Legendary investor Jim Rogers talked with Bloomberg’s Carol Massar yesterday about the outlook for the U.S. dollar, as well as his investment strategy and the commodity markets. Notable excerpts from the interview included:

I’m using this rally to get out of the rest of my U.S. dollars. I mean, the dollar is a terribly flawed currency, Carol. I hate to say it, we’re all Americans, but my goodness, they’ve messed up the dollar badly. So, I don’t like to do it, but I’m going to sell all the rest of my dollars sometime in the next few days, weeks, or months…

The dollar in our lifetimes is terribly flawed, maybe even a doomed, currency…

Again, I don’t like saying it, but I’m afraid the dollar is going to go the way the pound sterling went.

When asked by Bloomberg what he is buying at this point, the CEO of Rogers Holdings replied:

Yen, commodities, Chinese shares, Taiwan shares. I mean, these are the places that I see… what you do, Carol, in times like these, is you buy things where the fundamentals have been unimpaired. The fundamentals for Citibank are impaired. The fundamentals for General Motors are impaired. The only thing I know where the fundamentals are not impaired are commodities. In fact, fundamentals for commodities are improved by what’s happening. They’re getting better, not worse. Prices are down, so that’s a bullish opportunity…

Of course I’m worried about the economy, but supply is going down faster than demand.

You can view the 2 minute 49 second Bloomberg segment here.

Source:

Jim Rogers Interview
Bloomberg, December 16, 2008

Forex Platform - Get up to $500 Free Bonus; $10,000 Monthly Championships!

This post is filed under Commodities, Currencies, Emerging Markets, Jim Rogers, Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.