Jim Rogers for DAF on 2010-10-05 Warning of March
Jim Rogers : Gold has been going straight up , most things that go straight up eventually have to rest for a while , may beit while go up few point higher but I suspect it will rest soon , But over the long turn Gold is going to go much higher , do not sell your gold...
I said by 2020 (Gold) will be at least $2000 dollars an ounce so it is not so much you have $1300 today , yes sure I think it will go to $200 may be before that , may be much higher than that , if Gold goes to its old high adjusted for inflation it should be well over $2000 now , so gold got much further to go ....
for me if I had to buy a precious metal today I'll buy silver , silver is down 60 percent from its all time high , gold is making all time highs , I am sure your parents taught you to buy low and sell high , so silver is probably better !!!!
Sugar is just another agricultural product which is very depressed over its all time highs , Rice is probably even better these days , most agricultural products are extremely depressed on a historic basis , so just get on the list and look at them you'll see sugar is down a lot , rice is down a lot there are plenty of opportunities in agriculture ...you if i were you I'll go back to Germany and become a farmer , because farmers are going to be much more prosperous than anybody else over the next twenty years ....
The surprise with oil is how high the price is going to stay and how high it is going to go the world is running out of known reserves of oil , may be there is a lot of oil out there but we do not know where it is if it is there...so oil is going to stay high and go much much higher , Oil is going to be much higher over the next two decades ...
Regarding alternative energies Jim Rogers says : if you could find a well managed company , you can invest in it now ...alternative energy has a great future I am explaining to you the oil reserves are going down prices will be going higher and politicians love alternative energy because they say it's clean they say it is wonderful for the environment etc etc...if you could find a sound company at a cheap price then you should buy it now , you will do very well...
regarding the Us equity market Jim Rogers had this to say : no all that's already in the stock market , this is already October , the election is in November the earnings are coming out , no no you have to worry about march and April of the next year , whatever happens this week or the next week is not important for the stock market it is what's going to happen in April , you have to look to the future worry about next year , that's what i am worried about and you should be too ...yes the recovery is pretty slow...as you can see America is not doing terribly well , Germany seems to be doing a little better than America as far as recovery is concerned , Asia is doing better , America is lying behind , but America it's got horrible problems , terrible problems ..the stagering amount of debt in this country and they are not taking the right policies to solve our problems , they're building up more debt ...I cannot believe that they could say the solution to too much debt too much spending , is more debt and more spending ?! but that's what they're saying ! ...now this is insane if you ask me , and that's why America is falling behind and Asia continues to doing well...
I am not buying stocks anywhere right now , I bought a few in Malaysia recently but i am not buying stocks anywhere for the most parts because in my view I do not know what's going to happen to the economy , if the world's economy gets better commodities are going to do well because of the shortages , if the world economy does not get better i wanna own commodities because governments gonna print money , that's bad but they're gonna do it ...that's all they know , and if they print you'll better off owning real assets silver rice natural gas that's where you'll make money , if they print money even if there is a bad economy so either way i think i am going to be better off in commodities than in stocks ...
well longer term the Dollar is finished , I mean the dollar is a terribly flawed currency however right now everybody is pessimistic it's been going down for several weeks , everybody is pessimistic including me so I wouldn't sell it when I see everybody very pessimistic about something it's usually time to buy if nothing else for a rally so I wouldn't sell the US dollar right now , I am not buying it that's cause I own some but i expect it to probably rally , but in the long term ...it is not good news.......hang on to your silver hang on to your gold ...hang on to your rice ...
