Question: What are things Jim Rogers thinks sucks?
Investor Jim Rogers recently sat down for a chat with Fox Business. Whereas he’s happy as a clam when discussing the idea of investment bankers becoming farmers, there are a few topics that make Ornery Jim come out. They include:
This bull shit the government’s going to ultimately pull with the debt ceiling
“We are going to default one way or the other but they may not call it default. These debt reduction talks are a sham.”
The fact that the US won’t take his advice to take a time out
“They will probably raising the debt ceiling and announce some kind of wonderful deal, which they will promptly ignore. The United States is not going close down. It might be good for the world if the United States closed down for a while, but I can’t see that happening. Something will happen, things will look better, but then in six months or a year, things will be worse again.”
The Dollar
“I happen to be long commodities and short emerging markets** and technology in the U.S. I am also long currencies, I am short a major American bank and short bonds. It looks as though we are going to have a period of turmoil for a while. A market I am looking at is Japan; I own the Yen. I bought Japanese shares when the tsunami came, I think I am probably going to buy some more. I own the U.S. Dollar. It has been terribly beaten down. Everybody is bearish on the U.S Dollar including me. It’s fundamentally a terribly flawed currency. But when everybody is bearish on something it is usually a time to own it.”
Our soon to be former Treasury Secretary to whom the only thing JG has to say is good riddance
“He never should have taken the job. We are all find out Mr. Geithner doesn’t have a clue about what’s going on. Just about everything he has done has been wrong. We are in worse shape now than we were a couple of years ago except now we have staggering debt to show for the efforts.”
**Except for that whole China thing.
This is Jeopardy!
I’ll take Famous Titties for $100, Alex
~ Sean Connery
This guy….
I bet you can squeal like a pig. Weeeeeeee!
SABER!!!
Somewhere a little Elf is crying at treasury. Punked by Jim Rogers
I like Rogers and have read one of his books, and envy his ability to get younger women to ride across continents with him or, alternately, marry him. However, it’s really hard to get a fix on whether he knows what he is talking about because all his investments are now private.
Also, his comments on Geithner… he should not be comparing now to two years ago, but rather, our current landscape to one where we did nothing and let every major financial institution rise or fall on their own. It’s easy to critique “what is”, having avoided what could have been potential disaster in the past.
That’s really deep analysis. Thanks Finn.
Rogers is a stud. He carries a big chip on his shoulder, and his false modesty is particularly grating, BUT you ignore him at your peril. I got an e-mail response from him during the first inning of the crisis in 2007, and the line that stuck with me was ‘it’s going to get much worse”. I was short FNM,LEH, and BS. My mistake was not going “all in”.