Jim Rogers Says Markets May Go `A Lot Further Down'

Jim Rogers Says Markets May Go `A Lot Further Down': Video
Nov. 3 (Bloomberg) -- Jim Rogers, chairman of Rogers Holdings, talks with Bloomberg's Betty Liu in New York about the U.S. government's rescue of troubled banks, the outlook for U.S. stocks and investment strategy. NewEdge-Cube Division's Mark Hawkinson also speaks.

00:00 Need to allow U.S. banks to fail; Japan
04:02 "Close" Fed and "crisis takes care of itself"
05:54 Strategy; gold; "more problems" for markets
08:34 Investing in oil, agriculture; Treasuries
11:23 Picks: China, agriculture, non-U.S. airlines
12:21 "My plan is to get out of the dollar..."
Running time 13:06

Last Updated: November 3, 2008 10:51 EST

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04/11/2008
tjhinkh:
During bad economic times, good companies will try to expand and increase market share while the bad ones go bankrupt.
Jim thinks that this is an old fashioned selling climax. Athough it is a bottom, question remains if it is THE bottom. There may be problem next year or maybe in 2010. Jim is expecting more down from here as the people in Washington do not knwo economics.
There was a broker who thought that there are more dowside to come. This is good -> meaning, when people are still bearish and the market going up that is a good sign.
In 1920's stock rallied from 70 to near 400. And then in 1929, it crashes to 200 (50%) in three months. It the rallied 50% to 300 in five months before going down and down again for three years back to 42.
IMF is going to sell gold and Jim is going to buy gold if it goes to 600 and if it goes to 900 he is going to buy alot too.
Jim buying oil today because the forward futures for oil is 40% premium. He is also buying agriculture and short long term government bonds.
Buying non US airlines, Lufhansa, Iberia, Korean Air, Singapore Air, Japan Airline, SAS.
Plan to get out of US dollar in the next few months. The dollar rally has surprised him. It went up so high so quickly because there are so much US dollar short.