Jim Rogers Is Now Shorting A Major Western Financial Firm That Everyone Thinks Is Sou

Quote from Misthos:

He was right about Citi back in 2007/2008. At $30+ he said it was a $5 stock.

He was one of the first to say that all the big banks were effectively insolvent.
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Cramer is right about half the time as well. He is also, just talking.

Rogers also claimed to have been short US Treasuries, very short, right before they went on a tear. He later claimed that he never took a position.

I do not disagree even with his view that US Treasuries are essentially junk paper, but it's another thing to take a position that can very well move against and stay against you.

And he was not one of the first to say that the banks were insolvent. He was one of the first to start talking about it in Mass Media.
 
What does Rogers gain by passing these gems of wisdom to the general public?

Loved his books, but it is just more disinformation, IMO.
 
I think he thinks its pretty cool be to a big contrarian.
Plus, I am sure it helps his businesses and his positions.
Not to mention book sales.
 
Quote from loza:
----Which major financial institution might he be shorting?
----He describes it as a bank which people think is 'extremely sound', but which could be taken down by currency problems.
----Any guesses?
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All financial institutions can be described that way. :confused: :eek: :D
 
Quote from loza:

Provided by the Business Insider, May 6, 2010:

In an interview with India's Economic Times, Jim Rogers reveals an intensely bearish attitude on stocks, and even drops a bit of a mystery:

He says: "I am shorting a stock market index in the US, I am shorting an emerging market index and I am shorting one of the large western international financial institutions."

"It is an emerging market index; it is not a specific country. It is an index of many emerging markets and that is mainly because the emerging markets have grown more than most things here during this big recovery. So that is where some of the excesses are developing."

Which major financial institution might he be shorting?

He describes it as a bank which people think is 'extremely sound', but which could be taken down by currency problems.

So, who is it? Citigroup (C) JPMorgan (JPM)? Goldman Sachs (GS)?

Any guesses?
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JPM. Take a closer look at their swap exposure.
 
Quote from Illum:

He is the man. I know there are doubts, but he comes out and says it, and the market proves him Right.
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Ditto. And last year, he admitted he shorted bonds too early and took the loss.
 
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