Jim Rogers : “Whenever things go down, people look for reasons,” says the famed investor and Streets Smart author. “But the main reason is…gold was up 12 years in a row without a down year--that’s extremely unusual.” Rogers says gold is having a “long-overdue correction,” which he warned about long before the precious metal’s plunge last month. He says he would start to be concerned that this was more than just a correction if gold drops to $800 or $600 an ounce. But, as he's said before, he would buy more gold at $1300 and $1200 an ounce.
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.