OK, my bad. Only just heard about this Rogers guy recently. Re the name: I was only just recently a perma bull myself...
Nice one. Still, saying things like "oil prices will NEVER hit $100" is just plain foolish. I forgot, did Rogers have a timeframe on the prediction? P.S.: Looked it up, he said "possibly this year". We shall see....
Rogers is always very vague about his "calls"...."may see $100 oil sometime in the future"... gimme a break....that is cocktail party talk... I think Rogers was asked to leave CNBC as he was so wrong for so long on his "over valued" stock calls in 97-98-99...he was the regular guest host on Fri mornings... He either lost a ton on shorting the markets at that time or he just likes to talk....he was very bearish on the entire equity market as he had never seen a stock trade for more than 15 times earnings... He is a very nice guy but.....a legend in his own mind... SteveD
Some people here are really jaded... Legend in his own mind? My freaking hairy ass! The guy retired at age 37!! Did you? Just to educate you: " In 1970, he joined Arnold S. Bleichroeder, where he met George Soros. The same year, he and Soros founded the Quantum Fund. During the following 10 years the fund gained 3,365% according to Mr. Rogers ("from 12-31-1969 to 12-31-1980, the Soros Fund chalked up a gain of 3,365%") while the Dow Industrials advanced about 20% (963.99/800.36). It was one of the first truly international funds. In 1980, he decided to "retire." In 1998 he founded the Rogers International Commodity Index, which has increased 263% since Aug. 1, 1998 (as of June 2006). RICI returns July 31 1998 - July 30 2004 (6 years) (closing prices) RICI returns compared with equity, debt, real estate. Rogers International Commodities Index (RICI) +167.441% S&P 500 Index -1.69% Lehman Long Treasury Bond Index +49.36% Vanguard REIT Index +28.04%
Oil at only $100 a barrel? This is the low end. Rogers is wrong, too conservative! $200 per barrel ha! If people say gold will be US$000's per ounce why can't oil rise to 300?...or more?????
marketsurfer wrote... he is wrong. very very wrong. merely promoting his positions. we are holding all oil shorts at this time. surf .............................................................................. Excellent Commentary Marketsurfer is correct.... This is the reason.....Most of the worlds peoples incomes range from $200 to $700 per month....When oil is at $75....most of the worlds people have to change ...not because they want to...because they have to.... And much of the world has already shifted to mostly diesels and motorcycles.... A shift from the typical $3.00 option to the alternative $2.00 is happening...and is being duly noted by the oil producers which do not want to see market share decline... And this is a 10 year process whereby the oil producers will test out what the world can bear...as they are currently doing... Oil has struggled above $75 since Katrina in light of many very oil bullish events since then... ........................................................................... The catch 22 is the dollar and where is will be relative to its peers in the next 10 years...
This has got to be the less correct statement of the week. China has the world's 3rd largest carmarket. Are you saying they are switching back to 2 wheels? I don't think so...