In his recent interview with Edelweiss Wealth Management, Jim Rogers discusses how every bull market ends the same way. Here’s an excerpt from the interview:
Rogers: I see the same thing I’ve seen at the end of many bull markets. A lot of new people come in, they call their friends and they say oh I’ve discovered this new thing called the stock market and it’s fun, and you can make money, and it’s easy. It’s easy to make money.
And new… and SPACs, SPACs have been around for 300 years but SPACs come along every time there’s an end of a long bull market. So SPACs are here again.
I’ve seen this movie before, I know how it ends. It’s going to end with a lot of people losing a lot of money. I hope I don’t lose a lot of money, but a lot of people who are new and inexperienced and think it’s easy and when it collapses, and when a lot of people lose a lot of money they’re going to blame… they’re going to blame the market.
They’re going to blame the computer. They’re going to blame the TV. They’re going to believe you. They’re going to blame me. They’re going to blame everybody they can.
As I say I’ve seen this movie before. This is not the first time. It’s happened many many times and I’ve read about it many more times.
You can watch the entire discussion here:
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