Mob boss calls a stock bubble

Former mob boss Michael Franzese thinks investors should avoid the U.S. stock market, but should you take his investment advice?

"There's a bubble there that's going to burst at some point and when it does it's not going to be good," Franzese, a former mob boss for the Colombo crime family in New York who has become an author and motivational speaker, told CNBC.

He advises investing in gold and silver, but if you're thinking about the exchange-traded funds, fuggedaboutit. He likes physical bars.

Mob boss calls a stock bubble