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Investment Guru Jim Rogers Says Commodities are the ‘Place to Be’ Despite Their Decline
Commodity prices have plunged from the record highs they hit earlier this year, but in a recent interview with Bloomberg, investing guru Jim Rogers said he is still bullish on commodities, which he expects to take off as soon as the clouds of the global recession lift.
The Reuters/Jefferies CRB Index of 19 commodities has fallen more than 54% from its July peak and is now at its lowest level in six years. Oil spearheaded the decline, with light, sweet crude for January delivery dropping $2.36, or 5.4%, to settle at $41.31 a barrel on the New York Mercantile Exchange…
8Dec2008 | Money Morning | 0 comments | ContinuedJim Rogers: Commodities only unimpaired asset class
Bloomberg
Nigel Stevenson and Brett Foley
The fundamentals of commodities are “unimpaired” and prices will rebound when a lack of new supply leads to shortages, said Jim Rogers, chairman of Rogers Holdings.
“Commodities will be the place to be if and when we come out of” the downturn, Rogers said yesterday in an interview from Miami. “The only thing where fundamentals are unimpaired are commodities. Farmers cannot get loans for fertilizer now. Nobody can get a loan to open a zinc mine. So we are going to have some serious, serious supply problems before too much longer.”
The Reuters/Jefferies CRB Index of 19…
8Dec2008 | The Real Deal | 0 comments | Continued
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