1. Jim Rogers says the ‘biggest crisis in his life’ is less than a year away

Jim Rogers says the ‘biggest crisis in his life’ is less than a year away

Jim Rogers says,"it would be bizarre if we didn’t have a problem."

By: | Updated: August 11, 2017 9:55 AM
Jim Rogers believes that we are in for a colossal crisis pretty soon. (Image: Reuters)

Jim Rogers, the renowned co-founder of Quantum Fund believes that there’s an impending crisis, and it’s much sooner than you think. “We could see the worst crash in my entire life pretty soon,” said Jim Rogers in a recent conversation with Kitco news. Jim Rogers founded the Quantum Fund alongside George Soros, who is regarded as one of the most successful investors of all time. From 1970 to 1980, their portfolio returned 4200% while the S&P had posted paltry returns of about 47%.

Jim Rogers said, “We’ve had economic problems in the US, in North America, every four years since the beginning of the republic, to say that we’re going to have a problem is not unusual.” Going a step further, the veteran said that it would be ‘bizarre’ if we didn’t have a problem. Rogers observed that the 2008 financial crisis was caused due to a rise in debt, and since then the debt has gone through the roof. In fact, Alberto Gallo of Algebris Investments, in a recent blog, noted that global debt levels have almost quadrupled, rising 276% in the last decade to $217 trillion. Talking about the timeline, Jim Rogers predicts that the impending crisis could be as early as next year.  

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Jim Rogers, sometimes referred to as ‘Commodities Guru’, believes that gold prices are likely to skyrocket, in view of the impending meltdown. He observed that people have always turned to gold in the face of crisis and this time around it’s not going to be any different. In the same conversation he said, “Gold is going to be explosive in the next few years.” His belief in gold as a safe haven investment is shared by another renowned investor Marc Faber, who’s buying gold, to protect himself from the overheated equity markets in the United States.

Also readUS stocks are overheated; so Marc Faber is buying Asian shares, and gold

Earlier last week, Marc Faber pointed out to huge disparity between the returns in gold and gold ETF index. In a recent interview with CNBC last month, Marc Faber said that while the S&P index is up 23% since January 2016, gold has returned 20% in the same period. In the same interview he pointed out that the GDX, the Gold ETF index, is up by 80% since January 2016, indicating that the markets are very distorted and investors are in a very artificial environment. The author of Gloom, Boom & Doom report had said that he has allocated only a quarter of his portfolio to equities, and that too, mainly in Asia. The remaining three-fourths of Marc Faber’s money is mainly divided between real estate, precious metal and gold shares.

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  1. James Benjamin
    Aug 12, 2017 at 7:16 am
    Could be a lot sooner than many think s: pbs.twimg /media/DG5ax0sWsAAwb6B.jpg
    1. James Benjamin
      Aug 12, 2017 at 7:17 am
      : pbs.twimg /media/DG5ax0sWsAAwb6B.jpg
    2. J
      jena potts
      Aug 11, 2017 at 9:11 pm
      When I see George Soros name linked to anything -- I think anti American communist sleezebag.. ( ( did I hold anything back?)
      1. J
        Aug 11, 2017 at 8:46 pm
        Wish we knew what "gold shares" he recommends...
        1. A
          Aug 11, 2017 at 8:34 pm
          We know that Soros' fund is betting against the US stock market. s: cnbc /2017/05/18/george-soros-has-added-to-his-losing-bets-against-the-stock-market Thus far it's been a losing bet. They need a crash, otherwise they stand to lose a lot of money.
          1. Chris Dees
            Aug 11, 2017 at 8:12 pm
            What has been BIZARRE is that we haven't seen this illusive, bigger crisis YET!
            1. Paul E
              Aug 11, 2017 at 8:11 pm
              Jim Rogers has been saying tis for a long time. Eventually he will be right.
              1. Mike Alan
                Aug 11, 2017 at 8:05 pm
                The market rise is not due to any trump policy but if the market crashes it's Trumps fault.
                1. Lithuania Mania
                  Aug 11, 2017 at 7:32 pm
                  So...the smart $$ is on AU?
                  1. Wade Hewitt
                    Aug 11, 2017 at 7:31 pm
                    I wonder if this dude owns a bunch of gold
                    1. Clayton Shaw
                      Aug 11, 2017 at 7:30 pm
                      Look China owns a bunch of gold: they went crazy buying it about 10-15 years ago when everyone was selling their excessive jewelry. Gold, Invest in the US not China. Markets go up and will drop like a rock, but unless you live off of Dividends: Don't worry. Companies that are market centric will fire people on a moment notice: WHY because these VP's and CFO's only want to keep their high paying jobs. My best friend was a CFO for HP and he was a great caring guy until he got that job: Fired hundreds and then thousands on a drop of an email. Instead of finding ways to cut waste, just cut the factory folks and techs. So SAD.
                      1. John Seymore
                        Aug 11, 2017 at 7:27 pm
                        this guy has always been a clown...he must be shorting
                        1. G
                          Aug 11, 2017 at 7:05 pm
                          We've been hearing this for years, since right after the worst of the last crisis. I'll admit, I'm one who listened thereby losing out on the 200 rise in the stock market. And he mentioned this in an interview with Kitco news. Hmmm Kitco the seller of precious metals? Now why would they be publishing a story advising to buy gold and silver? I wonder. . .
                          1. S
                            Aug 11, 2017 at 6:49 pm
                            Nah, George Soros will be in jail or by then. We refuse to put up with yet another intentional crash by the weaponized Federal Reserve system.
                            1. Todd Simpson
                              Aug 11, 2017 at 6:48 pm
                              One thing he doesnt seem to be taking account of is all the cash business seems to be sitting on on shore and off. If the cash is offshore especially, it makes more sense to leave it there and borrow under the insanely low interest rates. Interest payments are a whole lot cheaper than tax payments.
                              1. Randy Overton
                                Aug 11, 2017 at 6:40 pm
                                These Wall Street guys always try to put the fear in the market so that they can make you panic and sell, then you buy again. Who wins, they do. They make money both ways. One reason they have promoted this fear for months, they need the money! New approach with your money manager, if your account is down for the quarter, he/she does not get paid. If it is up they get their agreed to . It is time for a real change in the way Wall Street hits your investments or retirement funds.
                                1. Bob DesRochers
                                  Aug 11, 2017 at 6:11 pm
                                  Like Peter Schiff and Gail Dudac, sooner or later all 'Perma-Bears' are right. The problem is, 'How much missed opportunity can you endure before and after a pull back?' The people who jumped out of the market in 2008 and stayed in cash have lost a fortune. Oh, yeah, Rodgers was talking doom and gloom pretty much the whole time during that period.
                                  1. Mark Todd
                                    Aug 11, 2017 at 5:01 pm
                                    yeah, i know, and the sky is falling, the sky is falling.
                                    1. T
                                      Aug 11, 2017 at 7:13 pm
                                      Everything is OK until its NOT. Remember 2006/2007.
                                    2. T
                                      Aug 11, 2017 at 4:45 pm
                                      When was the last time that J Rogers was correct ?
                                      1. Chris Dees
                                        Aug 11, 2017 at 8:20 pm
                                        If the capital "markets" were real and organic, he'd have been right years ago. Post-2008 EVERYTHING is being propped up by the Fed and the other central banks. ALL econ-related numbers, ratings, statistics VERY carefully massaged to present the picture they want. Sunshine and lollipops. That coupled with very sp parti tion in the markets on the part of the average joe, has been demonstrated the ability to float this mess along blissfully unaware that we left the edge of the cliff long ago. It's no a question of "if" but "when" and it will likely be a serious retrace. Look for forced military conflict and Donald Trump to take the blame for everything, 25 years of terrible policy from both the left and the right.
                                      2. Brian Mcfarland
                                        Aug 11, 2017 at 4:12 pm
                                        Sounds to like he's trying to pop the tech bubble by driving up gold prices. The largest gold buyers are samsung Intel and amd for processors higher gold less profits
                                        1. Jason Richer
                                          Aug 11, 2017 at 3:32 pm
                                          1. Elmer Williams
                                            Aug 11, 2017 at 6:26 pm
                                            Silver is going to $200/ounce! Or maybe not.
                                            1. Elmer Williams
                                              Aug 11, 2017 at 6:59 pm
                                              Silver is going to $200/ounce! Or maybe not.
                                            2. ed kubiak
                                              Aug 11, 2017 at 12:23 pm
                                              "Jim Rogers founded the Quantum Fund alongside George Soros" There's an agenda here when George Soros is somewhere in the background. I don't trust this analysis as not being politically motivated.
                                              1. Kerry Rogers
                                                Aug 11, 2017 at 1:20 pm
                                                Hmmm. Can't fault that logic.
                                                1. C
                                                  Charles Coffee
                                                  Aug 11, 2017 at 5:34 pm
                                                  Amen to that Ed.
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