Jim Rogers 02 (Jun 10 - Dec 26)

[winston]

On CNBC:-

Jim Rogers thinks that since everyone is bearish on the EUR, it may be time to think about going long the EUR.

He's short Stocks and long Commodities.

Jim Rogers has no position on the British Pound.

Jim Rogers is short Technology, Emerging Markets and a major financial institution.

[winston]

On CNBC:-

Jim Rogers does not have a position in BP yet.

He feels that oil prices will rise.

Jim Rogers does not want to name the major western financial institution that he's shorting. The headquarter is in Amercia.

As the world economy slows down, government will print money and it may be good for Commodities.

[iam802]

My bet is that he shorted JPM

[winston]

Rogers: CPI Data Is a Lie and Let's Get Rid of IMF
Thursday, 10 Jun 2010 09:54 AM
By: Julie Crawshaw

Consumer Price Index figures lie, says investor Jim Rogers.

“They’ve changed their accounting several times in the past few decades,” Rogers says.

“When housing was 20 percent to 25 percent of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it,” he told Hera Research Newsletter.

“It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS (Bureau of Labor Statistics) has used over the past 25 or 30 years.”

Nor does Rogers have much use for the International Monetary Fund, founded just after World War II to take care of any short-term currency needs that countries might have.

“They’ve not had much success, if you look back over the past 60 years,” Rogers notes. “Nearly everything they’ve done was wrong. Why do we need the IMF? It’s not 1945 anymore.”

The world, Rogers says, does need to replace the U.S. dollar as default currency. He just doesn’t think that the IMF's special drawing rights are the solution.

“Something has got to be done,” Rogers says. “We cannot continue with a currency which is so deeply flawed and something is going to have to be changed.”

“Most people, … want to have something in their hands that they think they can spend. I cannot imagine that a special drawing right, which has no real existence, could survive a crisis or two.”

A special drawing right is made up 44 percent of the U.S. dollar, 34 percent of euros, 11 percent of the Japanese yen and 11 percent of Great Britain's pound.

These figures change every five years as a matter of a vote, and a reallocation is made in part by calculating the change in influence each nation has in international trade, GoldSeek reports.

http://www.moneynews.com/StreetTalk/Jim ... /id/361602

[winston]

Jim Rogers: "I Am Buying Euro For A Relief Rally" But All Fiat Currencies Are Doomed
by Tyler Durden

On one hand you have BNP revising their mid-term EURUSD forecast to 0.98, on the other you have such pessimists as Jim Rogers saying to buy the Euro. Who to trust anymore?

Granted, Rogers' thesis is only predicated on a a relief rally, pretty much the same as what we suggested when we saw the Goldman downgrade of the EURUSD, and immediately beckoned readers to get right back in.

We consider the +50,000 pips picked in the ensuing week a direct gift from god (or at least his favorite worker). At this point the relief rally has likely fizzled, and the direction now is indeed down, at least until the next time the CFTC notes the net EUR shorts have hit a fresh record.

Back to Rogers: in the long-term, Jim is just as bearish as always: "The European governments are not getting their act together, not at all. All paper money is flawed, nearly every currency in the world."

Rogers on European credibility: "If Greece went bankrupt it would send the signal to the world, and to the rest of Europe - ok, we're not going to let people lie about their finance anymore, we are not going to let them spend money they don't have, we are going to run a tight ship. That means the euro would be an extremely sound currency, it would the old Deutsche Mark."

On Keynesianism: "You can't keep spending money you don't have because eventually the whole thing collapse in a house of cards." On the transition to reality: "I am not suggesting it is going to be a good time, don't get me wrong. But if you wait 5 years from now, 10 years from now, when there is nothing you can do, and the whole system collapses, then you have real chaos in the streets, then you have Greece never recovering.

In the US we have had states go bankrupt, cities go bankrupt, counties go bankrupt. It didn't end the US, it didn't end the US dollar." And on the flaws of our political system, which are just as applicable to our own president:

"Greece is just trying to get through the next election, I am trying to figure out what's good for country, what's good for the world, what's good for Europe, what's good for the financial system."

http://www.zerohedge.com/article/jim-ro ... are-doomed

[winston]

Jim Rogers: Inflation risks are "extremely serious"
From Bloomberg:

Investor Jim Rogers, chairman of Rogers Holdings, said the threat of inflation is “extremely serious” and the world is in an ongoing bear market for financial assets.

Rogers, who predicted the start of the global commodities rally in 1999, is betting on a decline in stocks and gains in commodities, he said today in an interview with Bloomberg-UTV in Mumbai. He’s also bought up the euro and the U.S. dollar and said agricultural commodities are “extremely cheap” on an historical basis.

The Federal Reserve this week said Europe’s debt crisis may hinder growth in the U.S., the world’s largest economy. Global stock markets have plunged amid the fallout from the European crisis, which saw euro nations and the International Monetary Fund back up Greece with an almost $1 trillion bailout.

“The world has an ongoing economic problem which has not yet been resolved yet,” Rogers said today. “I don’t think the best place for people to invest is in stocks.”

Asian stocks dropped the most in nearly three weeks today on disappointing sales and earnings forecasts by U.S. companies. The MSCI World Index of the largest companies has lost about 13 percent of its value from a more than two-year high in April.

“I am still concerned about debt around the world,” Rogers said. “I am not terribly optimistic about the world economy partially, largely, because of the gigantic debts which have built up.”

Rogers said he’s not optimistic about the euro or the U.S. dollar in the “long term.” Sugar and silver are cheap on an historical basis, Rogers said.

[kennynah]

this fella is very predictable one...

almost always...after he has taken a huge position (not before he shouts in opposite direction), he then gets the media to pump up his trade.... believe me... he will unload to you...

[winston]

Hmm.. so we should try to unload to him first before he unloads to you

[winston]

Jim Rogers Sees Opportunity in Silver and Palladium

From time to time, we like to check in on investment guru Jim Rogers to catch up on his thoughts on the markets and global economy. We do so of course due to his past success with the Quantum Fund he previously ran with George Soros. Nowadays, Rogers invests his money under Rogers Holdings and he has some pretty staunch viewpoints. Rogers himself proclaims he is a poor market timer. So while he may be early on an investment theme, he often finds and rides macro trends.

To some, his views seem repetitive. But you must keep in mind that he very frequently appears in the media and is seemingly asked the same questions over and over. The last time we checked in on Jim Rogers we saw that he was shorting market indices. From all of these interviews, one of his stances has become abundantly clear: he loves commodities and in particular, precious metals.

In his recent slew of interviews, Rogers has proclaimed that he is fond of gold and still owns it. However, he is not buying more nor is he selling. In the end, he actually thinks gold will be a bubble in the distant future. For some reason he tosses out the year 2019 as his estimate, and it seems he thinks gold's reign will last a decade or so. He thinks this bubble top is a ways off because governments have been debasing their currencies at a rapid rate. Historically, he points out, this has always led to higher prices for real assets and he thinks this time will be no different.

Speaking on the subject of gold, Rogers says that, "I know the old (gold) high, adjusted for inflation, is over a couple thousand dollars an ounce. I know it'll get over that in the next decade. It depends on how much they debase the currencies. It's all part of the same picture... most governments everywhere only know one thing and that's to print and spend money that they don't have. Whenever you do that, it debases currency, always has, and until I see some governments realize that they have to do something else, then I plan to own gold and other precious metals and other real assets."

This of course is not the first time we've detailed a prominent investor's fascination with gold. John Paulson's hedge fund Paulson & Co started a gold fund mainly to bet against the US dollar and the currency debasement that Rogers centers his thesis around. We've also seen John Burbank's hedge fund Passport Capital lay out the rationale for owning physical gold. Not to mention, David Einhorn's Greenlight Capital has owned physical gold for some time now. Inflation is a very legitimate future concern for some of the top minds in the investment industry. Rogers is no different.

His main rationale here stems from the fact that many long-term bull markets end in hysteria and bubbles. He doesn't like to buy things at all time highs and that's pretty much where gold is trading these days. As such, Rogers' interest has been piqued by other metals.

If he had to buy a metal right now, he said he would focus on depressed metals such as silver or palladium. Rogers points out that silver is 60-70% below its all-time high while palladium is around 50-60% below its all-time high. He already owns all four metals: gold, silver, palladium, and platinum. Throughout all his interviews, he was very adamant that he was not selling his gold, but he was not buying more either.

Shifting to Rogers' views on currencies, he is particularly fond of the renminbi. While it is not his favorite overall investment due to liquidity concerns, it is the long-term investment he is most certain of. Rogers mentioned this last week in talking with Bloomberg. And on CNBC that same week, Rogers reaffirmed that he is still long commodities and short stocks due to the withdrawal of government stimulus and his anticipation that central banks will keep the printing presses rolling. This is directly in line with what we saw from Rogers' portfolio in early May.

Lastly, we wanted to highlight that Rogers has been eyeing the events surrounding the oil spill as well. We've already detailed how Whitney Tilson's T2 Partners has bought BP, citing valuation and extreme circumstances. Rogers hasn't quite gone that far yet, but it has definitely caught his eye. On the topic Rogers ponders, "Is it the end of BP? I doubt it. Somewhere along the line I expect that I will buy BP. But I'm not buying it now - just watching to see what happens." In his experience, he notes that disasters are usually a great time to buy. On that same note, he also cautions that there's usually plenty of time to buy into the opportunity presented by the problem. For the time being, Rogers is more than comfortable to wait and watch the proverbial knife drop before jumping in the (oil coated) water.

http://www.marketfolly.com/2010/06/jim- ... ilver.html

[winston]

Sell Bonds, Buy Precious Metals, Rice on Supply Shortages, Jim Rogers Says By Ranjeetha Pakiam

Investors should sell bonds and buy commodities like silver and rice as a “refuge” as the world economy may continue having problems, Jim Rogers, chairman of Rogers Holdings said.

“Bonds are not a good place to invest in,” Rogers said at a conference in Kuala Lumpur today. “You should own commodities because that’s your only refuge” whether it’s silver or rice, said Rogers, who predicted the start of the global commodities rally in 1999.

The best place to be is in commodities and other natural resources, including precious metals like silver, platinum and palladium, said Rogers, who co-founded the Quantum Hedge Fund in 1970. Commodities are good to buy as supply shortages are already developing, the Singapore-based investor said.

‘Straight Up’

“I do own gold,” he said. “Gold has been extremely strong of late, but I’m not rushing out to buy gold. I don’t like to buy things that have been going straight up.”

While gold has been trading at all-time highs, silver remains 60 to 70 percent below its peak and is a better investment, he said. Silver reached an all-time high of $50.35 in New York in 1980.

Still, agricultural commodities are better than metals as prices are “very depressed,” he said, pointing to sugar which is 75 percent below its all-time high in 1974. Raw sugar for October delivery slid 1.2 percent to 16.49 cents a pound on ICE Futures U.S. in New York. It reached a record of 66 cents in November 1974.

“Not many things are 75 percent cheaper that 36 years ago, but that’s true of sugar,” Rogers said. “Agriculture commodities are desperately cheap compared to 20, 30, 40 years ago.”

Rice futures on June 30 touched $9.55, the lowest price since October, 2006, on rising production and declining demand. The contract for September delivery gained 0.7 percent to $9.935 per 100 pounds on the Chicago Board of Trade at 6:15 p.m. in Shanghai.

http://www.bloomberg.com/news/2010-07-0 ... -says.html