Marc Faber is well-known for his bearish take on stocks as well as his theory that the actions of the Federal Reserve will end up crushing the value of the U.S. dollar. And that is precisely why his latest recommendation is so surprising.
- Marc Faber IN CNBC:
When asked whether investors should keep their money in cash on Tuesday's episode of "Futures Now," Faber responded: "Cash, yes. I think the most hated asset at the present time is cash."
This despite the fact that his monetary view hasn't changed.
"I agree that with the Fed's policy, cash loses purchasing power," Faber said.
The problem is that Faber thinks the market could crash, but only after rising further.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.