|
|
|
Investor
Jim Rogers says Singapore to lose money on U.S. Banks
Kevin
Lim
Reuters
5
Mar
08
http://www.reuters.com/article/fundsFundsNews/idUSSIN33906200...
Investment
guru Jim Rogers believes that U.S. bank stocks could fall further
and predicts that Singapore's state investors will lose money on
their multi-billion dollar investments in Citigroup and Merrill
Lynch.
"I'm shorting investment banks on Wall
Street," the long-time commodities bull told reporters on
Wednesday at a launch event for ABN AMRO certificates linked to
commodities.
"It grieves me to see what Singapore is
doing. They are going to lose money," he added, referring to
investments by Government of Singapore Investment Corp and
Temasek in Citigroup, Switzerland's UBS and Merrill
Lynch.
Rogers, an American who co-founded the Quantum Fund
with billionaire George Soros in the 1970s, now lives in
Singapore as he wants to raise his four-year-old daughter in an
environment where she can learn Mandarin Chinese.
Rogers,
who also writes investment books, said Wall Street had to work
off 10 years of excesses and predicted that losses linked to
risky mortgages will eventually spread to credit card bills,
student loans and other debt.
|
|
