One ET member who claimed to be in the know said according to his sources Rogers sold his long oil positions around 130$. Who knows.
Not his fault you can't find a good way to invest into commodities. Remember this cat retired at 37 after making ridiculous returns on his fund. Furthermore, he has always said there will be hiccups on the way. Hiccups are buying opportunity and if you would have bought early this year, or averaged in heavily, you would be sitting very very pretty. You traders who demand an A+ forecast will no errors are the bigger fool/poorer investor.
The thing Jim Rogers doesn't tell you about investing in commodities is the negative carry because most commodities are in contango. To beat that handicap, the spot price has to go up a significant amount every year. Commodities futures were not made for investing.
I do notice the press has suddenly learned how to spell "contango," and even "commodities." I've seen it come and go. Certainly when you deal in a commodity that is in contango, it makes it more difficult. However, if a commodity is in contango and the basic price is going through the roof, you're still going to make a lot of money. But I've seen contango come and go. From my point of view, as a passive investor, I really don't pay attention because there's usually something in backwardation and something else in contango, and they come and go over time. According to studies, they haven't had that much difference. But if you're really smart and you can invest away from contango or can invest with contango and know how to do it, you'll make a lot more money. And there are people who think they are really smart and are trying to do that right now. I'm not smart enough to do it, so I just continue to invest in an indexed way with all commodities. http://jimrogers-investments.blogspot.com/2009/10/contango-in-commodities-is-it-problem.html