Wednesday, December 17, 2014
JIM ROGERS GOT PROVEN STUPID IN JUST 3 WEEKS: here's how!
Y'know, I do like Jim Rogers, Hot Commodities was a good book, he does have his own commodity index and you & I don't, but boy has that guy been taken to the woodshed and beaten like a red-headed stepchild.
On November 25th we all got to read this:
FT Alphaville - Jim Rogers' contrarian view on Russia.
A hilarious read, in retrospect.
And then the same day he appeared on Bloomberg:
Where he notes that he was invested, among other things, in the Micex via "an ETF".
Gee, I hope it's not this one:
So hey, I still like the guy, he's educated me a lot about commodities and I do respect his experience.
But boy he really looked like a fool on this one. And reading Putin's Kleptocracy* has made me aware of how fucking clueless Jim was about the political/economic situation on the ground.
Even if you like someone, remember that they are very likely to screw up big-time.
* - Putin's Kleptocracy reads like an indictment. By that, I mean it's just a long footnoted list of associations and events with no narrative structure. I appreciate the book being written, but it's not worth buying to read unless you happen to work for Interpol.