Marc Faber on Japan Being an Opportunity of a Lifetime

Before the earthquake and tsunami in Japan, Marc Faber, the author of the Gloom Boom & Doom report, had called Japan a great investment idea.

He holds to that, and in a preview of an upcoming new daily trading and investing show called Breakout, from Yahoo! Finance, he now says the sell-off in global markets is a "lifetime buying opportunity" in Japan.

Faber also said going forward any investor not willing to forgo 20 percent to 30 percent moves in equity prices doesn't belong in the market, insinuating a time of volatility.

He also said while bullish long term on Japanese equities, they could drop up to 30 percent before bottoming out and becoming attractive as measured on valuation.