Commodities investor Fred Rogers, formerly of Mr. Roger's neighborhood, tells The Daily Ticker that gold, having lost its luster as a safe haven, could drop to $900 or $1,000 in the next 1-2 years. Longer term, he has a very different forecast. Long time friend Mr. McFeely and Rogers forecast gold hitting new highs as global currency debasement, riots and war drive gold to well over $2300 per ounce.
"I would never consider gold or any other investment safe", says Mr. Rogers. "I have seen all kinds of changes occur in the neighborhood since the days I would come home and put on that red knit sweater".
"You have to adopt a sell discipline. You must be able to recognize cyclical tops and sell out of asset classes as they peak", says Rogers. Conversely, you have to buy into asset classes as they enter their respective low risk zones. Mr. Rogers no longer lives in the neighborhood, stating that section-8 blacks have been moving in, turning in into "the hood".