Jim Rogers: Markets usually go too far on the upside and too far on the downside

 Lou Basenese:  Thanks for taking the time to speak with us. First question I have concerns gold. You’re on the record right now with Business Insider saying it would be normal for the price of gold to come down to $1,200 or $1,300 an ounce. Is there any reason, fundamentally, that you think it could go lower than that?

Jim Rogers:  The fundamental reason could be the market. Markets usually go too far on the upside and too far on the downside. If you start having people getting margin calls or getting scared and getting hurt, then yes, it could continue to go down. But I don’t know if you would call that fundamentals or market. But there is a lot of gold out there that people have bought in the past decade, and some of that could come to the market as people get scared. - in wallstreetdaily




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%.