Jim Rogers on Markets and Bailouts
By Barry Ritholtz - December 1st, 2008, 6:22PM
Part I
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Part II
Part III
Part IV
November 16, 2008
"My formula for success is rise early, work late and strike oil." —John Paul Getty
Macro Notes
Consumer Credit continues downward trendPeter Boockvar
Consumer Credit outstanding fell $14.8b in Sept seasonally adjusted, almost $5b more than expected and marks the 11th month in the past 12 of declines. At $2.456T outstanding, it is 4.9% below the record high in July '08. After a flat reading in Aug, (didn't fall b/c of the CARS program), non revolving debt outstanding fell by $4.9B. Revolving (mostly credit cards) balances outstanding fell by $9.9B. To fully put into perspective today's data, look at the current level of consumer credit (doesn't include mortgages, the biggest chunk of consumer credit) relative to GDP. As of Q3, it totaled 17.2%...
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December 1st, 2008 at 7:01 pm
Anyone else think Jim’s forehead looks like a horseshoe crab?
December 1st, 2008 at 7:45 pm
No I didnt notice the horseshoe crab forehead but I noticed his tie matches his face color. Maybe that tie is on a bit too tight.
December 2nd, 2008 at 7:14 am
But Jim is lead by his ego…as so many successful investors are. If you notice he says he has not sold one share of his China stocks, ditto his investments in commodities…that means this year he’s taken a huge bath, when all he had to do was sell, then buy back at a much better price…
Smart man, but let his investments be dictated by his ego..
A better idea is to always pretend you are investing for your momma….then what do you do??