Dump US equities; select Indian stocks attractive: Faber

Investment guru Marc Faber prefers staying away from US equities for now and believes  global markets may climb higher before an eventual sell-off.

Sharing his views on global trends with CNBC-TV18, he said: “I wouldn’t take the risk necessarily to be in resting now in US equities. Approximately 40 percent of global imports are in emerging markets (EMs). If they do badly then obviously it will hit the corporate profits of multi nationals globally.”

In a recent "Squawk Box" interview to CNBC, the publisher of "The Gloom, Boom & Doom Report" had cautioned investors that the long-running bull market in US stocks runs the risk of ending badly. "Usually these long bull markets, they end badly," he said, pointing to the 1987 crash and the significant declines in 2000 and 2007.

Speaking about EMs, he had then said that 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. "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 than in the US."