Jim Rogers, 75, says the next bear market in stocks will be more catastrophic than any other market downturn that he's lived through.
The veteran investor says that's because even more debt has accumulated in the global economy since the financial crisis, especially in the US.
While Rogers isn't saying that stocks are poised to enter bear territory now - or making any claim to know when they will - he says he's not surprised that US equities resumed their sell-off on Thursdayand he expects the rout to continue.
"When we have a bear market again, and we are going to have a bear market again, it will be the worst in our lifetime," Rogers, the chairman of Rogers Holdings, said in a phone interview.
- Source, The Sydney Morning Herald
