Jim Rogers: Buying Commodities, Yen and Swiss Francs
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October 10th, 2008 by AdvisorAnalyst
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Jim Rogers appeared on CNBC this early this morning on Capital Connection on CNBC World Edition, and had the following to say, when he was asked what he’s doing with his money.
What are you doing with your money now?
“I have an enormous amount of cash and I’ve been using it to buy more Japanese Yen, more Swiss Francs, more agricultural products. We’re in a liquidation phase, you know. I bought agriculture last week and their down this week. They’re liquidating everything.”
“I’ve covered some shorts today [too] this morning, that’s what I’m doing with my money now.”
At what levels would you look to buy equities again?
“I’m not sure I want to buy equities now. Equities are not going to come out on top. The way you make money in a market like this is you buy the things that have been unimpaired, and they will lead the market coming out.”
“Morgan Stanley is not coming out of this unimpaired. I’m buying commodities, Commodities are the only thing I know that are coming out of this thing unimpaired where supply and demand are still terribly out of balance, and Yen and Swiss Francs.”
Read more from the author/contributor here.
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