Thursday, February 5, 2009
Rogers Says Russia May Break Up, Mulls Bet Against Ruble
Back on January 22, Jim Rogers said he was going to short the British Pound (see blog post here) because it was going to disappear. The pound had already fallen to multi-decade lows against the dollar and record lows against the euro, but Rogers advised selling.
After hearing that I did what any self-respecting speculator should do: fade a guy who's cold as ice.
I bought the pound against the euro and on that day and I have been cleaning up ever since.
Last September Rogers advised shorting the dollar and shorting U.S. Treasuries. These assets have been the strongest performing assets in the world since then.
Let's face it, Rogers is as cold as death. Merely fading his calls now will earn you a ton of money. You don't have to watch TV or read economic journals or listen to what's going on in Washington. Just do the opposite of Jim Rogers.
His latest "recommendation" appears today on the Bloomberg website. In a video Rogers says that "Russia will break up and he is thinking about shorting the ruble."
We're in luck! There's actually a ruble futures contract traded on the Chicago Mercantile Exchange. So I think I'm gonna go make some more easy money and buy the ruble!
I used to wonder why anyone would listen to this guy. Now I know: He makes making money easy and fun!
Go make some money today...Fade Jim Rogers!
Watch the video here.