Rogers and Faber on US Stock Slump

Posted by JIm Rogers and Marc Faber via Bloomberg

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Rogers, Faber Advise Paring Investments as U.S. Stocks Slump


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.

U.S. shares tumbled as waves of computerized trading exacerbated a selloff triggered by Europe’s debt crisis. While the rout briefly erased more than $1 trillion in U.S. market value…..

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