Friday, Oct 9th, 2009
Investor Jim Rogers, a prominent commodities bull, said Thursday the U.S. government bond market will be the next bubble to burst due to unsustainable borrowing, and agricultural commodities and precious metals are among his favorite investment picks.
Rogers also said stock markets could head for a pullback following a strong rally.
“It’s overdue for a correction. Certainly, it would not be surprising if there were a correction after a straight-up move for six months,” Rogers told Reuters Television in an interview.
He was not “selling the market short,” and the equities market could keep rising for a long period of time, Rogers said.
After the Reuters interview, Rogers said at a seminar hosted by ETF Securities that the bull market in U.S. Treasurys has come to an end.
This article was posted: Friday, October 9, 2009 at 4:12 am