One of the prominent investors, Jim Rogers, put up a warning that was enough to create serious concerns about the market. Rogers said that he anticipates a worst bear market in his lifetime is incoming. The Famous investor shared his thoughts during an interview last week.
While giving the example of the ongoing bearish trend in the market, Rogers said that more bear markets are on their way. He said that the next one would be the worst that he had witnessed in his lifetime. Citing the financial crisis of 2008, he explained that it occurred due to the problem of too much debt. The debt since then has seen massive growth, he added.
Rogers was business partner with George Soros earlier and also co-founder Quantum Fund and Soros Fund Management. He stated in the interview that the debt has gone over the roof if you look outside. This indicates that the upcoming bear market is going to be terrible.
Further Jim Rogers argued why this one has to be counted as a horrible bear market given the US has seen significant growth in their debt that increased many times in composition to what it was in 2009. He showed his concern that the US is unable to count the debt in Japan. The debt in a lot of countries across the world is going higher and higher. Crisis of 2008 happened due to excessive debt and it became much worse, he added.
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Jim Rogers explained that there are a number of stocks that went down by 70%, 80% and even 90%. He is assured about the financial crisis that is going to happen, but does not know yet when it could take place. Renowned investor added that after thirteen years of previous crisis, the country had faced big problems and yet it’s been the longest.
Further he noted that the valuations are quite high, debts are in massive amounts, and many new investors are arriving. He said that it’s not his time and he knows how this works. Rogers said that they all could lose their money and he hopes of himself not to be one of them.
Source: https://www.thecoinrepublic.com/2022/07/31/the-worst-bear-market-is-incoming-said-jim-rogers/