Thursday, April 30, 2015
Jim Rogers: Gold is in long term bull market
I've been quite vocal that gold would go down and stay down for a while during this bull market, maybe even under $1,000 dollars per ounce. But still the overall correction I got wrong.
My view, rightly or wrongly, is that this is a correction in a bull market.
You will remember in the bull market in stocks between 1980 and the end of the century, we had some very serious corrections. And every time people said the bull market was over, it wasn't. It ended in a bubble. My view is that's what's going to happen with commodities. We're in a correction, a serious one, but that it will turn around.
Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.