bloomberg's print coverage:

"Investors should consider paring their holdings after a plunge in U.S. stocks yesterday, according to Jim Rogers and Marc Faber.

Equities had a “normal correction” and were “overdue for a sell-off” after rallying from last year’s low, Rogers, Singapore-based chairman of Rogers Holdings, told Bloomberg Television today. “The market was overbought, ahead of itself and due for a correction,” Faber, publisher of the Gloom, Boom & Doom report, said in a separate interview yesterday.

You'll find the Bloomberg TV interviews with Faber and Rogers linked within the story (scroll down to the bottom of the article or see the "video" tab at the top). Always interesting to hear from our favorite straight shooters at times like these.