A day after famed investor and China bull Jim Rogers declared the UK was finished and urged investors to sell the pound, a Goldman Sachs economist shot back with an report declaring that the “likelihood of a near-term improvement in business activity suggests sterling could bounce back quite quickly. We therefore stick to our guns and remain long sterling.”
“We’re bullish the pound and gilts,” Goldman economist Thomas Stolper told Bloomberg. “The macro picture in the U.K. is not as poor as many people try to portray.”
Rogers had said “I would urge you to sell any sterling you might have. It’s finished. I hate to say it, but I would not put any money in the U.K.”
So who is right?