JIM ROGERS: 'One reason I am not buying the US is because the US is making all-time highs.'

Legendary investor Jim Rogers thinks US stocks are probably going to fall.

In an interview with MarketWatch published Friday, Rogers said that instead of buying US stocks, he is investing in Asian markets — Japan, Russia, and China.

Here’s why:

One reason I am not buying the U.S. is because the U.S. is making all-time highs. I prefer not to buy things making all-time highs. Japan is down 50% from its high, and Japanese Prime Minister Shinzō Abe said he will print unlimited amounts of money. He is doing things to make the market go up.”

Another market down from its all-time high is Chinese stocks, which have been on a tear this year but have collapsed in June. On Friday, the benchmark Shanghai Composite index suffered a 7% drop to a one-month low.

Russia’s Micex index has been one of the best-performing global stock markets year-to-date.

Rogers also said that he’s not buying gold, and said the precious metal is “in a correction” that has gone on now for four years. However, there might be an opportunity to buy within the next two years if it goes under $US1,000, Rogers said.

Rogers is worried that the bond market is “probably” in a bubble, and said that a bond market scare is just the sort of thing that could scare people enough to cause a stock market sell off.

Rogers added said, “Write this down for June 2015: This low interest rate environment will not continue forever. Bonds could go down for a long time, which will scare the bureaucrats in the central banks. This is why we might have a 10% to 13% decline in stocks.”

Head over to MarketWatch for the full interview »

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