Jim Rogers: The Worst Bear Market Is Coming

Jim Rogers says the next bear market will be ‘the worst in our lifetime’

He wouldn’t go so far as to say this was the start of a bear market, which is typically defined as a drop of 20% or more from a significant peak.  Furthermore, he expects the current stock-market rout to continue.  He cautioned that “debt is everywhere.  Furthermore, it’s much, much higher now.”

On Thursday, the S&P 500 SPX+1.49%   and Dow Jones Industrial Average DJIA+1.38%  officially entered correction territory.  In addition, both indexes are down more than 10% from recent highs.

Now 75, Rogers founded the Quantum Fund in 1973 with George Soros.  The hedge fund famously gained 4,200% by 1980.  This compared very favorably to the S&P 500’s 47% return.  Rogers has seen his share of bear markets.  They included the crash of 1987 (a 36% decline), the bursting of the dot-com bubble of 2000-’02 (a 38% drop) and the Great Recession of 2007-’09 (a 54% fall).

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