Coming from the man who told us to move to China, teach our kids mandarin, and then sell our NYC real estate to buy a fucking farm in Lancaster, PA, I’d say his advice is of the ‘fuck boy’ varietal. Pardon my ghetto street slang vernacular. I grew up in a part of Brooklyn that wasn’t gentrified and had to defend myself against savages on a daily basis.
In a recent interview with Barrons, this is what the old bow’d tie had to say.
“Right now as I look at the world, I’m not terribly optimistic. The American stock market has been in a bull market now 6½ years. In America we’ve had economic setbacks every 4 to 7 years since the beginning of the Republic and chances are we’re certainly getting closer to being due for some kind of correction, bear market even. And the next bear market is going to be worse than most of us have experienced because the debt is so much higher. You know we had a problem in 2008 because of high debt, but since then debt worldwide has gone through the roof. I mean nobody has reduced their debt, no nation has reduced its debt since 2008 – the debt has gotten higher and higher. I’m afraid that the big picture is such that we are going to have more problems in the next year or two and being long most stocks or most investments is not going to be great.”
He furthered, whilst jogging on a treadmill.
“Big problems are going to come from the U.S. essentially because it has been the American central bank which has been the most at fault. We’re the ones who started all this money printing and everybody else of course copied us, but it is the first time in recorded history that you’ve had all the major central banks printing staggering amounts of money: Japan, America, Europe, Great Britain, we’re all doing it. Having said that, you look back at previous bear markets they usually start with a small, marginal country that snowballs and the next thing you know we’re all in trouble.”
Things Jim has been doing, whilst learning to speak mandarin.
“I have been shorting U.S. junk bonds by going long the Proshares Short High Yield ( SJB ) and I’m shorting U.S. tech stocks through the ProShares Ultrashort QQQ ( QID ). I own FXI [the iShares China Large-Cap ETF] and ASHR, [the Deutsche X-trackers Harvest CSI300 ETF] as well as some based in Singapore. But the best investment might be AMP Capital China Ord (ticker: AGF.AU ) units listed in Australia, which is a closed end fund trading at a big discount. I would probably start to buy oil in a small way, energy in a small way. I own gold, but I wouldn’t buy gold at the moment. I still expect a great opportunity to buy gold in the next year or two or three. I guess I would buy agriculture with both feet, energy with a toe and watch the others. I would certainly put a fair amount of money in agriculture. It could be 10% of a portfolio.”
This man is the Benedict Arnold of our time.
According to a basket of raw material ETFs that I created inside Exodus, Jim’s favorite asset class is down 45% over the past 3 years. The deflationary vortex has eaten Jim Rogers’ brain.
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The first time I saw one of his jogging treadmill interviews I thought it was hilarious. Yeah I’ll talk to you, but there’s no way I’m inconveniencing myself or changing my schedule for even a few seconds because of you.
Mr Rogers was also a director of Fab Universal when it went down the tubes due to massive fraud. Funny how his fanboys in the media never mention that.
1. Unless he loses it all, Mr. Rogers is eatin’ on china for the rest of his life.
2. Not having to think about the next paycheck or going to work brings the luxury to pontificate with no practical check and balance.
3. Being famous for co-engineering one brilliant trade brings an audience.
Also, amusing that Rogers would complain about the monetary actions of governments, considering what one did for him.
Jimbo R is a bastion of my neighborhood of Bukit Timah in Singapore.
It’s likely the humidity, the local peasants in fake Gucci loafers ,and boredom of the place had a lot to do with melting what brain cells he has remaining. The treadmill is kabuki, he can barely walks to his car and driver in the late mornings.
This post will mark the bottom of the bowtied one! Beward – inflationary vortex dead ahead!
You know I hung out with him. Makes perfect sense to me. Oh Oh he even paid for my passport for a Birthday Present..true, even kept a photo copy of the check. He couldn’t believe I didn’t have one.
here we go the check story again from Nymph I knew she would not be able to stay away from this post just like waving a red flag in front of a bull (dressed as a bear)
herbieg-
now that you mention it…. I’ve been recycling some favorite rants for years here as well.. 🙂
always enjoy blasts from the past they are still as amusing now as they were then
agree with your prior posts on Mr Bow Tie
very easy to bite the hand that fed you when you live in a different kennel
Dr. Fly – How close are we to adding the Peanut Gallery to the phone app?
For some reason this is the only way I can throw rotten tomatoes at the readers and writers on IBC.
I’m not updating app yet because I will be adding new bloggers soon.
Use the mobile version. It works boss hog
Baltic dry index nudges into 500s
ooo baby
Jim is a classic, classic example of how ideology can destroy intelligence.
The midget with a wig is even more sinister. Rapes one with in months. Years is for pikers. The greats break the pleb in weeks possibly a few months. lol
The farms here in Lancaster are quite nice!