Safe to say he’s not on Bernanke’s Christmas card list. Jim Rogers, the co-founder of the Quantum Fund with George Soros and author of Hot Commodities sat down for an interview with the Bull Market Thinking blog.
That doesn’t mean the gold correction is necessarily over, but he is sticking to it when it comes to gold.
He encourages investors to follow his lead and pay attention to what is happening around them, not on what others are saying. In effect he is referring to the idea the Fed will be unable to gracefully exit the marketplace with its QE program.
In the past couple of years, Jim Rogers has been on the record talking about the opportunity to short US treasuries. With the talk of tapering giving the bond market enough volatility to make a penny stock blush, Rogers is grappling if he should cover.
Ge says he is short junk bonds the most in the theory that if the bond market goes, thos get hit the hardest and the fastest. So right now, he’s in a wait and see mode as he tries to position himself for the best possible exit.
Deeper into the interview, Jim Rogers was asked on the Fed’s ability to control the bond market. He responded that it one of two things will happen, Either the central banks are going to stop with the money printing, or the market will force them to stop. Rogers take now is that we may have a mixture of both at this point. Talk of a taper, and the bond market finally saying this is insane that QE has lasted this long. - in tradethenewsroom
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
