Guru watch: vote Trump, says Marc Faber

US presidential hopeful Donald Trump's heated rhetoric against immigration and free trade hasn't endeared him to Wall Street or business. However, he has at least one supporter in the financial community. Marc Faber, publisher of the Gloom, Boom & Doom newsletter, can't vote (he's not an American citizen). But if he could, he says, he would vote for Trump.

That said, it's not exactly a ringing endorsement Faber believes that Trump's main rival, Democrat Hillary Clinton, "will destroy the whole world", citing her enthusiasm for military intervention. By contrast, Trump "may only destroy the US economy".

Faber is extremely negative on the US stockmarket, arguing that valuations are still stretched. But he is relatively bullish on emerging markets especially those, such as Russia and Brazil, which fell substantially last year. While both countries are currently in recessions, he believes they are much more attractively priced than America (although both have rallied substantially since the start of this year), and therefore a better destination for your money.

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Faber also likes Singapore, which currently yields around 4%. Faber is also bullish on US Treasuries, arguing that if there is a downturn in the US economy, interest rates there could turn negative. He notes that in 2009 current Federal Reserve boss, Janet Yellen, cited negative rates as a possible policy tool in her speeches.