Rogers pronounced that "America is in a recession and the world is in a recession." He also placed much of the blame for the current U.S. crisis on former Federal Reserve Chairman Alan Greenspan, and said Greenspan's successor Ben Bernanke "doesn't know anything about markets...he doesn't know anything about anything except printing money."
Rogers said he's putting his money into airline stocks, Swiss francs, Japanese yen and agriculture stocks as long-term plays while shorting U.S. government long bonds.
He favours airline stocks because he believes demand for air travel as a global essential service industry will make a comeback once the airline sector emerges leaner and stronger from the current downturn.
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2 comments:
if the economy is in recession , airline business will also fall
what logic is this?
You totally misunderstand what Jim Rogers Mean, he means he expected every investors will think economy will be so worst that they will depress airlines stock value until so cheap that after holding 5 years you can get a few hundred percent of profit. Those airlines that surive recession will prove to has good management. They can even do better in boom time.Recession cannot last forever right?
You are thinking as herd investor. Must think more longer. As long as no one want it, the future still look great you can buy it.
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