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.
When the dollar goes up, commodities are soft all over the world, no matter what the commodity is. I suspect you are going to see more of that. I am not buying gold yet. I am not buying anything — stocks, commodities or bonds for that matter. I am sitting and watching. I am short on the US and long on China. I would expect more problems, more turmoil and that would present opportunities eventually.
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.
In my view, oil is making a complicated bottom. If we have some kind of panic, who knows how low oil or anything else can go? You know as well as I do that you have hysteria or a panic, things go to crazy prices. But oil, other than the panic, is making a complicated bottom. Capacity is coming out of oil especially in America. We are seeing the bottom for oil.
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.
We will all have to pay the price of mistakes.
The world is going to have problems. In America that used to be the main market, it has not got a serious stock market set back in the past 6-7 years. That is very unusual. Normally, market corrects 15-20 per cent every year or so. We haven’t had corrections like that because of the artificial money printing by the central bank. We are going to have a big problem next time we have a setback and it is coming in 2016-2017.
What I have done is I’m short in the U.S. stock market – the nine or ten stocks that never go down – Amazon, Netflix…those things. I am short junk bonds in the U.S.,
I am long in China – mainly because I have to be long somewhere.
So I’m short junk bonds, I’m short the U.S. stock market, I own a lot of U.S. dollars for the reasons I mentioned. That’s mainly where my money is. But who knows if I’ve got it right. I own some other stocks too that I’ve owned for decades.
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.
When the next turmoil comes, they’re all going to print money to save us, they’re going to get calls from all over the world saying civilization is coming to an end, and you must save us. There comes a time when nobody’s going to pay attention. That’s what I expect to happen.
They’re going to try something new next time around, and it’s not going to work. I mean they work for a while, but it’s not going to work. And then, they’re all going to do their best, but their best is going to lead to ruination because the rest of us are going to say ‘we don’t want your garbage any more, we don’t want to place this game any more.
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.
