Jim Rogers : Well remember, gold went up 12 years in a row,
which is extremely unusual. I know of no asset in history which has gone
up 12 years in a row, so the anomaly was the performance of gold for
those 12 years. Now
, the anomaly is going to be in the
consolidation, in the correction. I don’t know, but I’m not buying gold
at this point, because I suspect there’s going to be another chance to
buy gold later in the next year or two. So I’m not buying gold yet, only
because I know that the bull market for 12 years was an anomaly, so the
correction should be an anomaly too. As you may know, the
Indian
politicians are now
trying to do their best to destroy the gold market.
They’ve put on huge controls and taxes on the Indian gold market.
India’s the largest buyer of gold in the world, and it’s already having
an effect. So the Indians are now trying to figure out a way to make the
Indians sell their gold. Now if India goes from being the largest buyer
of gold, to a seller of gold—who knows how low the price of gold will
go. I know it will go a lot lower. So I’m not buying gold yet.
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%.
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