Monday, January 4, 2016

Jim Rogers thinks US dollar will get stronger during market turmoil

My largest currency position on the long side has been in the US Dollar for the last 2 - 3 years. The US is terribly over-indebted country with the largest debt in the history of the world. The US dollar is not sound. But with a lot of turmoil coming, people think US dollar is a safe haven. What I expect to happen is that turmoil will get worst and the dollar will go higher—it is already over-priced—and may turn into a bubble. My plan is to then sell US dollar. 

What I will buy, I don’t know—gold or the Chinese renminbi, if it might be convertible by then—who knows. 

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.