Marc Faber says there is too much complacency in US stocks. According to Faber “Too many “enlightened people” think stocks will head higher till June, then drop a little, before making new highs.” Also he notes, years ending in “0″ and mid-term election years generally are negative for stocks. Some bubbles forming in Asia and Brazil property markets… To top it all off, offs of further gains after a nearly 70% up move in 2009 are not good. However odds of a 25-30% drop are better. Ergo, the risk/reward ratio is not good. Better to get drunk on cheap Thai whiskey, says Faber.

Marc Faber: “Obama Makes Bush Look Like a Genius”