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<\/a>Jim Rogers says global debt will cause pain in stock markets.<\/p><\/div>\n
By BARBARA KOLLMEYER
\nMarketWatch<\/p>\n
Now that the Fed has finally started to peel off the quantitative-tightening Band-Aid, things should start getting back to normal.<\/p>\n
That’s a good one, given no one really knows what normal is these days. A pullback from the record highs of yesterday looks to be in store, and gold bugs should cover their eyes, because the market has been playing catchup to\u00a0Fed rate-hike hints.<\/a><\/p>\n We\u2019re diving right into our\u00a0call of the day<\/strong>, which comes from Jim Rogers. In a sweeping interview with RealVision TV, the veteran investor warns another bear market is coming, and that it will be \u201chorrendous, the worst.\u201d It\u2019s the level of debt across global economies that will be to blame, he says.<\/p>\n And retail investors who have been piling into exchange-traded funds will be particularly vulnerable to that next big mauling. For those ETF owners \u2014\u00a0who are all in on easy S&P plays right now<\/a>\u00a0\u2014 here\u2019s his message:<\/p>\n \u201cWhen we have the bear market, a lot of people are going to find that, \u2018Oh my God, I own an ETF, and they collapsed. It went down more than anything else.\u2019 And the reason it will go down more than anything else is because that\u2019s what everybody owns,\u201d he says.<\/p>\n Like others, the chairman of Rogers Holdings is worried about bond and stock valuations right now, and about breadth in the market \u2014 that is, the number of stocks moving higher versus those heading the other way.<\/p>\n But within this disaster in the making, he sees one opportunity.<\/p>\n \u201cIf somebody can just take the time to focus on the stocks that are not in the ETFs, there must be fabulous opportunities in those stocks because they\u2019re ignored,\u201d he says. \u201cSome of them have got to be doing very, very well. And nobody\u2019s buying them, because only the ETFs buy stocks.\u201d<\/p>\n What does Rogers like? Overlooked and hated markets \u2014 agriculture and Russian stocks \u2014 and he remains a fan of Chinese stocks. The Singapore-based investor owns gold, but says the metal isn’t hated enough to buy right now and it\u2019s going to get \u201cvery, very, very overpriced\u201d before the current run is over.<\/p>\n It\u2019s a fascinating interview, chock-full of advice. Check it out\u00a0on Real Vision here<\/a>.<\/p>\n Final note here, if you were paying attention, you would have heard Rogers\u2018s prior warnings about\u00a0dire collapses<\/a>\u00a0and\u00a0crashes<\/a>\u00a0over the summer. Here\u2019s another look at some of his\u00a0crash predictions.<\/a><\/p>\n