Well-known and often a bit rash, Jim Rogers is out bashing many things tonight and he made a brief remote appearance with Larry Kudlow on CNBC on Monday evening. Among them, he said he will not and would not buy Facebook stock. He said that the stock will be way too expensive at 15 times (or 20 times) next year’s sales estimates and that he cannot make money very often in stocks like that.
Then Mr. Rogers went on to bash the U.S. dollar on a long-term basis. He noted he has bought the dollar of late because no one else knows where to go nor what to invest in when there are this many problems out there in the world. His view is based upon the long-term printing money and the deficits that are coming along with it and the future inflations.
Frankly, Jim Rogers’ position offered nothing new. He has been very bearish on the long-term prospects of America’s dollar because of overly high debt and the growth of our debt. He said the only real difference between Romney and Obama is that they are from different cities.
Nothing new was really said tonight, but don’t tell that to the traders that just read every single headline as if it is the first time it was ever printed.
Top Gaining Stocks
Top Losing Stocks