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JIM ROGERS’ TAKE ON GOLD

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April 13, 2012 – Comments (11) | RELATED TICKERS: GLD , CEF

Gold is about to have its first down year in over a decade.

At least that’s what legendary investor and billionaire Jim Rogers suggests. Rogers is considered one of the best commodity investors in the world. He was buying gold before 1999 – when prices were below $300 an ounce. Today, gold prices are over $1,600 an ounce.

As he told me this week, he thinks it’s due for a break. So is he selling here?

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11 Comments – Post Your Own

#1) On April 13, 2012 at 12:32 PM, dragonLZ (99.67) wrote:

I have a strong suspicion Jim Rogers is following my blog.

I said in Dec. of 2011 that gold will most likely see $1350 in 2012. 

p.s.

Right now, I'm trying to determine if it's going to see $900...not ready to make any calls yet...

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#2) On April 13, 2012 at 1:03 PM, Valyooo (99.64) wrote:

Of course he is following your blog, how else would he know which direction to take on gold? ;)

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#3) On April 13, 2012 at 1:04 PM, Valyooo (99.64) wrote:

In before "obviously jim rogers is being paid off by the FED" and "jim rogers was a good investor in the past but he has clearly lost his mind" etc.  Like, you know, when all other good investors dont like PM's ;)

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#4) On April 13, 2012 at 2:34 PM, dragonLZ (99.67) wrote:

Re: #3)

No Valyooo, its' actually "What Jim Rogers thinks is irrelevant", or "NO WAY gold can ever go down - it's been up for 12 years now".

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#5) On April 13, 2012 at 2:43 PM, dragonLZ (99.67) wrote:

Of course he is following your blog, how else would he know which direction to take on gold? ;)

What, you don't believe me?

And just FYI, he's not the only one? For example, I said BAC at $12 is a good buy, few months later Buffett comes out (all of a sudden) saying he's investing in BAC at $7. Where was he before I mentioned BAC?

Or how about this one: A couple of months ago, I wrote a blog I'm very bullish on the stock market, now I read Ken Fisher said this will be a good year for stocks.

Just a coincidence? I don't think so. 

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#6) On April 13, 2012 at 3:07 PM, Valyooo (99.64) wrote:

I gotta be honest, I never heard of Warrant Bufford before you mentioned him.

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#7) On April 13, 2012 at 3:14 PM, Frankydontfailme (27.22) wrote:

BAC at 12?

900 lol.

And how's Jim Rogers calls been the last couple of years? Off the top of my head - buy agricultural commodities 2011, sell "American Technology" in late 2011, and buy Euros.

I actually like the guy, but come on, he's been awful recently.

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#8) On April 13, 2012 at 4:35 PM, dragonLZ (99.67) wrote:

I gotta be honest, I never heard of Warrant Bufford before you mentioned him.

It's not Warren Bufford, it's Warren Buffett. Haven't you ever heard of him? He's the guy who owns H&R Block.

Other than doing other people's taxes, he's also a very successful investor. He started with nothing and is now worth millions.

If you want to make money in the market, I'd say you should at least learn a little bit about Warren.

You've even probably heard some of his quotes, you just didn't know they were his.

Like: "Buy low, sell high" (he made a killing trading stocks this way), and "Be fearful when others are greedy" (this way he avoided buying a house during the housing boom of 2004-2007  and investing in GM in 2008 - which saved him a bunch of money on car insurance. Btw., with that saved money he later started Geico which is now #2 insurance company in US). 

The guy is really good, I'm telling you.

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#9) On April 13, 2012 at 7:50 PM, awallejr (82.76) wrote:

 Where was he before I mentioned BAC?

Saving $5 a share?

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#10) On April 17, 2012 at 8:10 AM, Noneleft01 (< 20) wrote:

"Buy low, sell high".  This is simply what every market trader, business person and entreprenuer has been doing for thousands of years.  The whole concept of business and commerce is based on it.  I hardly think it's a new and groundbreaking concept, and I seriously doubt Buffet was the first person to ever say those words in that order.  I mean, did anyone ever set out to buy high and sell low?  Maybe if Buffet had told us HOW he buys low and sells high (what, when and why), that would be something to take notice of.

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#11) On April 19, 2012 at 11:58 AM, FleaBagger (29.42) wrote:

Warrant Bufford started with the 1950's equivalent of millions of today's dollars - it's beyond misleading to say he started out with nothing. He went from born rich to geriatric megarich.

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