Jim Rogers saw it coming
-
Crash 2008 Part 1 (click for link )
Crash 2008 Part 2 (click for link )
Crash 2008 Part 3 (click for link ) Prediction for 2008 in this video
His advice on jan 2008 - buy lots of puts on London and New York financial community
Dow on Jan 08 12800, Today Dow is 8200
Jim Rogers, a former partner of George Soros in the famed Quantum Fund.
The fund manager, who has traveled extensively in emerging markets and lives part of the year in Asia, says sovereign wealth funds in Abu Dhabi and Singapore that recently made large investments in Citigroup and UBS AG (UBS, news, msgs) are likely to lose a lot of money on their ploys. "They're making a big mistake; these banks have many more problems still ahead. They should wait until these companies are really on the ropes a few years from now . . . and trading at $5 a share."
But aren't they supposed to be the smart money? Maybe not. "I know these people, and they have never given me the impression that they're smarter than anyone else," Rogers says. "They have gigantic amounts of money, but they've made a bad judgment in these cases."Source
http://articles.moneycentral.msn.com/Investing/SuperModels/StockMarketWinterIsMovingIn.aspx?page=1Stock price on Jan 16
Citi Group $3.79
BAC - Bank of America Corporation (NYSE) $7.53
Losses in Merril Lynch Investment (down 72%)
$3.6 billion USD/ $5.3 Billion SGD loss
Losses in Citi Group Convertibles (Estimated decline in valuation 60-80%)
(4.12 Billion - 5.5 Billion USD loss)/ (6.09 Billion - 8.14 Billion SGD Loss)
Compare that with the MM Lee take on Citi Group
Singapore's GIC may invest in more banks
Reuters, April 30
The Government of Singapore Investment Corp may invest in more banks in Europe and the United States if it gets the chance, adding to its stakes in beleaguered bank UBS and Citigroup, its chairman told Bloomberg TV.
"If there are other banks of the quality of the two that we bought into, with the promise and the capabilities and inherent capabilities to recover, we have got the liquidity to meet it, to make such an investment," Lee, 84, said in a Bloomberg Television interview late yesterday. "We will not rule it out."
"We are buying something that we intend to keep for the next two to three decades and grow with them", he said, adding that GIC was a long-term investor.After throwing in billions of dollars into credit-crunch battered financial institutions, Lee Kuan Yew is prepared to deploy more capital into this area. Ever confident about GIC's investments, the octogenarian further defended GIC's decisions:
"The franchise of the banks, the expertise that they have, under proper leadership, they will be able to recover and rise again ... Will there be another Swiss bank like UBS for wealth management? I doubt it, we doubt it, that is why we invested in it." Citigroup, he added, had "an enormous spread worldwide as a retail bank".
According to Lee Kuan Yew, UBS and Citigroup have "inherent capabilities to recover" from the credit crisis.
Just a few months after GIC's investments, recovery of the banking sector is far from sight. Instead, the banks are scrambling to raise more capital to deal with the damage the credit crunch has dealt them: -
why isn't Jim Rogers running temasek and gic?
-
why isn't Jim Rogers running temasek and gic?
-
because he is not form pap
-
Originally posted by Daddy!!:
why isn't Jim Rogers running temasek and gic?
Because he don't want to work with people that are not very smart.
I know these people, and they have never given me the impression that they're smarter than anyone else
or maybe the next answer might please you more
The pay will be too little for him. Pay peanuts and you get monkeys, and he's not a monkey.
-
> why isn't Jim Rogers running temasek and gic? Because Jim Rogers has a reputation to protect. It'll be crazy for him to be associated with losers.
-
Thats because he wants you to invest in commodities, of which he has a fund...and commodities performance last year was comparable to equities..in the sense that it nosedived...and he came out to ask ppl to buy more...and prices went down more.....
He is also famous for saying that he would rather sell options then buy them as 90% of options expire worthless....
The only thing he is famous for..if you guys noticed...is being George Soros' partner...everytime got article about him..they must state that.
-
Originally posted by kramnave:
Thats because he wants you to invest in commodities, of which he has a fund...and commodities performance last year was comparable to equities..in the sense that it nosedived...and he came out to ask ppl to buy more...and prices went down more.....
He is also famous for saying that he would rather sell options then buy them as 90% of options expire worthless....
The only thing he is famous for..if you guys noticed...is being George Soros' partner...everytime got article about him..they must state that.
Jim Rogers was right on the rise of Japanese Yen and collapse of the banks.
As for commodities, If you read his book , he did not ask people to buy commodities blindly. His book has already mentioned a correction of 50% on commodities is not uncommon. When he gave advice to buy commodities, he didnt ask investors to buy his fund. There are many Exchange Traded Funds (ETFs) that tracks the commodities index he created, which does not benefit him at all. Investors can buy into commodities easily without buying his funds.
If you watched the videos i posted or any other interviews he gave on television, was he introduced as the partner of George Soros?
-
,Subject: TEMASEK FIASCO......
wonder what the chairman of Tumasek is going to do about his malfunctioning ceo?
Temasek lost almost US$2 billion of a badly-timed US$3 billion in Shin Corp at a peak of 49.25 baht(Shin shares are now trading at around 15 baht) in 2006.
It's CEO, Ho Ching(nicknamed Ho Jinx by Singaporeans) committed S$401 million in ASX -listed ABC Learning Centres at near the peak price of A$7.30 and then averaged down at between A$1.20 and A$4.00, bringing it's commitment to over S$500 million. That investment is now essentially worthless although Temasek has yet to write it down.
The company also bought 19% of LSE- listed Standard Chartered in 2006 only to see the market value of that stake melt 55% by November 21st.
More fiascos include a 975 million pound stake in Barclays Bank bought at the peak of 740 pence(with a further 100 million to subscribe for a rights issue at 282 pence), which have now sunk over 70% at 138 pence.
Most heinous of all is its US$6.88 billion stake in Citigroup bought with a minimum conversion price of $31.34. Citigroup has since plunged 88% to $3.71, singlehandedly delivering S$9.11 billion of red ink to Temasek's books.
Overall, the paper loss on these investments has exceeded S$35 billion as of October 21st.
More Good Years To Come....????? -
well temasek has to balance its books right?
now we all know why it was so keen to sell the gencos? becoz at this time of the market, it is the only assets that could sell money.
temasek execs are just bunch of pro PAP fools.
even poh ah pak is better than them :)
-
Originally posted by Daddy!!:
why isn't Jim Rogers running temasek and gic?
The Singapore govt is clapping in glee that it has caught a big fish in Jim Rogers. But Mr Rogers is a clever 'Ang Mo'.
Singapore is just a stepping stone for him. The ultimate destinations and prizes are China and India. -
i am sorry, but i am missing something here....what is rogers value add to singapore?
-
Originally posted by redDUST:
i am sorry, but i am missing something here....what is rogers value add to singapore?
He is now a Singapore citizen.
I guess value nothing to Singapore...
It is the govt who blindly or unblindly value him ..... -
Originally posted by 4sg:
He is now a Singapore citizen.
I guess value nothing to Singapore...
It is the govt who blindly or unblindly value him ....-
-
if temasek is to cook its book, can anyone ever find out?
-
Originally posted by reyes:
if temasek is to cook its book, can anyone ever find out?
And the dish is called 'ho ho Chin Tng boh liao'..... -
if we follow what Jim rogers and Dr Doom( marc faber) advice, we should be looking investing in Commodities and agriculture play for 3-5 year horizon.
1. invest in aussie currency.
2. invest in Golden agri, Olam.