The Gloom, Boom & Doom Report publisher Marc Faber shares his global economic forecast. "Emerging markets can still decline, and it's probably too late to buy in the U.S.," he says.
"In the U.S., it's probably too late to buy," the publisher of "The Gloom, Boom & Doom Report" told CNBC. "And by the end of March, we will be in the second-longest bull market for the last eight years," he added
"Usually these long bull markets, they end badly," he said, pointing
to the 1987 crash and the significant declines in 2000 and 2007.
"So I don't think it's a very opportune time to buy [U.S.] equities," Faber added.
While it might be too early to buy some of the beaten-down emerging
markets at these levels, investors can make money in the longer-term, he
"I think I can make the case that over the next five to
10 years, I will make more money by buying now in the emerging economies
then in the U.S.," Faber said.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.