Marc Faber contradicts Jim Rogers in Chinese equities debate

Investment legend Marc Faber and legendary Jim Rogers crossed swords with each other in a head-to-head CNBC interview over the long term value case of the Chinese equity market. They both have established their names among the greatest investors of our times, but their seem to support a different points of view on how to perceive Chinese equities' poor share price over the past couple of years.

Marc Faber explained that it is difficult to be bullish on Chinese equities because since 2007 the Shanghai stock exchange has fallen from 6,100 to 2,074 today, a fall Faber cited as the main reason for his continued bearishness.

Faber is refraining from adding exposure to equities across the board, believing markets are overdue a sharp correction.

"I just want to have a lot of cash, because I think that within the next six to nine months we can buy just about anything 20% lower than it is now," he said.

Jim Rogers sees the share price fall as a value opportunity. He has recently upped his stake in the region for the third time in his career.

"China is going to be the next great country in the world," he told CNBC. "I was violently and vehemently telling people not to buy China when it was going up in 2007. I only buy China when it collapses."