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Legendary investor emphasizes gold, commodities

Release Date: 
Wednesday, December 8, 2010

The
new growth sector will be in the production of real goods, not the finance
sector
, says legendary investor Jim Rogers. The famous co-founder
of the Quantum Fund believes that commodities will move higher in the next
decade
, Reuters reports.

Individuals, companies or countries that produce hard assets will outperform the financial sector, and creditor nations will do better than debtor nations, the author and chairman of Rogers Holdings told the Reuters 2011 Investment Outlook Summit in New York.

"All these people who got MBAs made a mistake," he said. "The city of London and Wall Street are not going to be great places to be in the next two or three decades. It's going to be the people who produce real goods."

Rogers predicted that commodities will continue their strong performance over the next 10 years. For instance, he opined that Canada, with its mineral- and hydrocarbon-rich lands, will outperform Belgium, the heart of the European Union. He also predicted the price of gold will climb beyond $2,000 per troy ounce.

"Throughout history we've had long periods when the financial centers were in charge," he said. "But we've also had long periods when people who produced real goods were in charge - the farmers and the miners."

This news article is independently provided by Brafton and does not represent the views or opinions of Goldline International, Inc. Although the information in this news alert has been obtained from sources believed to be reliable, Goldline does not guar­antee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.

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†This material has been prepared for private use. Although the information in this commentary has been obtained from sources believed to be reliable, Goldline does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.

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