Thursday, February 16, 2017
Jim Rogers This is Going to be the Worst Bear Market in your Lifetime
Transcript : this is going to be worse than a bear market you've seen in your life that you know 2008 was pretty bad because of debt the debt all over the world is much much higher now stocks in the US for instance have been going sideways racing much 24 months that call distribution and missed by many people so when you have distribution for a year-and-a-half it used at least the bad thing do you think that it would matter if Britain negotiates a relationship with the EU similar to the deal like saying Norway has with the EU but it deals with a negotiated it looks good sounds good obviously will make things much much better it's the bear scenario the best scenario Alexis this that Scotland now leave and take the oil money City of London gets whacked by Europe they lose a lot of income UK already has huge international debt and it has balance of trade problem budget problem for the barricade is how disappears England becomes Spain or Poland or Italy or something do you really think that would happen and how long might it take for something like that to happen next to explain a long time to become space playing without your riches cuts in the world as you know it really do it Poland to if you won't happen anytime soon but they the deterioration will continue and make stocks go down a lot remember sidewalk is trans dissipating the future they see that happening you will now be too many other separatist movement in the EU some countries to leave other countries to split up entirely you know this is going to encourage a lot of separatist movement I'm not saying it's good or bad i'm just telling you what's going to happen but the bear cages that if all that happens we all should be very worried do you think that the next British government which will be formed in the fall will try to delay the bracelet is to keep the country united we know that my to the EU was asking for this to be Swift so there's no uncertainty do you think they're gonna try to drag it out what they're going to try try to drag it out that the government conservative wanted to stay in we're going to do everything they can to try to get people to change their life but in the meantime collect the Scott are probably going to say that we're leaving we don't want to do this anymore northern island may say the same thing and of course your my seiko we don't want you anymore we would like to control the financial community by in Europe we would like to move it to Paris or frankfurter Amsterdam or somewhere so the European we want to get rid of about their at what about the argument some make that say you know what the eaves better off without written they really didn't want to play all the way anyway remember they never were in on joining the euro as a 3:01 currency so what do you say to those 3:03 people who say they're better off 3:04 without written well that may well be 3:07 but i'm not sure how long with chase 3:09 because I said it's got to leave they go 3:11 with that in kop if the City of London 3:13 gets whacked there goes that income so 3:15 yeah it may happen if the power goes 256 3:19 then I didn't know revive a lot in the 3:21 UK and perhaps they would come back very 3:23 very strong but election as a lot of 3:26 pain between now and then so can look 3:29 into your crystal ball for me and what 3:31 do you expect Europe to look like in say 3:33 five years from now us if we know it now 3:37 but not exist at euro as we know it now 3:40 will not exist some people will leave 3:42 others may join unlikely but they could 3:45 join the know there's a lot of angry 3:48 people all over the world look at this 3:50 look at America what's happening in 3:52 America and many of those people just so 3:54 angry that I can't imagine some of the 3:57 letters that I've seen about leaving the 4:00 peculiar oh do you I mean if people 4:03 making an unbelievably incompetent 4:06 statement but they're very happy to be 4:08 getting out there so angry 4:10 yeah there's a lot of emotion attached 4:12 to this to this decision that we know 4:14 when it comes to investing emotion can 4:17 get in the way so let's talk about how 4:18 you play this market now what assets do 4:21 you think will do better in this 4:23 environment that you are describing and 4:25 which will do worse 4:27 q what I'm doing you have to make their 4:28 own decisions going into this i'm wrong 4:31 the US dollars 4:32 I can't you know what I'm sure u.s. 4:34 stock as you probably know I lonesome 4:36 chinese shares i own agriculture around 4:39 the world 4:40 these are things that might do well no 4:42 matter what happens going forward but 4:45 this is going to be perilous that I hope 4:48 I get it right 4:49 what about the currency markets which 4:51 currencies he expect to strengthen I 4:53 guess that the US dollar and which he 4:54 was special weekend in the weeks and 4:56 months ahead of the euro euro is going 4:59 to be on depression a lot of separate 5:01 movements a lot of people claiming you 5:03 get out 5:03 euro might even be we could in the power 5:06 story just rolling it's already got 5:08 outside but the US dollar as the US 5:11 dollar quell the japanese yen the swiss 5:13 franc property to better than most but 5:15 you know they're not many sound 5:18 currencies left anymore elected they've 5:20 all been ruined by politicians Jim 5:23 Rogers of Rogers holding we appreciate 5:25 your insights this morning will be 5:27 checked
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%.
Who is Jim Rogers ?
James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry 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%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator