Rogers International Commodity Index (RICI), managed by veteran investor Jim Rogers, will cut its weighting toward crude oil next year and raise exposure to natural gas, gold and silver, due to what Rogers termed "consumption changes". The shift in weightings of the RICI comes amid projections for higher US crude oil supplies in 2014, which some analysts say could further weigh on weakening prices.
US natural gas production is also expected to rise next year, although gas prices have been trending higher lately due to cold weather in key consuming regions of the country.
RICI's weighting for the West Texas Intermediate (WTI) crude, the benchmark grade for US oil, will be cut by 5 percent next year to 16 percent, according to Beeland Interests, Inc, the Rogers-controlled company that runs the index.
more @ http://www.brecorder.com/fuel-a-energy/193/1259881/
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%.
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| Jim Rogers |
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