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Old 05-25-2008, 12:29 AM
 
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,087,981 times
Reputation: 1716

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Quote:
Originally Posted by UKOK View Post
Famed investor Jim Rogers (and my personal favourite) has been saying much the same thing:

Jim Rogers: 'It's going to be much worse' - Jan. 31, 2008
Jim Rogers is the man. Warren Buffet so far behind him it ridiculous. I have no idea why people put Buffet's word above Roger's.

Look I don't know if we will get to a depression level or not. I personally doubt it. But even still if you put your hedges right then you shouldn't be the worse for wear. Plus there will be bargains everywhere if you got the cash to pay for it. I do honestly see some people out there making a tons of money buying at the darkest hour.
Yeah guys in the shortterm I think things will suck eggs for awhile but life will go on and things will eventually turn for the better. So basically I guess stick to the old adage "Prepare for the worse, but hope for the best."
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Old 05-26-2008, 04:04 PM
 
Location: Los Angeles, Ca
2,884 posts, read 5,525,462 times
Reputation: 2758
The financial media is awfully stupid in this country. Buffett has said himself many times, that he isn't in the business of predicting the economy. He's a capital allocator and buys businesses. If these reporters would read a little bit, they'd know that he doesn't buy Coke or The Washington Post based on macro economic factors (like if you bought a farm or apartment building...if you found a good deal, you wouldn't trade in and out of them based on what the FED just did or a change in GDP).

These reporters, I guess, use Buffett as a shortcut. "The richest man in the world...well, he must know something about the economy". But he's not necessarily an expert.

Jim Rogers is definitely the man. He tells you the truth. His books and interviews basically tell you how the economy really works.

In Investment Biker, he tells you pretty much in a few sentences, a few paragraphs, that the US economy's "prosperity" is one little blip on the radar, in the grand scheme of things. Jim is a student of history. I dont know about recession/depression, but things will revert back to the mean. One of the reasons why I'm not invested in stocks.
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Old 05-27-2008, 12:57 AM
 
Location: Los Angeles, Ca
2,884 posts, read 5,525,462 times
Reputation: 2758
Not to harp on it, but this "story" is so dumbed down and uniformed. This is passing for "news" in this day and age? The equivilant of baby food or nursery rhyme. If there is a severe recession/depression, don't count on the news to tell you about it...

Here's the first part of the story..

******

"Buffett sees "long, deep" U.S. recession Sat May 24, 7:30 AM ET

The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday.

He said the United States was "already in recession" and added: "Perhaps not in the sense that economists would define it" with two consecutive quarters of negative growth.

"But the people are already feeling the effects," said Buffett, the world's richest man. "It will be deeper and last longer than many think."

******

-They kindly omit the fact that Buffett himself has said many times he's not in the business of forecasting economic results. Why are they asking him then? Thats never answered.

They imply it by saying "US investor" and "worlds richest man". To the layman, they'd think, well, an investor and the worlds richest man. He must know something about the economy. But there's not necessarily a correlation between the two.

Then this part...

******

"But he said that won't stop him from investing in selected companies and said he remained interested in well-managed German family-owned companies.

"If the world were falling apart I'd still invest in companies," he said."

******

He's always said that. This isn't a new revelation in the last few months. The media always acts like it's a profound revelation, that he'll still buy companies even with a rocky economy.

Then it's always the "offical people" that get quoted. No one elses viewpoint seems to matter. "Perhaps not in the sense that economists would define it".

There's 300 million people in the country. There may be, what 50,000-100,000 economists? The man on the street is never interviewed. The part time workers are never interviewed.

It's all offical Orwellian speak. Even twisting "the worlds richest man" into an economist, which isn't his expertise.

And while you read it, the truth is happening outside.
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Old 05-27-2008, 05:46 AM
 
3,269 posts, read 9,418,689 times
Reputation: 2021
Quote:
Originally Posted by John23 View Post
Jim Rogers is definitely the man. He tells you the truth. His books and interviews basically tell you how the economy really works.

In Investment Biker, he tells you pretty much in a few sentences, a few paragraphs, that the US economy's "prosperity" is one little blip on the radar, in the grand scheme of things. Jim is a student of history. I dont know about recession/depression, but things will revert back to the mean. One of the reasons why I'm not invested in stocks.
You should read his new book "A Bull in China" if you haven't already. Very interesting reading.
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Old 05-27-2008, 07:14 AM
 
3,283 posts, read 4,927,703 times
Reputation: 753
Quote:
Originally Posted by UKOK View Post
Famed investor Jim Rogers (and my personal favourite) has been saying much the same thing:

Jim Rogers: 'It's going to be much worse' - Jan. 31, 2008

yet YOU continue to contribute to the out of control balance of trade, by unnecessarily consuming more imported oil in your suv.
i think jim rogers, marc faber, david tice et al would probably say that i've got a point!
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Old 05-27-2008, 03:34 PM
 
Location: Los Angeles, Ca
2,884 posts, read 5,525,462 times
Reputation: 2758
Quote:
Originally Posted by UKOK View Post
You should read his new book "A Bull in China" if you haven't already. Very interesting reading.
Yeah, I like to keep up with his books. I've read Investment Biker, Adventure Capitalist, Hot Commodities and Bull in China.

I think he's right on his China concept (that the 21st century will belong to China). I haven't invested there though, way outside my competence level. But maybe in the future.

And also to keep up with his views, there are alot of interviews of him on google news, in the archive. And lots of youtube clips of interviews in the last year. And he has alot of articles on his website, jimrogers.com
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