Even though the markets started today positive, many financial experts, including Marc Faber and Peter Schiff, are extremely bearish now that the president has been re-elected.
Here's what they have to say on the economy and the fiscal cliff, as well as some stocks that investors should avoid.
- Marc Faber warns of 20% market plunge- The Swiss investment analyst and entrepreneur spoke with Fox Business Network on what to expect from the markets during a second Obama term and about the impending fiscal cliff. "I think from the peak the market will drop at least 20%. I think we will revisit the lows of June at 1,266 on the S&P." On the markets' reaction to the election he added, "I'm not surprised the market is selling off because technically the market was weak already for a couple of months and we are in a downtrend and Mr. Obama's economic policies are obviously not very good for an economic expansion."