Marc Faber favorite stocks and when he is planning on buying them

Dr. Marc Faber wrote in his latest Gloom Boom & Doom Report : “I believe that,regardless of whether or not the S&P will exceed its Jan. 19, 2010, high at 1,150 within the next three months, a more meaningful correction will still occur in 2010 and provide a better buying opportunity. An exception to this may be Japanese banks such as Mitsubishi UFJ, Mizuho Financial Group, etc., which are, as I have pointed out before, extremely depressed.

“But if I were held at gunpoint and forced to buy equities (and many institutions need to do this), I would right now invest in energy and energy-related stocks such as Exxon Mobil, Chevron, Chesapeake Energy, Schlumberger and Halliburton. Should the global economy surprise temporarily on the upside, demand for energy would likely strengthen and lift oil prices.

“In addition, I maintain that for at least the next few months, the S&P 500 is likely to outperform emerging stock markets. U.S. large market capitalization stocks are not particularly expensive, and the U.S. dollar is likely to remain stable or even to appreciate further over the next [two] months.”