Sunday, July 17, 2011

Why Jim Rogers is Long The Euro

Jim Rogers : " Obviously the Euro is under pressure right now , The European Union is being tested I suspect that they are going to pass the test and I suspect the Euro is going to survive , at least this time around whether it will be around in ten years or not I do not know , but ir really does not matter I am worried about the next ten days " Jim Rogers says that he will not short any french banks at this time " they are down , they are down too much , I do not like to shorting things that are down I like shorting things that are up , and the bigger American bank that I shorted was near its all time high so I shorted it , but I have other shorts as well " " My portfolio basically is , I am long currencies and commodities and I am short Emerging Markets and Technology stocks , I am short a big American bank and I am short the American government bonds that's essentially where I am investing these days , now in currency turmoil you have many things go down , Gold because it happen to be going up at least it were before I came to this room , so that's how I am doing all this , the moment the shorts are going down which is useful " - in Reuters (13/7/11)

Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).