Written by Steve Meyers
Jim Rogers, chairman of Rogers Holdings, talks about his investment strategy. from Singapore with Susan Li on Bloomberg Television's "First Up" on Monday 29 Nov. Rogers also comments on Europe's sovereign debt crisis, Federal Reserve monetary policy and the U.S. economy.
Rogers says he does not pay too much attention to the rating agencies upgrades and downgrades as their track record has left him with very little confidence. Markets may rally on certain short-term fixes or good news, but until some resolution comes to the mountainous sovereign debt, no rally will last.
He also commented that QE3 is already underway if you look at the huge jump up of M2 money supply since August (see chart below). In Rogers words, "they are buying something." He also thinks the world could be better off without the central banks money printing press.
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