A renowned investor warns that the worst bear market of his life is coming

Veteran investor Jim Rogers, who co-founded the Quantum Fund with investor George Soros, has warned that more bear markets are coming. Noting that many stocks will fall 90 %, he emphasized that investors will lose a lot of money.

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The worst bear market

In an interview with Kitco News published last week, celebrity investor Jim Rogers warned of an upcoming bear market that will be the "worst" of his life. Rogers is a former business partner of George Soros, who co-founded Quantum Fund and Soros Fund Management.

Another bear market is coming… The next one will be the worst of my life.

Explaining that in 2008 "we had a problem with too much debt," he pointed out that the debt has skyrocketed since then.

"Debt has skyrocketed everywhere, so the next bear market must be terrible," he declared. "I mean, the US has increased its debt several times since 2009. Look at Japan, they can't even count the debt in Japan. In many countries of the world, the debt is getting higher and higher and higher... The crisis in 2008 happened because of too much debt, now it's much worse."

Rogers elaborated:

Many stocks will go down 70 %, 80 %, 90 %. Of course it will happen. I just don't know when.

He went on to describe: “We have a very high valuation, we have high debt, a lot of new investors are coming in. It's not my first rodeo. Everyone loses a lot of money. I hope I'm not one of them.”

The US dollar is losing its dominance

Rogers also reiterated his view that the US dollar will lose its dominance, stating that "the Russo-Ukrainian war accelerated that."

The world's international medium of exchange is supposed to be neutral - anyone can do whatever they want with it. But Washington is unfortunately changing those rules. Washington says if they don't like you, you can't use the US dollar, and people say, Wait a minute, the international medium of exchange is supposed to be neutral. That's not the way it's supposed to work.'

"A lot of people had their property confiscated because they didn't like it," Rogers pointed out, elaborating:

Many countries, even our allies, are now looking for something to compete with the US dollar because it could happen to them, you know, all of a sudden Washington could say you're done.

Rogers also commented on Bitcoin and confirmed that he did not buy any BTC. He reiterated his opinion that if cryptocurrency succeeds as a currency, governments will outlaw it because they don't like competition.

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All content in this article is for informational purposes only and does not in any way serve as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.