New Delhi, Aug 5 (KNN)  Global investment group Marc Faber has described the stock market as 'stupid,' supporting the Reserve Bank of India (RBI) in its tight monetary policy.

Faber said in an interview with Bloomberg TV that if he was the RBI governor, he would have tightened monetary conditions to ensure currency stability and check on inflation.

Faber who published Gloom, Bloom & Doom said, “What matters is their (overwhelming majority of the Indian population) real economic well-being, not whether the stock
market is up or down.  That is something that I find difficult to understand.  Each time I am interviewed…it seems the most important thing for the whole world is the stupid stock market of which maybe only one or two per cent of the population benefits.”

The Indian stock market along with several emerging markets has left many small and retail investors let down.  (KNN/PC)