Legendary investor Jim Rogers has been bullish on commodities since 1999. He started out bullish on oil and metals and to a certain extent on soft commodities like orange juice, coffee and grains.
Here’s a great 10 minute video on his current economic views and what he’s investing in right now.
As always, he calls Ben Bernanke a clueless moron and has a great explanation for why lowering the interest rates is bad for the US economy. That’s always entertaining.
He thinks we might fall into the same trap as Japan and see 17 years of stagnant GDP. That’s downright depressing.
Even though the markets were down today, my stock portfolio was up 3%. This was mainly because I’m heavily weighted in Oil and Gas Canroys and they were all buoyed today on news of a major takeover. Abu Dhabi’s state-owned utility company, National Energy agreed to buy out PrimeWest Energy(PWI) in a deal worth $5 Billion. PWI was up 30% on the news and all other canroys were up around 5% as well.
Most people think that since Gold was in a bear market for nearly 2 decades (between 1981 and 2000), its a poor investment. They also claim that its speculative, you can’t leverage it, and its highly illiquid. But none of these are really true.
In January 2000, Gold was trading at less than $300/oz. Today its at nearly $700/oz! Its been in a stealth bull market and not a lot of people have been talking about it.
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