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Big surprise! Jim Rogers isn't a big fan of the Fannie Mae/Freddie Mac bailout.
Jimmy has been short both freddie and fannie since they were both over $60 a share.Considering he covers today or anywhere in the sub 1 dollar level, he'll take one hell of a P&L this year. 6,000% return on the trades, and I estimate he's allocated 2-5% of his portfolio into those shorts. He's looking at a 120-300% return for his entire fund, not including his investment bank shorts are undoubtedly up astronomically.My hats off to you Jimmy.
He's also been long airline stocks for a while......
It'll be interesting to see the effects of the IAS360 housing index to determine whether the bailout stabilizes the market or not. This index analyzes the data on a county level. http://iasreo.com/ias360.html
I think this is an old clip. It showed fannie at 10 dollars, when it was below a buck the last time I checked. I think this was before the events of this past weekend, although he blasted those on CNBC Europe this week.
True, as the commenter above noted, this is a Bloomberg clip from July, when Jim was following up that weekend announcement's of a proposed government bailout. Great clip, and here are some very recent reactions from Rogers on the completed nationalization of Fannie and Freddie:http://financetrends.blogspot.com/2008/09/rogers-and-buffett-disagree-on-bailouts.htmlhttp://www.bearmountainbull.com/home/more-jim-rogers-091008/See the second link for Jim's most recent Bloomberg appearance.
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