SINGAPORE (Commodity Online): Name the world's best and most passionate commodities investor. And most of you would come up with the legendary name Jim Rogers. Rogers has his heart and money into commodities, unlike other investors who dabble in stock markets most of the time, and do not spend and invest much in commodities.
Rogers, author such widely-read books like Hot Commodities and A Bull in China, says gold and commodities are not in bubbles as they are being made out by pessimistic investors and analysts. "I don't know what bubbles these people are talking about. I would advise them to name a commodity that is in bubble," Rogers told CNBC-TV18 in an interview this week.
So should investors believe Jim Rogers and step up their investments into commodities? Rogers says if you are an investor, commodities are the right and best place to be in. He cites the example of the most quoted commodity—gold—to drive home the point those have invested in the yellow metal have reaped rich dividends in the last one year.
Gold price that used to around $800 per ounce in January 2009, boomed to touch the historic high of $1,227 per ounce in November, 2009. This 10-month boom in gold price has prompted analysts like Jim Rogers to forecast that the yellow metal is further set to hit $2,000 per ounce.
Rogers recently said that he is waiting for the right opportunity to buy gold. "I will buy as and when gold price dips to $1,000 per ounce," he said adding that he find great investing potential in other precious metals such as silver, platinum and palladium.
So, again, can you relay on Jim Rogers' great appetite for commodities and invest? Rogers became a Wall Street legend when he and George Soros founded the Quantum Fund years back. Quantum Fund gained 4200%, making him the best known commodities investor in the world.
Rogers, author such widely-read books like Hot Commodities and A Bull in China, says gold and commodities are not in bubbles as they are being made out by pessimistic investors and analysts. "I don't know what bubbles these people are talking about. I would advise them to name a commodity that is in bubble," Rogers told CNBC-TV18 in an interview this week.
So should investors believe Jim Rogers and step up their investments into commodities? Rogers says if you are an investor, commodities are the right and best place to be in. He cites the example of the most quoted commodity—gold—to drive home the point those have invested in the yellow metal have reaped rich dividends in the last one year.
Gold price that used to around $800 per ounce in January 2009, boomed to touch the historic high of $1,227 per ounce in November, 2009. This 10-month boom in gold price has prompted analysts like Jim Rogers to forecast that the yellow metal is further set to hit $2,000 per ounce.
Rogers recently said that he is waiting for the right opportunity to buy gold. "I will buy as and when gold price dips to $1,000 per ounce," he said adding that he find great investing potential in other precious metals such as silver, platinum and palladium.
So, again, can you relay on Jim Rogers' great appetite for commodities and invest? Rogers became a Wall Street legend when he and George Soros founded the Quantum Fund years back. Quantum Fund gained 4200%, making him the best known commodities investor in the world.
In 1998, Jim Rogers launched the Rogers International Commodity Index, a composite, US dollar-based, total return index, designed to meet the need for consistent investing in a broad-based international vehicle. The Index represents the value of a basket of commodities consumed in the global economy, ranging from agricultural to energy to metal products.
So Rogers being the most astute investor in commodities, everyone believes when he talks that commodities are not in bubbles. Recently, Rogers lambasted Nouriel Roubini for predicting that gold price is in a bubble that would burst soon. Rogers said Roubini does not have any basic knowledge of gold and commodities markets in the world.
Similarly, last week, Rogers blasted short-sell guru Jim Chanos for predicting that Chinese economy is in a bubble that would burst anytime now. Rogers hit back saying people like Chanos who did not know the spelling of China some years back are now pretending to be experts on China.
"China is not in a bubble. But the Chinese economy needs to cool," he said.
"I am delighted to see what China did because some of the real estate in China was getting into a serious bubble. It's good for China and therefore good for most of us. They need to cool off their economy. They cannot get it too strong but China does not control the commodities market by any stretch of the imagination," Jim Rogers said.
On gold, Rogers told CNBC: "Gold made an all time high recently but everything else is still very depressed compared to its all time high. What kind of bubble are you talking about? Name one commodity that is in a bubble and all time high except gold."
Rogers further stated:
"I own crude. I don't think I would buy it right now. It's gone up a lot in the last 12 months. I own all commodities. They are the best place to be. If the world economy gets better, commodities are going to lead the way because there are shortages developing in most commodities."
"If the world economy does not get better then commodities are good place to be because they are printing so much money all over the world. So I would rather be in commodities, in just about anything. What is this bubble we are talking about? Cotton is 60% below its all time high and silver is 70% below.".
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Note- Members express their own view & may be or may not be having investment or speculative positions in the commodity, please do not take it as buy or sell call, pl use own judgments for buying or selling, after having discussion with your certified investment brokers or the person to whom u have good level of confidence. once sentiment is changed from good to bad no good news work but bad news do work, investors must keep this in mind.
NEW INVESTORS SHOULD BE VERY CAREFUL.
So Rogers being the most astute investor in commodities, everyone believes when he talks that commodities are not in bubbles. Recently, Rogers lambasted Nouriel Roubini for predicting that gold price is in a bubble that would burst soon. Rogers said Roubini does not have any basic knowledge of gold and commodities markets in the world.
Similarly, last week, Rogers blasted short-sell guru Jim Chanos for predicting that Chinese economy is in a bubble that would burst anytime now. Rogers hit back saying people like Chanos who did not know the spelling of China some years back are now pretending to be experts on China.
"China is not in a bubble. But the Chinese economy needs to cool," he said.
"I am delighted to see what China did because some of the real estate in China was getting into a serious bubble. It's good for China and therefore good for most of us. They need to cool off their economy. They cannot get it too strong but China does not control the commodities market by any stretch of the imagination," Jim Rogers said.
On gold, Rogers told CNBC: "Gold made an all time high recently but everything else is still very depressed compared to its all time high. What kind of bubble are you talking about? Name one commodity that is in a bubble and all time high except gold."
Rogers further stated:
"I own crude. I don't think I would buy it right now. It's gone up a lot in the last 12 months. I own all commodities. They are the best place to be. If the world economy gets better, commodities are going to lead the way because there are shortages developing in most commodities."
"If the world economy does not get better then commodities are good place to be because they are printing so much money all over the world. So I would rather be in commodities, in just about anything. What is this bubble we are talking about? Cotton is 60% below its all time high and silver is 70% below.".
--
Thanks,
Commodity Daily
You received this message because you are subscribed to the Google Groups "Commodity Daily" group.
To subscribe visit link http://groups.google.com/group/commoditydaily/subscribe
To unsubscribe from this group, send email to commoditydaily-unsubscribe@googlegroups.com
BLOG : http://commoditydaily.blogspot.com
Note- Members express their own view & may be or may not be having investment or speculative positions in the commodity, please do not take it as buy or sell call, pl use own judgments for buying or selling, after having discussion with your certified investment brokers or the person to whom u have good level of confidence. once sentiment is changed from good to bad no good news work but bad news do work, investors must keep this in mind.
NEW INVESTORS SHOULD BE VERY CAREFUL.
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