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Rogers: Goldman May Fuel 20 Percent Market Tumble



April 19, 2010 – Comments (2) | RELATED TICKERS: GS

Billionaire investor Jim Rogers says the SEC allegations against Goldman Sachs could act as the catalyst end markets downward regardless of the outcome of the charges.

"Markets are overdue for a correction," says Rogers, chairman of Rogers Holdings.

"When the markets are ready for a correction, something will come along ... the straw that breaks the camel's back," he told CNBC.

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2 Comments – Post Your Own

#1) On April 21, 2010 at 3:35 AM, chevionUSA (< 20) wrote:

I've had my money in a 2 very diverse mutal funds (prudential securities PTMAX and vanguard). In more than 15 years these mutual funds did nothing for me and the very little increase was upset by fees and such.

I have 2 points to make:

1) Even if people tell you stocks is the long term way to go, don't listen to them.

2) Since 1980s stocks has become a gambling game and now even more so with the ease that uneducated/uninformed people can "invest" with 5 bucks a trade. Who wins? Insiders and guys with big money.

I read a report that basically said Goldmansachs sat down with BIG shot investors and created these Phony tools ( short-selling options and do on) to accommodate these slected investors with big money. I can imagine the conversation going kindda like this:

GS agent: Hello Sir, You are one of out biggest clients with 2 billion in assets, how can we make you happy?

The billionare guy: I like to bet that housing will crash and I like you to create such bet so I can make my bet and win.

GS agent: No problem Sir. We buy these swaps so you can short them if you like. Just to cover our behind a little we will "invest" in those bets too.

GS agent & billionare guy:  hahahahaha I guess those small players are suckers and will lose all their money. Those suckers (teachers, workers, small business men, and so on) have no place to be in stock market anyways. This will teach them a lesson!!!!

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#2) On April 21, 2010 at 3:38 AM, chevionUSA (< 20) wrote:

ugh...soooooo sorry for my spelling mistakes.

do on= so on

out= our

and i bet there are evenmore mistakes.


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