Emerging Asia's shares may have plunged recently, but with the bull market getting long in the tooth, it's not the time to buy, said Marc Faber, the publisher of the Gloom, Boom & Doom report.
"I don't think there's a lot of money to be made in equities for the next 12 to 24 months," Faber, also known as Dr. Doom, told CNBC.
"We are in a bull market that is more than four years old," with the rally beginning in March 2009, he noted. "Four years into the economic expansion, I don't think that stocks are the greatest bargain anymore."
(Read more: Marc Faber: Three reasons a plunge is coming)
While he owns shares in Malaysia, Thailand, Hong Kong and Singapore, he isn't interested in increasing his positions. "We have in most economies that publish honest statistics a meaningful slowdown," he said.