Indian stocks are expensive; rupee can hit 100/$: Marc Faber

Emerging markets are relatively inexpensive compared to the developed markets. If one was to compare the valuation of emerging market stocks to the US, they do not appear cheap.

Oil prices, trade war fears and a plunging rupee has somewhat derailed the equity market rally in India over the past few weeks. MARC FABER, Editor and Publisher of ‘The Gloom, Boom & Doom Report’ tells Puneet Wadhwa that global stock and bond markets are in a bubble zone. Markets and central banks, he says, have not learnt any lessons from the 2008 financial crisis. Edited excerpts:

The Indian rupee has been the worst performing currency in Asia at a time when the S&P BSE Sensex and Nifty50 were at an all-time high. How do you interpret this?

I think