One week after RealVision brought us the latest Jeff Gundlach interview, in which the DoubleLine bond kingexplained why he is now “100% net short”, on Friday Grant Williams interviewed Jim Rogers, in which George Soros’ former partner (the two co-founded the Quantum Fund in 1973), is about as gloomy, warning “the next time the world comes to an end, it’s going to be a bigger shock than we expect.”
Nonetheless, since an interview talking about canned foods, radioactive fallout shelter and guns would be relatively brief, Rogers presents several non-traditional ideas, most notably as relates to various frontier markets he is looking at currently, as well as Russia, a market where he has notoriously been invested since the start of 2015 when he went long Russian stocks, and which recently – and very much under the radar – hit all time highs. So Rogers takes a well-deserved victory lap.
The investing legend, who doesn’t belong to any economic school of thought, also touches on China and reminds RealVision subscribers that ‘Beijing has said we’re going to let people go bankrupt, which I hope they do.’ He then emphasized, ‘they don’t do that in the West. The communist Chinese are going to let people go bankrupt, because they’re good capitalists.’ China has amassed debt and will not be able to help countries as they did the last time the world fell apart in 2008. ‘The next time the world comes to an end it’s going to be a bigger shock than we expect,’ says Rogers. Still, while China will face problems, Rogers assures it ‘will be the most important country in the 21st century.’
This post was published at Zero Hedge on Aug 27, 2016.
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