15:21 - 25.10.2024

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October 25, Fineko/abc.az. One of the most famous investors in the world, Jim Rogers, in an interview with MarketWatch, said that the American economy is heading for an “extremely bad” recession, which will provoke investors to flee to safe haven assets.

ABC.AZ reports that Rogers told what assets he holds in his portfolio to protect against shocks and what he is ready to buy instead of gold.

Rogers believes that if the economy really goes down, then gold and silver will benefit, as well as commodities in general.

“The U.S. economy is getting closer to suffering an “extremely bad” recession — one that’ll lead investors to seek out precious metals,” Jim Rogers told MarketWatch during a Zoom interview this week. But the veteran investor said he’s more likely to buy silver than gold as a way to “hide” from the economic turmoil.

“History would indicate we’re getting closer to a recession, “but I don’t know when,” said Rogers, chairman of Beeland Interests Inc., who co-founded the legendary Quantum Fund with billionaire George Soros in the 1970s. “I do know there’s going to be a recession again, and I do know it’s going to be extremely bad.”