“In bull markets, there are always periods of consolidation and
setbacks and this market is no different,” the commodities guru said in
an exclusive interview with The Bullion Desk on Thursday .
“In 1987 stocks were down 40-80 percent worldwide and it took a long
time for it to get above pre-correction levels but the bull market was
not over,” he said.
“We are seeing the same normal correction happening in commodities now.”
“But we have not seen enough supply come on stream yet in any
commodities sector, except maybe iron ore or something like that, to
bring supply and demand back in balance,” he added.
“I may be wrong – I have been wrong many times in my life – but I
suspect that we will see many more months of rising commodity prices,”
he said. Commodity markets normally end in a bubble and this one may be
no different,” he said. “I don’t think the cycle will last 10 years but
Governments are still printing money and this has gone on for much
longer than anyone expected, which could help fuel the commodities
boom,” he said.
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%.