Filed under: Forecasts, Bad news, Recession

Market maven Jim Rogers is worried — bad news given how brilliant his bullish calls on commodities and China, and bearish calls on financials look now.

In an interview with Fortune, Rogers said that “Conceivably we could have just had recession, hard times, sliding dollar, inflation, etc., but I’m afraid it’s going to be much worse. Bernanke is printing huge amounts of money. He’s out of control and the Fed is out of control. We are probably going to have one of the worst recessions we’ve had since the Second World War. It’s not a good scene.”

He’s still bullish on China — and believes the recent correction is a good thing. He recently sold his New York property and moved his family full-time to Singapore.

I don’t pay attention to many market pundits, and I don’t suggest that you do so either. But Jim Rogers is an exception.

Aside from investing in China — which most people should already be doing anyway — there’s an ETF play if you like Rogers’ thinking.

The ProShares UltraShort Financials ETF is a way to short the performance of the financial stocks Rogers is so bearish on — with 2 times the volatility. While not for the faint of heart — a gain of 10% for the sector will send you down 20% — it’s definitely worth a look given Rogers’ track record.

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This entry was posted on Saturday, February 2nd, 2008 at 8:30 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.