"I think we will go up until it's over," Faber said. In 2013 "I wrongly predicted a 20 percent correction—it hasn't happened. But I think when it's over, it will be more than 20 percent."
Given that nuanced view, "I'm not yet short, but I would look at essentially any rally here in the U.S. market as an opportunity to lighten up on positions," Faber said. "And I don't think people should buy stocks".