Jim Rogers, a great investor who co-founded the Quantum Fund, told me he was at a conference with 300 hedge fund managers, when he spoke to them he was amazed to find out that 76% of them had never owned gold.
"When you have a long bull market in anything, at the end everyone becomes hysterical, everybody owns it ... and then we will have a huge bubble in all of them," he says. Rogers estimates the commodity bull run, not just gold, is about halfway there.
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