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Jim Rogers warns of meltdown
Old 08-12-2017, 06:30 AM   #1
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Jim Rogers warns of meltdown

Just wondering if anyone else read this article. I usually don't take the time to read things with a headline of a prediction but I did. I would say right or wrong we all should have a plan and know our risk limits. I can speak just for myself but I still won't change anything and will not panic and wait out the storm for portfolio to regain numbers.
The Coming Meltdown Will Rock Your Life in Unimaginable Ways, Jim Rogers Warns
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Old 08-12-2017, 06:37 AM   #2
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I'm not discounting his prediction, but he has been a bear for a while. Hope he's wrong.
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Old 08-12-2017, 06:39 AM   #3
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Well he said this in 2010:

Quote:
Speaking in an interview with business television channel CNBC, the septuagenarian investor said that "since the beginning of time" there has been a recession every four-to-six years, and that's mean another one is due around 2012.
He's a quack who is milking past glory... there are a lot of them out there.
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Old 08-12-2017, 06:39 AM   #4
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Well, there's this:

https://ca.finance.yahoo.com/news/ex...144747654.html
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Old 08-12-2017, 06:39 AM   #5
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I think this sums up Mr. Rogers credibility very nicely:

Quote:
I Just Accidentally Discovered That a World-Renowned Investor Is Full of Sh!t
https://thehustle.co/jim-rogers-recession
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Old 08-12-2017, 06:42 AM   #6
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This is really about market timing so the thread was moved to the appropriate forum.
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Old 08-12-2017, 06:44 AM   #7
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Shotgun approach.

Sooner or later the market WILL crash.

And then, he will crow that "See I was right!!!!"
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Old 08-12-2017, 06:47 AM   #8
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Sounds like someone who is frequently in the news over the last 6-12 months.
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Old 08-12-2017, 06:56 AM   #9
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Lol! I like the phrase "it is just noise" which I learned here. Anyone can make a prediction or has an opinion but no one knows the future. These article can do one thing and that is to make us aware of a down time and how we can survive and handle the situation.
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Old 08-12-2017, 07:14 AM   #10
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Even if the market crashed by 50%, I will still be up by staying in the market as long as I have.

At some point, he will be right. Other countries will have a bad time first, that can be a canary in the coal mine.
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Old 08-12-2017, 07:18 AM   #11
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This one idiot has scared my parents (in their 80's) so much they have gone to 100% CDs.
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Old 08-12-2017, 07:24 AM   #12
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Quote:
Originally Posted by REWahoo View Post
I think this sums up Mr. Rogers credibility very nicely:

https://thehustle.co/jim-rogers-recession
Based on that article, I'd wait until Rogers predicts smooth sailing and good times for all, then sell everything.

I think there's nothing wrong with listening to and even following the advice of profesional financial advice-givers. It only makes sense, though, when you listen to the same individual or organization over a long period of time, and find their advice useful across that entire period.

No matter what fear we have or view we hold, we can always find someone to tell us we're correct, and feed that flame. IMO this is the absolute worst mistake an investor can make. This is why it is so critical to filter out all the noise.
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Old 08-12-2017, 08:03 AM   #13
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Originally Posted by MichaelB View Post
No matter what fear we have or view we hold, we can always find someone to tell us we're correct, and feed that flame.
And what few realize is that we are far, far more likely to believe those sources than others.

https://en.wikipedia.org/wiki/Confirmation_bias
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Old 08-12-2017, 08:04 AM   #14
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no worries here - no need to touch investments until 2034 and then only if SS takes a haircut.
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Old 08-12-2017, 08:04 AM   #15
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A predilection for doom and gloom also seems to increase with age. Especially in males.

My business partners father has been predicting the collapse of markets and broader society for years. He is a survivor of the post war years in Germany though, so can be forgiven it to a certain degree because of his experiences.
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Old 08-12-2017, 08:27 AM   #16
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Never heard of the guy.

We really need a Luis Rukeyser like figure to step in and start talking some sense when the self-appointed gurus start shooting off their mouths.

luis rukeyser on 20% market crash - Bing video
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Old 08-12-2017, 08:35 AM   #17
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Originally Posted by Lcountz View Post
Shotgun approach.

Sooner or later the market WILL crash.

And then, he will crow that "See I was right!!!!"
+1. Sad, reminds me of Elaine Garzarelli and many, many others. Being right once on a major move can make an FA wealthy even if they're never right again...
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Old 08-12-2017, 08:36 AM   #18
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I never see these people held accountable for their wrong predictions. I can never recall anyone of the financial shows who are predicting something being asked "but you predicted such-and-such 5 times in the past and it never happened, why should we listen to you now?" Or even "what percentage of your past predictions were accurate and can you document that?"
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Old 08-12-2017, 08:40 AM   #19
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I never see these people held accountable for their wrong predictions. I can never recall anyone of the financial shows who are predicting something being asked "but you predicted such-and-such 5 times in the past and it never happened, why should we listen to you now?" Or even "what percentage of your past predictions were accurate and can you document that?"
The shows make all their money by currying favor with everyone (sponsors and guests), going after someone they helped give exposure and therefore credibility makes them look bad too. They'll just ignore people who've been wrong too many times, not expose them and themselves in the process.

And it gets the audiences attention when some suit says it's the end of the world or we're in for a major uptick, not so much for anyone saying business as usual - most people don't care what Bogle has said all his life. And we love to be told why this time is different though the market outcome itself is the same time after time. So those who regularly read or watch CNBC and the like get what they seem to want. [I did for a few years long ago before I caught on, it's the same stories year after year with new faces]

However the financial sector is good about trotting out people to calm fears when there really is a big correction.
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Old 08-12-2017, 08:48 AM   #20
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A predilection for doom and gloom also seems to increase with age. Especially in males.
There's an entire genre of internet content and books to cater to their needs for "doomer porn". I won't promote any of them by linking.
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