Submitted by Taps Coogan on the 9th of February 2018 to The Sounding Line.
Legendary investor and author Jim Rogers gives his thoughts on the recent market sell-off (video below):
“You will see higher interest rates over the next few years. In fact, interest rates will go much much higher… We have certainly seen a top for the bond market. There is no question about that. Bonds will be going lower for many years to come. We will see probably a rally in stocks after the Federal Reserve raises interest rates in March. Depending on how that rally is, then I would suspect that later this year you should be out of stocks completely in most parts of the world.”
“Oil is in the process of making a complicated bottom. We will look back someday and say in 2015, 16, 17, 18 oil traced out a bottom. We haven’t seen the high yet or low. It’s a complicated pattern. You know how charts look, but eventually we are going to see higher prices of oil maybe in 2019, 2020.”
“It’s been nine years since we had a bear market and that’s historically been unusual… You usually have bear markets every four to seven or eight years. We don’t have to but we always have. So I would imagine a bear market will come sometime within the next year or two, will start sometime in the next year or two and it’s going to be the worst in our lifetime. 2008 was bad because of too much debt. Well the debt is much much higher everywhere in the world right now.”
“Today I would probably be buying agriculture, agricultural index, because agriculture is depressed. We have had a long period of good weather everywhere… I would buy dollars. With people looking for some place to put money, agriculture and dollars, when there is turmoil people look for a safe haven, they think the US dollar is a safe haven. It’s not. America is the largest debtor nation in the history of the world but people think it is a safe haven, so I would buy dollars or agriculture.”
There is more to the interview below:
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