Marc Faber: Time To Sell Stocks

"The US stock market has now doubled from its low. In other words, there are only three occasions in the last hundred years when the stock market in the US doubled within two years.

One such occasion was in 1934, coming off a very deeply oversold condition in 1932 and the other one was in 1937. After 1937 and 1934, the 12 months return were both negative.

I would be a little bit careful here to just buy the US because investor sentiment is very positive. The volume has been relatively sluggish and the market is extremely overbought by any statistical model.

My view is that the US market will eventually join the emerging markets on the downside because if you take a bearish view about emerging economies, you cannot be too optimistic about the US because for many US corporations, 50 percent or more of their profits come from emerging economies."

Marc Faber, CNBC