Dr. Doom: Short Treasurys, Buy Hard Assets
The editor and publisher of the "Gloom, Boom, and Doom Report" says the best place for investments these days is in hard assets, but he has some suggestions for stock-market investors, too.
"You want to be in gold, silver, platinum, and also oil," Marc Faber told CNBC. "If you believe in a recovery of asset prices as a result of money printing, you should be in hard assets, particularly precious metals."
He said he sees the money that has been locked up in Treasurys starting to rush out during the coming year. (See his full comments in the video)
"I think the big trade in 2009 will be to go short Treasurys massively -- I really mean massively -- because we may not have inflation for one, two, three years," he said.
Faber continues to recommend a diversified portfolio. So what stocks would be included?
"If you want to own shares, I would own some resource companies, companies like Freeport McMoran, BHP (Billiton) ," he said. "I would also own some Asian shares."
Disclosure information for Marc Faber was not immediately available.