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equities have had a shaky first quarter in 2018 down 7 and a half% from January's highs is this correction going to continue joining me today is legendary investor Jim Rogers Jim welcome back I'm delighted to see you Daniel good morning good morning 2017 as you know Jim saw one of the best bull runs in the S&P 500's history I know we've spoken about corrections in the past how do you see this playing out here well I suspect the correction will go on a little bit longer but soon something's going to happen to make everybody happy again and the market will go up one more time and then probably that'll be the last herah and next year will be not a lot of fun what kind of Correction are you anticipating here Jim well Daniela it's been over 10 years since we've had a a be well it's been 10 years since we've had a bare Market that's very very unusual it could be 20 years we don't have to have bare markets every so often but we always have so the next bare Market's going to be the worst in your life the worst in my lifetime and I'm older than you Daniela so in terms of numbers we're speaking in over 50% correction Jim if I ask you to quantify it somehow absolutely the worst in my lifetime you can look it up it's pretty simple all right let's turn to gold now Jim uh it reached its highest level since August 2016 last Wednesday as Jitters grew over Syria and Russia and of course that potential trade war with China uh this Monday however gold is not really moving and investors are asking why not here Jim well in my view and I have a little bit of experience when there's a lot of bad news and something doesn't like gold doesn't go up it means it's not going to go up the correction is not over for go likewise if you have something that's going up and good news comes out and it doesn't go up then it means it's not going to go much higher it's time for a correction so I'm still waiting for a much much better price to buy gold and it looks like at least today and this week the market agrees with me okay so you're also still waiting for that bull market to begin then for gold oh yeah yeah yeah no if gold goes to a thousand I hope I'm smart enough to buy a lot of gold because before this is over Daniela gold is going to go through the roof when people lose confidence in governments and and money and paper money they always buy gold and silver whether they should or not it's irrelevant they always do and they always will let's turn to Trump tax reform now Jim do you think it will deliver the kind of growth the Republicans were promising it's going to produce growth for a while but again Danielo there many problems out there in the world interest rates are going to be going higher looks like Mr Trump wants War at least trade War all of these things are not good for not good for markets especially after a 10-year Bull Run Jim have you made any changes to your portfolio given the current cont context or are you sticking to to what we've spoken to in the past no not much I'm so lazy Daniela that I don't I don't do things very often you know I I I'm a I hate to use the term but I'm a long-term investor I don't change very often I'm a terrible Trader so I don't even try finally let's get your thoughts on bitcoin it's Fallen about 60% since December we talked about cryptos before stealing gold Thunder last year do you think retail investors will favor precious metals over Bitcoin this year now that prices have dropped so much uh whether it's this year or not I know in the end they certainly will yes there will be money on the computers eventually in some countries at China they don't even have they don't use money anymore I tried to buy an ice cream the other day and I couldn't buy it I had money she just had the machine so she gave it to me in the end I wish i' been buying gold or Mercedes or something money is going to be on the computers eventually sooner rather than later in some countries I suspect it probably will not be Bitcoin but who knows all right Jim Rogers sticking to Gold yes buy gold when it goes down don't sell your gold thank you so much for joining us Jim yep byebye and thank you for watching we'll see you tomorrow
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