Marc Faber: Part Bull, Part Bear

Renowned contrarian investor and publisher of the "Gloom, Boom & Doom Report" newsletter Marc Faber was on CNBC Tuesday, January 20 to discuss his outlook for U.S. stocks, the Market Vectors Junior Gold Miners ETF GDXJ and share what he called “the trade of the century.”

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The Situation

“I think, the S&P may make a new high sometime at the end of the month, but it would not be accompanied by the majority of stocks making new highs,” Faber said.

The Bulls And The Bears

He continued, “Everybody is bullish about the U.S. dollar. The bullish consensus about stocks is still very high. The bullish consensus about U.S. bonds is extremely high and the bearish consensus about the euro is extremely high and about commodities and oil.”

Trade Of The Century

“The only stock that I think has a great upside potential from here and in fact the GDXJ, the Junior Gold Mining Index is up 41 percent since the October lows and gold is up 14 percent since the October lows and this year 9 percent.”