Legendary investor Jim Rogers appeared on CNBC Friday, and talked about a number of topics, including what he’s doing with his money right now. The CEO of Rogers Holdings said:

Well, I have an enormous amount of cash, and I’ve been using it to buy more Japanese yen, more Swiss francs, more agricultural products, and, there’s a liquidation phase going on… where everything is being liquidated. I bought agriculture last week and it’s down this week. You know, they’re selling everything in sight. I’ve covered some shorts, I’ve covered a few shorts here today. That’s what I’m doing with my money now.

Swiss francs

The Singapore-based investor, who correctly called the beginning of the latest commodities boom back in 1999, also discussed investments that perform well during a recovery. Rogers told CNBC viewers:

I’m not sure I want to buy equities when the market caves in. I don’t think equities are going to come out of this on top. Normally when you have a panic, the way you make money is you buy the things where the fundamentals have been unimpaired, and they will lead the market coming out. Most equities, I mean Morgan Stanley, isn’t coming out of this unimpaired. So, I’m buying commodities. Commodities are the only thing I know that are coming out of this unimpaired where supply and demand are still terribly out of balance. And the Japanese yen. And the Swiss franc.

You can view the 6 minute 49 second segment here.

Source:

Jim Rogers Interview
CNBC, October 10, 2008

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