Jim Rogers Calls Paulson's Plan `Welfare for the Rich'

Jim Rogers Calls Paulson's Plan `Welfare for the Rich'

Sept. 25 (Bloomberg) -- Jim Rogers, chairman of Singapore-based Rogers Holdings, talks with Bloomberg's Betty Liu about Treasury Secretary Henry Paulson's $700 billion plan to remove illiquid assets from the banking system, his investment strategy in Chinese equities, and the position of the presidential candidates regarding the turmoil in the financial markets. (Source: Bloomberg) 00:00 Bailout is "welfare for the rich," outlook
01:59 Alternatives: "let some people go bankrupt"
03:36 Strategy: Chinese equities, overseas airlines
05:02 Buffett's stake in Goldman; outlook for oil
06:56 Presidential candidates: "embarrassing"

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.19dE1GSk5s

mms://media2.bloomberg.com/cache/vbGb5KNYrBKo.asf

26/09/2008
tjhinkh:
Cover Home Builder, Banks, Fannie Mae, Freddie Mac.
Still short investment banks.
Just bought the following last week:
Chinese Shares, Airlines (outside US), Japanese Yen, Swiss Frank
Maybe he sold his USD assest and bought the above.

Warren Buffet buy Goldman because he got a good price for it. Jim would have bought it too for that price. (What is the price Buffet got?)
Maket will rebound after Hank Paulson rescued Wall Street. People will make money for a few years.
I got the perception that this is the market bottom.

13/10/2008

Jim has not liquidated his USD assest as I suspect that he would.