Jim Rogers was last week’s guest on Porter Stansberry’s usually excellent podcast Stansberry Radio. I am throwing in the “usually” qualifier because this was, in my opinion, a poor interview by Porter (who is normally good)…I thought he spoke way too much and didn’t let Jim get enough in.
Regardless, it’s worth a listen – Jim comes on at the 20:20 mark:
Waiting on Gold, For Now
Rogers said he is not yet buying more gold – instead preferring to stay on the sideline in hopes of a deeper correction (mentioning $1100 and $1200 as potential (hopeful) buy points).
Still Bullish on Russia
He also reiterated his bullish stance on Russia, citing Putin as a “reformed thug” of sorts, or at least one who is content to hide his thuggery in lieu of the best economic interests of the country. Rogers historically is a fan of investing in countries that go from bad to less bad, and it seems like Russia is one of his current candidates for “most improved headcases.”
And is Intrigued by “The Natty”
Stansberry and Rogers had a good back-and-forth about natural gas (though I would have liked to hear more from our boy himself). Both are somewhat bullish on natural gas, with Porter preferring select producers, and Rogers being more inclined to invest in the commodity itself (as is his usual preference).
Taking the “long view” on natural gas, we see it’s been in a stealth bull market for the past year, very quietly doubling off its lows all the way down at the two-handle. While neither Stansberry nor Rogers expect nat gas to return to double-digits, both seem to believe there is more upside to prices than downside at these levels.
The Natty’s “Jim Rogers Approved” stealth rally. (via BarChart.com)