Tuesday, February 16, 2016

Why I shorted the NASDAQ

 I was short the US, the US market, but I was mainly short the QQQ. As you know, the few big stocks, so six or eight or ten big stocks: Amazon, Netflix, Microsoft, those stocks, never went down. You can look at something called the QID, which is a reverse ETF for those stocks; that, you’ll see where I have been short. I have been shorting those stocks because they never went down, they were vastly overpriced.

In the year 2015 in America, the New York Stock Exchange had twice as many stocks down as up, so the market was fooling everybody, but it was fooling everybody because of these eight or ten stocks that went to staggering levels and never went down. So that’s what I shorted, and still am. And by the way, I have not added to that short, I have not covered that short, I am still short, and watching.

Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.