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Jim Rogers' advice on stock market crash: ‘Buy the rumour, sell on the news’
Stock market crash: Praising PM Modi, Jim Rogers said, “If Mr Modi does what he said, it is going to change India dramatically and the world as well.”
American investor Jim Rogers reflected on Indian stock market crash while also saying that there are signs of a "big correction" in the US stocks later this year. The market veteran said, “When some good news is coming, the (usual) expression is 'Buy on the rumour and sell on the news'. We thought this (general elections outcome) was coming, so many people bought in advance. Now that it is here and actually happening, it is common for a market to sell off. My inclination at the moment is just a typical 'Buy on the rumour and sell on the news'.”
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Praising PM Modi, he said, “If Mr Modi does what he said and emphasises manufacturing in India, it is going to change India dramatically and the world as well.”
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Talking about commodities, Jim Rogers said, "Silver (price) is down around 30-40 per cent from its all-time high. I would buy silver at current prices, in fact, bought some yesterday. I'm more bullish on silver than gold. I own both but prefer silver at current prices."
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On the global front, he said that the US stocks could see "a very big correction" later this year.
"US markets have been going up for 14 years, which is the longest in American history. I can see the signs that it is going to come to an end later this year. And, when that happens, it is going to be a very big correction in the US because the debt is unbelievably high. We had a problem in 2008, since then debt has skyrocketed," he said.
