Jim saved his best for last as he gave his outlook for 2009 in late 2008. Hope you have a pen and paper ready as Jim gives his thoughts on the current (upcoming?) year. The video is almost 20 minutes long so you might want to take it piece by piece.
- Worst recession since WW II
- Jim is prepared for the worst
- Rogers “negatively impressed ” by U.S. leadership
- Biggest issue is America continues to print large amounts of money
- Commodities are only things unimpaired
- Worlds reserves of oil are declining by 7%/year
- Will make more money in Agriculture than Gold
- Continues to be worst market timer
- Covered most U.S. stocks in October
- Continues to buy Rogers Indexes
- More bullish on Ag than metals for 2009
- Looking to short U.S bonds
- Best way to buy China is to buy commodities
- Most people in China could care less what is happening in the West
- Bernanke does not have a clue of what is going on
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4. January 2009 at 8:57 pm
Anyone care to comment on why Jim Rogers is carrying around gold coins? I have seen him whip out gold coins on several different interviews and wonder why. I know he is bullish on commodities and gold, as I am as well, but he has for the past 20 years saying that there are other commodities that will perform much better than gold – specifically Ags and other metals like silver, zinc and lead….
Just trying to get some other thoughts on this…
4. January 2009 at 9:03 pm
I wonder the same thing on the gold coins. I know in an interview he carried small packages of sugar that he took from the backroom and he later said he thought sugar would be worth more. Maybe good luck charms?collector items?
5. January 2009 at 3:33 am
he’s literally showing you what he’s doing right now.
as stated above, when he was heavy into ag futures,
he was using sugar packets, now he’s getting more into
precious metals and futures, physical gold coins, etc,
and, as they are probably not regulated “by what his
lawyers say” [since it's just another type of currency]
he can buy a pocket full at every country or coin shop
he visits. oh, and since they say $10 or $20 or $50
on each coin, imagine how many coins you can take
across borders without having to declare them.
note: at brokerage houses, gold is traded at the currency
desks, not the commodities desks.
5. January 2009 at 3:47 am
I think he is often confronted with wallstreet guys and reporters and just wants to make a point with commodities — they are part of everyday life and cannot be dropped like shares and paper money… etc.
6. January 2009 at 4:18 pm
One additional thought…
For years Rogers has touted the Renminbi as a potential successor to the US dollar as the world’s reserve currency. Yet recently, when telling the world he intends to “sell US dollars”, he only mentions the Yen as a currency he would buy right now. Anyone hear any recent commentary on his thoughts on the renminbi?
7. March 2009 at 12:16 am
Mike: I do believe Jim Rogers, when he pulls out that gold coin out of his jacket pocket, is using a little ‘showmanship’ to broadcast his point: “I’m buying commodities such as gold and here it is!”
I’ve heard Rogers say he is also owns oil and farm products in general also. He appears to like food growers in Canada. Apparantly Canada has more natural resources per capita then the USA. I hope this helps.
22. September 2009 at 4:53 pm
Bernanke CS does very well know whats going on. Banks were obliged to buy stocks, if not: no capital from the government/FED/Central Bank. This is done “to save” the insurance-companies and the pensionfunds who are still deep in stocks and saved by this move. Even the banks are saved by it as by theire buying the price of the stocks went up, so theire own “capital” went up and therefor they just passed the socalled “stress-test” as well as by new rules. Buffet, with a direct line to Obama, helped as well. Obama needed him to show the world it were The American Investors who foresaw the raise out of the recession.
( And if not Obama could blame them.) Now the man on the street is buying and proven now is that the CEO’s are selling…
3. October 2009 at 3:58 am
Mike, regarding the renbimbi, Jim Rogers is clear:
He buy’s when he can. Its not easy to get them.
However latest beginning September I was at Hong-Kong Airport and officially was mentioned at one currency-exchange desk:
“We also exchange Renmimbi.”
I do not know or its still there. But for sure this was new.