Jim Rogers Quotes of the Month: Here’s Why I Went Long the Dollar
Famed commodities investor Jim Rogers has a lot of nuggets to offer investors. Here’s his quotes of the month:
“I do not see any major new sources of [Oil] supply. We know that the known reserves of oil (NYSE:USO) continue to decline worldwide. We know that there are huge shortages of agriculture developing. I don’t know if you knew this, but the average age of farmers in America is 58 years old. In 10 years, they’re going to be 68, if they’re still alive.
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Throughout the world, we have serious, maybe even catastrophic developments in agriculture (NYSE:RJA), which is going to hurt us all over the next couple of decades. There will be setbacks and corrections along the way, but we have serious problems facing us in nearly all commodity areas.”
“Well, all markets, bull or bear, have contractions, consolidations, corrections — call them what you will—and it looks as though that’s happened to some commodities (NYSE:RJI) now.”
“Mainly because everybody is so bearish on it, including me, I decided to go long the dollar (NYSE:UUP). What I’ve found over the years of investing is that when everybody is on one side of the boat, you should go to the other side, at least for a while. So, I’ve gone to other side of the boat—I own the U.S. dollar, and we will see. I’m a very bad market-timer; I’m a horrible trader, so I’m sure I’m wrong. I shouldn’t even be trying it, but there I am.” - IndexUniverse
“The US economy will not recover until we accept reality, stop spending money we don’t have, go down to a lower level, and start over.” – BusinessWeek
“Its lots of fun finding a country nobody knows about. Only thing better is finding a country everybody’s bullish on and shorting it.” – MarketQuotes
“They may not call it [Quantitative Easing 2]. They may call it “cupcakes”. Who knows what they’ll call it, but it’s coming back.” - Benzinga
“We need to cut spending, we need to get rid of the deficit, we need to do something about the madness of those people in Washington.” – Bloomberg.com
“The United States is trying to drive down the value of its currency (NYSE:UDN) … but that’s not a good policy. It is lunacy to think that the United States is going to prosper by the devaluation policy of the Federal Reserve.” – Lew Rockwell
Why should a good, honest German taxpayer, a guy who saved his money, suddenly get a bill from the German (NYSE:EWG) government saying you have got to pay for some Greeks sitting on the beach drinking ouzo? That’s absurd. – Business Week
(Source: The Unofficial Jim Rogers Blog)