Marc Faber is well-known for his persistently bearish take on U.S. stocks—as his nickname, Dr. Doom, implies. But now he argues that large-cap American equities could actually be a great spot to keep one's money.

"I'm an investor, and I invest. Do I want to buy European sovereign bonds at a negative yield where I'm sure to lose some money—not a lot of money, but some money? Or do I want to be in some blue chip stocks? If I take a 10-year view, I think I will make more money in blue chip stocks," Faber said Thursday on CNBC's "Futures Now."

Faber makes it clear that American stocks aren't necessarily the best pick right now. He calls the U.S. market "expensive," in contrast to "reasonably priced" European stocks. And emerging market equities are his preferred pick.

"I think that I will make more money in emerging markets than the U.S. in the next 10 years," he said.

But when it comes to safety, large-cap U.S. names are the place to be, Faber advised.

"I was recently at a dinner, and someone said, 'Where are you going to hide when disaster strikes?' I think in blue chip stocks, you will lose less money than in sovereign bonds," he said.

Faber, then, is merely taking his bearish thesis about global assets to its logical extension, by reasoning that in a serious meltdown, richly priced fixed income equities are liable to lose more value than big stocks.

In other words, this is not a turnaround for the investor after his years of issuing dire warnings about the market.

"Actually, I have to tell you, I'm even more bearish that I was at the time!" he said with a chuckle.

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