Renowned Investor Jim Rogers, who co-founded the Quantum Fund and Soros Fund Management, warned investors about the upcoming bear market in an interview with Kitco News, published last week.

Rogers believes the next bear market will be “the worst” in his lifetime, noting that shares of many companies will drop 90%. Rogers mentioned debt, which skyrocketed since the 2008 crisis when the US “had a problem with too much debt”, as one of the reasons for the expected horrible bear market.