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Why Jim Rogers Is Bearish on the U.S. and Facebook

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Posted by Jim Rogers

on Tuesday, 07 February 2012 08:25

Famed investor Jim Rogers has already said he wouldn’t buy Facebook when the social networking giant has its IPO later this week. “No, that kind of stock I don’t buy. They are usually very, very expensive. A lot of people like to buy expensive stocks like that, but I do not,” said Rogers to CNBC yesterday.

However, that Rogers seems bearish on the internet company shouldn’t necessarily drive one away from Facebook. Rogers is bearish on…well, just about everything in America these days.
“It has been demonstrated many, many times before that sellers are usually smarter than the buyers, and they usually know when the best time to sell is, and Facebook is doing it,” he said. Rogers also stated his general opposition to the high prices in the Tech sector, saying ”I am interested in technology in some shape or form, but I can’t imagine buying any of them. They are a bit hot these days and they have been for two or three months, so that is why I am short. I don’t buy high-priced stocks.”

 

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The Bottom Line

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Posted by Don Vialoux: Timing the Market

on Monday, 06 February 2012 07:55

Downside short term risk in equity markets currently exceeds short term upside potential. More sectors are starting to roll over from overbought levels. Fourth quarter earnings reports, economic news and possible macro events point to the high probability of at least a shallow, short term correction. Short term weakness will provide an opportunity to enter into seasonal plays that traditionally outperform during the spring season (e.g. Energy).



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