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Tuesday, October 14, 2008

Insights from the Financial Guru Jim Rogers

I’ve been very busy lately watching the stock market and trying to understand the financial crisis. Over the years there has been one man I’ve watched, listened to, and sometimes taken his advice. In light of these tough financial times, I wish I had followed his advice even more. After all, he IS a billionaire investor. Jim Rogers is his name. He and George Soros worked together to create the Quantam funds and now he offers free entertaining advice on television as a guest commentator frequently.

In a nutshell, when asked what he would do if he were Ben Bernanke, he’d 1)abolish the Federal Reserve, then 2) he’d resign. He’s extremely against the printing press Bernanke has set up and believes the measures the Fed has taken will cause “an inflation holocaust”. He believes the best answer would have been to let the banks fail, and to quit bailing out the inept “29-year olds on Wall Street driving Masaratis.” However, now that the government has bailed out the banks, Jim Rogers tells investors to buy on the fundamentals and find sound investments, including agricultural commodities, Swiss Francs, and Japanese Yen. Why the currencies? The dollar is basically going to be worthless by the time Bernanke is finished, according to Rogers, and Swiss Francs and Yen are strong currencies during the inflationary times he believes the dollar will face.

Here’s a clip from early June 2008, outlining Jim’s unbelievable insights.


t said...

It scares me. Here they are cutting the rates constantly and ignoring the inflation problem. The only bright spot is the drop in gas prices. Pretty soon we'll all be investing in gold and trading in our paper money.