I happen to have similar positions at the moment, though unlike Rogers, I’m a bear on commodities and China, which he seems to be perpetually long. Here’s today’s Bloomberg interview.
Take-aways:
- Long euro as a contrary position. Too many shorts out there.
- All these countries (Spain, Portugal, UK, US) are spending money they don’t have and it will continue.
- ECB buying government and private debt is wrong.
- EU is ignoring its own rules about bailouts from Maastricht Treaty.
- Governments are still trying to solve a problem of too much debt with more debt.
- Fundamentals are bad for all paper currencies. Good for gold.
- Is “contagion” limited now? Well, for those who get the money…
Here’s a longer interview from a few days ago on the same topics as well as stocks:
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- Rogers has a few stock shorts: emerging market index, NASDAQ stocks, and a large international financial institution.
- Rogers owns both silver and gold, but is not buying any more. He’s not buying anything here, “just watching.”
- Optimistic about Chinese currency. Expected it to rise more and faster, but still bullish.
- Thinking of adding shorts in next week or two if markets rally (my note: they have now).
- “Debts are so staggering, we’re all going to get hit with the problem,” no longer just our children and grandchildren.
