Marc Faber is calling for a 20% decline in stocks by year's end. Of course this is really more a reminder that he hasn't given up on his perpetually gloomy outlook amidst a historic rally than it is an actual prediction about the direction of the market. Faber is bullish on some equities however.
"I think there's one group of stocks that should appeal to people who say 'I want to buy low and sell high,' and this is the gold mining sector," Faber says.
The miners have performed horribly this year, but if you believe in Warren Buffett's "buy when others are fearful" theory, now might be a good time to look at the group.