Credit to Marc Faber: In the long-term he thinks the greenback will be worth as much as toilet paper, but hee’s been a dollar bull for several weeks, and presumably he’s made money on that trade.
And it’s not over, he tells Bloomberg, predicting that the dollar could yet extend its gains by 5-10%.
And surprisingly, this doesn’t mean that stocks are toast. Just as we’ve been seeing lately, Faber expects the market to rally in unison with the dollar.
Just the fact that this is possible — a dollar rally and a stock rally in the final quarter of the year — has to be considered the last big surprise of what’s been a bizarre year for the market.