Stocks are simple. All you do is buy shares in a great business for less than the business is intrinsically worth, with management of the highest integrity and ability. Then you own those shares forever. I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.

May 16, 2009

Rogers - Nine weeks for a correction

The dollar’s rally is set to end in a “currency crisis,” legendary investor Jim Rogers told Bloomberg yesteray, adding that he may bet on a slide in equities after nine weeks of gains. He said “We’re going to have a currency crisis, probably this fall or the fall of 2010,It’s been building up for a long time. We’ve had a huge rally in the dollar, an artificial rally in the dollar, so it’s time for a currency crisis.” The dollar has climbed against all of the so-called Group of 10 currencies except the yen over the past year , The U.S. currency was at $1.3592 per euro today from $1.3582. Rogers said, that He’s avoiding The Dollar and equities for the next two to three years because prospects haven’t changed,“The market in the U.S. went up very powerfully for nine weeks in a row so of course it’s time for a correction,” Rogers said . Rogers owns some Chinese and Japanese stocks, and also continues to hold some shares of airlines, he said without naming any companies. Stocks in commodities economies such as Canada and Brazil may also perform better than U.S. shares, Rogers added.

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