In an interview with India’s Economic Times, Jim Rogers reveals an intensely bearish attitude on stocks, and even drops a bit of a mystery:
He says: “I am shorting a stock market index in the US, I am shorting an emerging market index and I am shorting one of the large western international financial institutions.”
“It is an emerging market index; it is not a specific country. It is an index of many emerging markets and that is mainly because the emerging markets have grown more than most things here during this big recovery. So that is where some of the excesses are developing.”
Which major financial institution might he be shorting?
He describes it as a bank which people think is ‘extremely sound’, but which could be taken down by currency problems.
So, who is it? Citigroup (C) JPMorgan (JPM)? Goldman Sachs (GS)?
Any guesses? Justify them below.