Tuesday, January 3, 2012

Rogers: Buy the Euro and the Swiss Franc in 2012

The euro and the Swiss franc will be smart currency plays in 2012, Jim Rogers, the billionaire investor and author, told CNBC Tuesday. Rogers, who recommended buying the euro, which has since fallen in value, in an appearance on CNBC in November, said that he was thinking about buying more euros after selling some in recent weeks, as hedge funds unwind their short positions in the currency.

“I suspect (German Chancellor Frau Angela Merkel) and that crowd will do something to make us feel better,” he added.

Rogers said calls for the European Central Bank to further monetize debt would be a “horrible mistake” and predicted that the markets will run out of patience later in 2012.

"The market will start saying: ‘Come on guys, we have had enough, this is shoddy and we’re not going to play any more,’ ” he predicted….

Read more at http://www.cnbc.com/id/45854214

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