June 3rd, 2009Jim Rogers Predicts S&P 50,000 – In Worthless Currency
Jim Rogers, serial author of A Bull in China, Hot Commodities, and Adventure Capitalist, recently gave an entertaining interview with the Economic Times of India. Rogers is known for a being a market bear and his investment themes usually center on rising commodities and falling dollars. This interview was no different, and he remarked that the S&P could easily hit 50,000 and the Dow could hit 1,000,000 – but in terms of a useless currency he adds.
His humorous (not to him) advice to would be money managers is to do something real – “Become a farmer”.
If I am correct, the financial community is not going to be a great place to be in for the next 30 years. We have many periods in history when financial people were in charge, we had many periods when people who produced real goods were in charge — miners, farmers, etc.
The world, in my view, is changing and is shifting away from the financial types to producers of real goods, and this is going to last for several decades as it always has…
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Adventure Capitalist: The Ultimate Road Trip by Jim Rogers