Quote from WallStWhizKid:
http://finance.yahoo.com/tech-ticke...ers-S&P-Could-Go-to-50000?tickers=dia,spy,xlf
From The Business Insider, June 3, 2009:
Ahh, Jim Rogers, always good for a nice headline (see: above). In an interview with the Economic Times of India, the famously dramatic and bearish investor, hits on all his favorite themes, like the collapse of the West, the appeal of commodities and farmland, and of course inflation and the collapse of the dollar.
While he's negative on US assets -- he says he's gotten rid of all of his dollars, for the most part -- he advises against shorting this market.
It's a bear market rally. I was going to say I don't think S&P 500 will see new highs. But I have to quickly temper that by saying against the dollar because the S&P 500 could triple from here if they print enough money and the value of the US dollar collapses, then
S&P could go to 50,000, Dow Jones can go to 1,00,000.
Which is one reason why I am not shorting stocks right now. Because there is a possibility of this sort of a thing. There is a possibility that stocks could go through unheard of levels, but would be in worthless currency.
And here's his advice to would-be money managers:
Become a farmer. ...
Sounding very much like Marc Faber, also an advocate of farming, who recently said he's 100%(!) sure that the US will experience Zimbabwe-like hyperinflation.
