NEW YORK (Reuters) - Well-known investor Jim Rogers said on Wednesday he has been buying dollars over the past two months to bet on a near-term rebound, but remains very bearish about the U.S. currency over the longer term. "Over the past couple of months I have been accumulating U.S. dollars ... because there are too many bears," Rogers told the Reuters Investment 2010 Outlook Summit in New York. But he said the global financial crisis is merely in a temporary reprieve. Longer term, huge U.S. government debt issuance and a debilitated dollar will drag the world into a deeper crisis, he said. There is a strong possibility that within the next three years or so that longer maturity U.S. government bond yields could reach double digits, as in the early 1980s, he added. The U.S. 10-year Treasury note's yield, which moves inversely to its price, hit a high of 15.8 percent in September 1981, according to Global Financial Data.
I can comfortably say that Jim Rogers has no money left and has lost all his cash in the market. My experience of meeting people has often taught me some very good lessons. those who make money in the markets have little time for interviews, tv shows, and constant public face calling the market. I have also learnt that, more often than not, what you see in appearance is often the opposite of the truth. This phenomena holds beyond finance and its little characters. regards, Batman
Amazingly Jim Rogers never had a losing trade ever in his lifetime. This man is a living phenomenon. Every trade always a winner! His "I've accumulated Dollars" is obviously conveniently reported after the fact. Had the Dollar crashed -20% over the last two months he would have resorted to his standard "I own the Yen and the Swiss Franc, the US Dollar is a flawed currency" line, without ever mentioning his Dollar accumulation.
November 13 The US Dollar May Rally "Whenever you have everybody on the same side of a boat, you know it's time to move to the other side for a while. We may have a rally in the dollar" November 3, 2009 Rogers sees brief dollar rally He says he has increased his dollar holdings in anticipation of a rally in the U.S. currency, but the dollar is still broadly set for a lasting decline. The US Dollar Is Overdue For A Rally October 29, 2009 "The dollar is overdue for a rally. Everybody in the world is pessimistic on it, including me" Bloomberg http://jimrogers-investments.blogspot.com/ As for the never a losing trade quote, in his Market Wizards interview he admitted he lost all of his money when he started in Wall Street I believe it was in options that's why he never played those again. Then he joined Quantum and I dont't think they had a losing trade often back then given the results. Anyway, he admitted commodities turned sour in 08 but he stated he ofset those losses shorting the likes of F&F and C into the ground.
I like Rogers.... But it would be nice to see some actual "real" performance numbers..... There is a big difference between selling media....books....etc..... versus actually "doing it".... It reminds me of once directly questioning an oil analyst at a major brokerage firm....My question was how much money have you made actually trading the stock ?.....His answer was he has never traded in the stock.....and this is a person telling the company's brokers to tell their clients to buy the stock.... ????????
If you can call Bernanke and Geitner clowns and criminals and plead for the FED to be abolished on national Television there is no doubt: you are financially independent. Plenty of people who's succesfull trackrecord is out in the open for everyone to see yet they faill to draw attention like Rogers does. There is a reason for that and the reason is the man is a visionary. Again, in his Market Wizards interview from 1988 he predicted basically the crisis we and the US is in today. Too much consumption, too much debt, dollar will suffer, politicians will make it worse. Brilliant.
............................................................... 1000% agree.... Even so....better to actually see some personal actuals.... As he also mentioned.... He is the worst timer.... Timing can be everything..... ............................................................. In the money business....it is about actually making money.... In writing books....it is about selling them..... ............................................................... Why would anyone listen to someone who cannot make money themselves ? Entertainment ?
Debaser, take my advice, from someone who has worked closely with the best. there are many who predict. who call the market. and in fact they are very frequently correct in their calls. but none actually take the trades themselves. for he who is experienced with heart at this game knows well - CALLING OUT LOUD WHAT YOU TRADE IS THE BIGGEST OMEN FOR FAILURE. Many of these so called investors resort to writing, 'actively trading in the market' by merely given their views to others. market Wizards? what Wizards? the best masters of this art know one thing - if you are a winner, keep silent. and this rule holds beyond trading. your biggest opponent is often yourself. you often master this beast better on your own. those who put it up for show distroy it. Rogers biggest achievement is his association with Quantum. No successful fund manager sells his home to live in Singapore. tatoo this to your arm. he is not visionary. he is contrary on every level - not because it works but because it sells well. regards, Batman
Don't listen to me Rogers has stated a million times. Do your own homework. Don't listen to anyone. He as so much as acknowledged he did the research and Soros did the trading. Why would he 'act' as the top trader if he isnt? There are dozens of people each hour on CNBC who will tell you which stock will do wat the next 24 hours. Listen to them if you want someone to hold your hand. As far as going on record about his performance I would tend towards considering such disclosure is each man's choice and a matter of privacy.