Marc Faber famously predicts that U.S. stocks will lose 30 percent of their value—a prognostication, needless to say, that has not proven particularly prescient over the years. Still, the author of the Gloom, Boom & Doom report continues to see bubbles everywhere he looks, especially in U.S. equities.
Given his near-apocalyptic outlook, it's unsurprising that Faber's greatest focus is on avoiding losses. But what's incredible is the degree of portfolio destruction he's willing to tolerate.
"I hope that when the collapse happens, I'm only going to lose 50 percent of my money," Faber said Thursday on CNBC's "Futures Now."
As to the specific makeup of his portfolio, it's all about diversification.
"I want to own some gold, I want to own some shares," he said. "And I own some bonds and cash and real estate."