Legendary investor Jim Rogers says it seems like there may be hope on the horizon for investors, but perhaps not for long. “We had huge pessimism because of inflation and other things,” he told ET NOW. “Now it looks like inflation and pessimism are breaking, but just remember, this is probably the last rally.” When asked what he would go long on for the next three years, Rogers’ response was simple: “First, silver, maybe agriculture.” “Silver is down something like 70 or 80% from its all-time high, and gold is 15% below its all-time high. I will buy both at the right price, but at the moment, I would prefer silver to gold.” In other news, consumer prices rose less than expected in November. However, prices are still near a multi-decade high. Recent data indicates that the CPI rose 0.1% in November from the previous month, but prices climbed 7.1% on an annual basis. 

MoneyWise viaYahoo Finance/Jing Pan
‘Probably the last rally’: Jim Rogers warns not to get too excited over the market’s recent bump — these are the shockproof assets he likes best right now

The stock market has been pummeled, and many investors are wondering when things will turn green again.

According to legendary investor Jim Rogers, there is hope on the horizon — but perhaps not for long.

“We had huge pessimism because of inflation and other things,” he tells ET NOW. “Now it looks like inflation and pessimism is breaking, but just remember, this is probably the last rally.”

You can read the full story, here.

Fox Business/Megan Henney
Inflation eases more than expected in November to 7.1%, but consumer prices remain elevated

Inflation moderated more than expected in November, but consumer prices remained near a multi-decade high, continuing to squeeze millions of U.S. households and small businesses.

The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.1% in November from the previous month. Prices climbed 7.1% on an annual basis.

Those figures were both lower than the 7.3% headline figure and 0.3% monthly increase forecast by Refinitiv economists, a potentially reassuring sign for the Federal Reserve as it tries to tame runaway inflation with a series of aggressive interest rate hikes. It marked the slowest annual inflation rate since December 2021.

You can read the full story, here.

Business Insider/Zahra Tayeb
Billionaire investor Jeff Gundlach says the odds of a Fed rate cut next year are over 75%, as the coming recession bites

Billionaire investor Jeff Gundlach believes the odds of a Fed policy U-turn next year are over 75% given the US economy is highly likely to enter a recession.

The central bank is widely expected to raise interest rates by 50 basis points this week, slowing the pace of its tightening campaign after four consecutive 75 basis point increases, as it continues with its efforts to bring inflation down from 40-year highs to its 2% target.

Gundlach believes the aggressive monetary tightening by the Fed will trigger an economic downturn by next year, forcing policymakers to cut rates. “I think the odds are probably greater than 75% that there’s a rate cut in 2023,” Gundlach said in a Monday investor webcast hosted by his firm DoubleLine Capital, per CNBC.

Read the full story, here.

About the Author

60 Years Experience

REQUEST YOUR FREE
GOLD IRA GUIDE

By clicking the button above, you agree to our Privacy Policy and authorize Red Rock Secured or someone acting on its behalf to contact you by email, text message, pre-recorded message, or telephone technology on a recorded line, for marketing purposes. Consent is not a condition of any purchase.