Jim Rogers on the Markets

Discussion in 'Wall St. News' started by LondonUSTrader, Jun 5, 2008.

  1. Rogers Says the Crude Bull Market Has `Years to Go' (Update1)

    By Todd Zeranski and Betty Liu

    June 5 (Bloomberg) -- Jim Rogers, chairman of Rogers Holdings, said the increase in the price of crude oil has ``years to go'' as known sources of petroleum are dwindling.

    ``I know that unless someone discovers a lot of oil, it can go to $150, $200'' a barrel, Rogers said in a Bloomberg Television interview. ``The facts are the world is running out of known oil reserves.''

    Crude oil for July delivery rose $1.62, or 1.3 percent, to $123.92 a barrel at 9:51 a.m. on the New York Mercantile Exchange, after earlier dropping to $121.61, the lowest since May 15. Futures, which reached a record $135.09 a barrel on May 22, are up 89 percent from a year ago.

    Rogers said he bought airline stocks around the world today, saying bankruptcies show the sector may be nearing a bottom. ``Bankruptcies are signs of bottoms, not signs of tops,'' he said

    He also said he was shorting Exchange Traded Funds for investment banks, and specifically Citigroup Inc. and the Federal National Mortgage Association, or Fannie Mae.

    ``I am short all the investment banks,'' Rogers said on the phone from his home in Singapore. ``I know they're all in trouble, most of them have phony accounting.''

    Rogers said in addition to airline stocks, he also likes the Swiss franc, Japanese yen and Chinese renminbi.

    To contact the reporter on this story: Todd Zeranski in New York at tzeranski@bloomberg.net; Betty Liu in New York at Bliu17@bloomberg.net.
    Last Updated: June 5, 2008 10:11 EDT

  2. Hasn't he been long airline stocks for like 1-2 years now? Oh the pain.
  3. He's usually early on his calls, but he is often proved right in the end.

    He was short metals a long time before the top of the last bull market in commodities, but it was a great trade eventually.
  4. I don't doubt he had many great calls. I just think that buying a sector that is a in a downturn, taking a 50% hit on it, adding more to losing positions and THEN declaring "OK NOW THE BOTTOM IS IN GUYS" makes him look very good at this point.

    But then again, things can look a lot different within just 1-2 short years.
  5. If memory serves, he was originally buying airline bonds, not stocks.

  6. when Rogers does his fundamental research, what sources does he use for his data? what kind of databases do people like him use? what do they cost?
  7. Daal


    bloomberg as usual gave a bad interview. they should have asked him about the CTFC and his fund. they always ask the same stuff and he always give the same answer
  8. zdreg


    there is never a thread where a poster does not try to belittle jim rogers. his calls are superb. old trader is correct he recommended airline bonds not airline stocks. rogers has never claimed to be a trader . his profits come from long cycles as in commodities or real estate. his sale of his manhattan house will prove to be close to a top if not the top of the market. he made superb calls on china in spite of severe retracements. his calls on russia, indonesia and the euro have been wrong.
    these represent lost opportunities but not lost money. his calls on rice cotton and oil have made people alot of money.

    don't forget his call on german brewries and regional banks years ago before the current implosion.
  9. Mvic


    He also called the current rally in US equities back in March.
    #10     Jun 5, 2008