https://www.bloomberg.com/news/arti...cts-worst-bear-market-in-next-couple-of-years
As global stocks attempt to recover from their biggest quarterly loss since the global financial crisis, veteran investor Jim Rogers says there’s worse to come.
The current rebound in markets may continue for a while following a bout of extreme pessimism, but another rout is imminent, according to the chairman of Rogers Holdings Inc. That’s because of a triple whammy of coronavirus-fulled economic damage, high debt levels and interest rates that are low, which will hurt when they rise.
Opening Day Of The St Petersburg International Economic Forum 2018
“I expect in the next couple of years we’re going to have the worst bear market in my lifetime,” Rogers said in a phone interview.
Stocks plummeted in the first three months of the year as worries about an all but certain recession swept through markets. A global gauge of emerging- and developed-world equities posted its worst quarter since 2008, even as governments worldwide pumped trillions to prop up economies and central banks undertook emergency interest-rate cuts.
The impact of the virus on economies “will not be over quickly because there’s been a lot of damage. A gigantic amount of debt has been added,” he said.