Wall Street Folly

• Jim Rogers Sells Dollars, Plans to Short Treasuries
• Currency Funds Crushed on Dearth of Market Trends
• Reduced LBO Fees Mean 2% Disappears as Pensions Lament Losses
• Financial News: Managers Bow To Client Pressure Over Fees
• Andreessen raises $300m VC fund Read the rest of this entry »

Tags: Currencies, Fees, Hedge funds, Jim Rogers, LBO / MBO, Treasury Bonds, Venture Capital

Go forth and multiply!: Jim Rogers’ latest excellent (and lengthy) Bloomberg interview includes his gushing over fatherhood in a discussion of “A Gift to My Children: A Father’s Lessons for Life and Investing”,
a book written for his two little girls that’s due out later this
month.  “In fact, if there’s anybody out there who’s watching this who
hasn’t done it, I urge you to get home and get on with it.  Take a day
off—take a half a day off–don’t take any day off — do it on your
lunch hour…. Rogers was in a great mood during the interview, which contrasted with a recent testy run-in with Fox Business’ Alexis Glick.

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Tags: Alexis Glick, Commodities, Gold, Jim Rogers, Oil

"Alexis, you're bad for my nervous system!" (see part 2 below)

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Tags: Alexis Glick, Ben Bernanke, Fox Business Network, Fox Business News, Jim Rogers, Tim Geithner

Don't expect a rout in U.S. Treasuries just yet says Jim Rogers;  he thinks that the Fed will be a buyer.  He had been expecting a fall, and had shorts on last year that would have benefited from the Treasuries getting hit, but he unwound in the fourth quarter at a loss.  He's waiting to short them again:

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Tags: Fed, Jim Rogers

Bloomberg Interview

Tags: Credit Crunch, Jim Rogers, Politics

Rogers: “I’m shorting again” “I can see these guys don’t know what they’re doing”….

Fox Business interview

Tags: Credit Crunch, Jim Rogers, Politics

The always outspoken Jim Rogers has more to say about the British pound, which he said last week was “finished”.  He said that it could reach parity with the dollar, although it could take many years. ( He’s not apparently shorting the pound):

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Tags: Autos, Bankruptcy, Barack Obama, Currencies, Currency, Jim Rogers, Politics

Is the British pound toast, as Jim Rogers suggested?  Not so fast, says Goldman Sachs:

Goldman Sachs Says ‘Stick to Guns,’ Bet Pound to Rise – Bloomberg

Tags: Currency, Goldman Sachs, Jim Rogers

One of the world's leading investors voiced the markets' concerns. Jim Rogers, of the Singapore-based Rogers Holdings and co-founder of the Quantum fund with George Soros, told Bloomberg Television: "I would urge you to sell any sterling you might have. It's finished. I hate to say it, but I would not put any money in the UK."

Mr Rogers added that the pound will fall below its record low of $1.0520 reached in February 1985. Given near parity with the euro, it raises the intriguing possibility that the pound/dollar/euro exchange rate could yield a "triple parity".

Jim Rogers: 'Sell any sterling you might have. It's finished'
- The Independent

Tags: Currency, Jim Rogers

Jim Rogers quotes from the Reuters Investment Outlook Summit:

"Without giving specific names, most of the significant American
banks, the larger banks, are bankrupt, totally bankrupt," said Rogers,
who is now a private investor.

"What is outrageous economically
and is outrageous morally is that normally in times like this, people
who are competent and who saw it coming and who kept their powder dry
go and take over the assets from the incompetent," he said.

"What's
happening this time is that the government is taking the assets from
the competent people and giving them to the incompetent people and
saying, now you can compete with the competent people. It is horrible
economics."

"Governments are making mistakes," he said. "They're saying to all the
banks, you don't have to tell us your situation. You can continue to
use your balance sheet that is phony … All these guys are bankrupt,
they're still worrying about their bonuses, they're still trying to pay
their dividends, and the whole system is weakened."

Jim Rogers calls most big U.S. banks "bankrupt" – Reuters

Tags: Banks, Credit Crunch, Jim Rogers

“All my new money goes to commodities and
China,” said Rogers, who co-founded the Quantum fund with George Soros in the
1970s and correctly predicted the start of the commodities boom in 1999. He
spoke at a seminar in Beijing yesterday.

“All the panic looks like a bottom,” he said. “I have bought in the last four
to five weeks. I’ve been buying shares in China for the first time in a long
time.”

Investor Jim Rogers Buys Chinese Shares as Market Hits `Bottom’ – Bloomberg

Tags: China, Commodities, Jim Rogers

Jim Rogers speaking to Rebecca Gomez and Cody Willard on Fox Business’ ‘Happy Hour’.

If the video player above isn’t working (there seemed to be some issues with it after we posted it) here’s the link.

Tags: Fox Business Network, Jim Rogers

Jim Rogers says that the price of oil is going much highter — to over $100 a barrel and is going to stay high….

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Tags: Jim Rogers, Oil

Jim Rogers, veteran investor and "Investment Biker" who founded the Quantum Fund with George Soros, is selling his upper west side Manhattan home and will be Asia bound when it closes.  Built in 1899 at Riverside Drive and 107th Street, it’s a 26 foot wide American Renaissance-style town house overlooking Riverside Drive and the Hudson River.  Asking price: $15 million.  Purchase price in the 1970’s: $105,000.  Not a bad gain if it sells at that price…

Jim Rogers Neighborhood – Wall Street Journal

Tags: Jim Rogers, Real Estate