Citi Shares Could Double or Disappear: Faber
Citigroup could see its shares rally by 100 percent or sink to nothing, investor Marc Faber told CNBC Friday.
"We've gone down from over $55 to $4 (a share), you could easily see a bounce of 100 percent before the stock goes to zero," Faber said.
"The rebound potential is very considerable," he added.
Citi shares closed at $4.71 on Thursday, having slumped over 26 percent during the session. The bank also lost 23 percent in Wednesday's session.
Financial stocks lack transparency, making it difficult to predict the share price of a company like Citi, Faber said.
"I don't think financial stocks will be the leaders of the next bull market … the earnings power of financials companies will not come back for many many years," he said.
(Watch the full interview with Marc Faber above).
Faber likes gold as an investment because "it's a cash that is not the liability of someone else."
But the precious metal has performed relatively well during the bear market, which means it could be sold when stocks rebound, Faber warned.
Corporate bonds are also an "interesting opportunity, yielding high returns," Faber said.
"And I suppose that not every company around the word will go bankrupt," he added.