According to iconic investor Jim Rogers, 74, within two years the biggest market crash since the Great Depression of 1929 is going to thunder across the world.
As an example of how savvy Rogers has been, in 1973, George Soros and Rogers founded the Quantum Fund; between 1970 and 1980, the portfolio gained 4200% while the S&P advanced roughly 47%.
Speaking with Business Insider’s CEO Henry Blodget on "The Bottom Line," Rogers issued his apocalyptic prediction. The exchange follows:
Blodget: One of the things I’ve always admired about you as an investor is that you don’t talk about what should be. You figure out what is going to be and then you do that. So what is going to be with respect to the stock market? What’s going to happen?
Rogers: I learned very early in my investing careers: I better not invest in what I want. I better invest in what’s happening in the world. Otherwise I’ll be broke. Dead broke. Well, what’s going to happen is it’s going to continue. Some stocks in America are turning into a bubble. The bubble’s gonna come. Then it’s gonna collapse and you should be very worried. But Henry, this is good for you. Because someone has to report it. So you have job security. You’re a lucky soul.
Blodget: Well, yeah, TV ratings do seem to go up during crashes but then they completely disappear when everyone is obliterated, so no one is hoping for that. So when is this going to happen?
Rogers: Later this year or next.
Blodget: Later this year or next?
Rogers: Yeah, yeah, yeah. Write it down.