Silly old bow-tie wearing weirdo Jim Rogers once worked with George Soros, and has used the general success of the Quantum Fund to appear on television every single year since spouting nonsense, despite leaving the fund in 1980, twelve years before the famous Bank of England shakedown.
Jim’s on a bit of a roll, having predicted “The Worst Crash in History” for 7 years running.
Last year, Jim told us that all those impending disasters were the reason he’d moved to Asia, and made his kids learn Mandarin. And yes, popular theory is that he’s fucking nuts.
Jim, as you can tell, is not remotely afflicted by doubt, despite being wrong all of the time. When you’re wrong that often about something that the long term probability of is 100%, there’s no way to go other than doubling down every year.
And you guessed it, Jim is back to announce that “the next bear market will be the worst in our lifetime“.
If it does, that will make Jim right one year out of eight (12.5%).
Just so you have a bit of a marker – both you and Jim have been alive for the crash of ’87 (36%), the dotcom bust (38%) and the GFC (54%). So Jim is predicting that the S&P500 will soon be dropping to 1440 or worse. Of course, even if Jim is right, the S&P500 at the time of his very first “100% chance of crisis worse than GFC” prediction in 2011 was….1280.
So, lets have an agreement between you and me that we won’t be fucking listening to any predictions from Jim Rogers, huh?
I’m going to make a prediction of my own: if this year doesn’t result in the “worst bear market of our lifetime”, Jim will be back next year to announce that 2019 will kickstart the “worst market crash ever”, in order to get a spot on seven TV shows and be inexplicably breathlessly quoted in thirty financial news websites.