Big U.S. investors keep the faith on commodities
NICK BAKER
Bloomberg News
Jim Rogers and Byron Wien are still bullish on commodities after their biggest weekly decline in 15 years. Yet, they view the shares of raw material producers as overvalued.
Rising energy costs and unreasonable speculation about takeovers may cause the stocks' prices to decline, said Mr. Rogers, who co-founded the Quantum hedge fund with George Soros in the 1970s, and Mr. Wien, who joined Pequot Capital Management Inc. in December after 20 years with Morgan Stanley.
"Don't buy the stocks. Buy the stuff itself," said Mr. Rogers, 63, in an interview from New York. "Costs are going through the roof."
( For complete story, Click here )
Bloomberg News
Jim Rogers and Byron Wien are still bullish on commodities after their biggest weekly decline in 15 years. Yet, they view the shares of raw material producers as overvalued.
Rising energy costs and unreasonable speculation about takeovers may cause the stocks' prices to decline, said Mr. Rogers, who co-founded the Quantum hedge fund with George Soros in the 1970s, and Mr. Wien, who joined Pequot Capital Management Inc. in December after 20 years with Morgan Stanley.
"Don't buy the stocks. Buy the stuff itself," said Mr. Rogers, 63, in an interview from New York. "Costs are going through the roof."
( For complete story, Click here )
posted by Oil Shock at 12:22 AM
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