Famed investor Jim Rogers, chairman of Rogers Holdings, told Kitco News that while he is not yet buying gold at current levels, a rebound in the yellow metal could cause it to overheat. “Before this is over, gold could turn into a very overpriced asset, it might even turn into a bubble,” he said. Rogers noted that while he holds physical gold, he would not buy more until prices drop below $1,000 an ounce. “I’m still waiting for $950 an ounce, or something like that,” he said.
On U.S. equities, Rogers said that current valuations are overstretched, although stock prices could still climb higher on good news. He added that the next bear market could be “the worst in my lifetime,” and that instead of U.S. stocks, he is looking at investing in Zimbabwe, an emerging market. “I’m buying Zimbabwe. Zimbabwe was ruined for 40 years by a crazy dictator. There’s a new guy, he may be worse, he may be better, but he’s certainly different, so you should think about Zimbabwe,” he said.
Jim Rogers: “Before This Is Over, Gold Might Turn Into A Bubble”
Joining me today is Jim Rogers chairman of Rogers Holdings. Jim good to see you again. Thank you for joining us. I’m delighted to be here. How are you. I’m doing great.
And since about last time we spoke you said that if gold doesn’t rally when bad things are happening then the correction isn’t over.
Now we’re up a little bit this Thursday. But what’s keeping gold from really taking off here.
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