Jim Rogers Is Now Shorting A Major Western Financial Firm That Everyone Thinks Is Sou

Discussion in 'Wall St. News' started by loza, May 6, 2010.

  1. loza

    loza Guest

    Provided by the Business Insider, May 6, 2010:

    In an interview with India's Economic Times, Jim Rogers reveals an intensely bearish attitude on stocks, and even drops a bit of a mystery:

    He says: "I am shorting a stock market index in the US, I am shorting an emerging market index and I am shorting one of the large western international financial institutions."

    "It is an emerging market index; it is not a specific country. It is an index of many emerging markets and that is mainly because the emerging markets have grown more than most things here during this big recovery. So that is where some of the excesses are developing."

    Which major financial institution might he be shorting?

    He describes it as a bank which people think is 'extremely sound', but which could be taken down by currency problems.

    So, who is it? Citigroup (C) JPMorgan (JPM)? Goldman Sachs (GS)?

    Any guesses?
  2. You need to realize that he is just talking and likely is not making any of those trades. He is always talking about positions he is supposedly taking but when he gets called on it after the fact that it was a wrong call, he claims to never have taken the trade.
  3. General Electric is my bet, they are the next GM.
  4. loza

    loza Guest

    perhaps, but maybe he is...at any rate we do not need an another financial company, dark swan surprise.....
  5. Daal


    My guess is Goldman Sachs
  6. Yep, poker players play with their cards face out.

    They're also apt to give gifts because, as a group, they're quite benevolent.

    At best, good 'ol Jim would be front-running.

    Hmmm, JPM is the one that "hasn't" fallen. Dare I say yet? Largest derivative posture.

    I wuv playing guessing games! It's fun. Another clue please.
  7. He was right about Citi back in 2007/2008. At $30+ he said it was a $5 stock.

    He was one of the first to say that all the big banks were effectively insolvent.
  8. I remember when he shorted the q's and they went to over 100.
  9. AIG is a pretty obvious short because they have a massive negative net worth and probably won't earn profits again, ever. I've come pretty close to pulling the trigger on that one myself.
  10. What's obvious about it?

    It was reverse spilt for a reason.

    There's always somebody on the other side of the trade. Average volume is 15 million PER day.

    There's a distinction between a company and it's paper.
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    #10     May 6, 2010