Marc Faber — known as “Dr. Doom” — says US blue chips look like a good option relative to some other investments right now. But that doesn’t mean he’s changed his bearish stance.

“Do I want to buy European sovereign bonds at a negative yield where I’m sure to lose some money — not a lot of money, but some money?” he said in a recent CNBC interview. “Or do I want to be in some blue chip stocks? If I take a 10-year view, I think I will make more money in blue chip stocks.” That being said, Faber says the US market is “expensive”. European stocks, meanwhile, are “reasonably priced”. He thinks emerging market equities are a better bet than US or European stocks, but he likes the safety of blue chips given his belief that big-time trouble is coming. “I was recently at a dinner, and someone said, ‘Where are you going to hide when disaster strikes?’ I think in blue chip stocks, you will lose less money than in sovereign bonds,” he said.