The U.S. stock market could "easily" drop 20 percent to 40 percent

Marc Faber

Said : Marc Faber, a Swiss investor based in Thailand, reported CNBC recently. 

Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager. His latest prediction : "The U.S. stock market could "easily" drop 20 percent to 40 percent."

In his latest blog posting, Faber advices that the safest place to be is precious metals and some cash.

"Faber has been predicting the meltdown of U.S. stocks for years, only to see the market climb higher." 

Faber is pessimistic about Asian economies and expects "no growth" from there as some countries are already in recession. According to Faber, the expansion in Europe is "anemic" and the situation in Greece is "basically Ponzi finance" that can't last. 

In his latest newsletter, Faber declares "Indochina — including Vietnam, Cambodia, Thailand and Laos — is the most promising region for investment over the next 30 years."