"Some depressed sectors are showing signs of major lows," Faber wrote to CNBC on Thursday. "I am still negative about stocks but I can see more money printing in the future, which will lift some sectors."
Specifically, Faber is bullish on mining stocks as well as on oil and gas names. His reasoning is that if the values of currencies become depressed, gold and other commodities could see additional demand from those hoping to use them as stores of value.
"The most attractive asset in my view is gold shares and oil and gas shares," Faber said Wednesday on CNBC's "Trading Nation." "I think they still have significant upside potential this year."
More generally, the frequently doom-predicting Faber now emphasizes balance in one's portfolio.
"You need to be diversified," he said Wednesday. "To own some real estate makes sense, to own some equities makes sense, to own some cash and bonds probably makes sense, and to own some precious metal makes sense."
However, he warns that "the market will not go up. Technically, the market isn't looking very good."
- Source, CNBC
