In an interview with Bloomberg, Jim Rogers gave insight as to where is he putting money to work.Most, if not all , of Jim Roger’s investment were made during the October/November selling climax.
Shorts
- “Short” call options on ETFs, brokerages
Longs
- Chinese commodities, infrastructure (i.e. water companies)
- Yen
- Has been buying commodities since October/November during “selling climax” (Ag, Metals,Energy)
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January 21st, 2009 at 5:52 pm
Please don’t make any investment decisions because of news from Bloomberg. They have decided to be the arm-chair, trend-following, told-you-so’s that do nothing but make confusing generalities about world events. You can read stories both bearish and bullish about the same commodity in the same day. “The sky is falling.” “Oh, wait, no it’s not.” Give me a break. Bloomberg is a travesty. If the market goes up, they post news about how the market “will go up.” As soon as it turns down, look out, Bloomberg says, “it will get worse.” Oh thank you omnipotent Bloomberg for your wisdom and honesty. Do yourself a favor and never rely on their nonsense again. Boycott Bloomberg.
January 21st, 2009 at 6:09 pm
The same could be said for CNBC. Folks, lets be honest, Bloomberg, CNBC, etc. are out their for excitement which leads to ratings.
January 21st, 2009 at 7:25 pm
Markets work based on buyers and sellers. Supply and demand. The key is understanding what is driving supply and demand and buyers and sellers. Fundamentals are critical, timing buys and sells is critical. You cannot trade the news. Period.
January 22nd, 2009 at 3:16 pm
I agree with your opinion whole-heartedly (Mike). Never trade the news. News is no better than the opinions and sentiment and objectives of the companies that report it. Trade the technicals and let the rookies trade the “news”. Supply and demand are the drivers. The world can get by with less, but the corporations are in meetings right now spinning ways to trick us into consuming again. Overall, we still have the conundrum that nothing will start going up until something starts going up. Nobody wants to be the hero and be the first one in, so now we have a vestige of the true nature of humanity (Cowardice) rearing its ugly head and forcing us all to the sidelines. The US government is leading the way as the biggest coward of all because instead of standing up with courage and integrity against the corrupt bullies of Wall Street, they keep saying. “OK, honey, no problem, we all make mistakes. Here take this extra allowance.” Hence, instead of cleaning up the greed and destruction, they encourage it. Some in Congress seem to have a clue, but as a whole, they are failures. Bernanke is a colossal failure. If he had integrity, he would just disappear. Paulson was a wimp who couldn’t say no to his cronies. And Bush, well, he was just plain stupid. So, here we are, stuck in the muck of cowardice and stupidity. Wait until our creditors come a knocking. Wait till inflation. Wait till you have no choices because the government owns everything and everything is useless to survival. Yee-ha! Yahoo! Civilization at its finest.
January 22nd, 2009 at 3:57 pm
Wow. And I thought I was a doom and gloomer! As many have said, no one in charge seems to want to let the markets work. Free markets have a way of correcting and self-correcting excesses. Generally speaking, free markets punish who needs to get punished and reward those deserved of the reqards. But the powers that be continue to intervene, year after year. And this just continually weakens the free market. The US needs this recession. It hurts, but the past 10 years have been filled with excess, and now is the time for overleveraged consumers, businesses, banks and the gov’t to be responsible and focus on regenerating this economy. But it cannot be done painlessly.
As far as trading goes, the markets are a disaster. The volatility in everything is just insane. For now, the shorts are in charge in almost every major market except for the precious metals, airlines, the Yen and the dollar, believe it or not. I find it hard to believe that oil and agriculture have gotten pummeled to the extent to which they have. And they continue to get crushed on rallies.
Personally, I think most markets are setting up for a nice rally. There is a ton of fear and doom and gloom out there – it looks to me like the sellers are getting exhausted. Yesterday I bought some airline stocks in the US – LCC, UAUA, CAL and JBLU. The Yen has done me well, as have gold and gold stocks.
Best of luck – as the saying goes, buy low and sell high!