Jim Rogers is going on record on every financial channel to tell people that he's short the long bond. He actually mentions he went short on the 10th of June. As for the close on Friday, he's already facing a 10% MTM loss (if not levered).
As you know, Jim Rogers is a notable hyper-inflationist — one of the extremely clever investors with Marc Faber, that I highly respect — and he might be proven wrong this time.
I'm very very curious to find out what will happen tomorrow in the markets, now that S&P has officially downgraded the US paper.
2 comments:
Pej, do you read FOFOA?
@Dave: I don't know what it is, so I'm probably not reading it. What's FOFOA?
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