Jim Rogers on Bloomberg 2/28/11: Farmers will drive Lamborghinis

Here is some of the important points from Jim Rogers, Rogers Holding Chairman.

• Reason oil price is going up is because the world is running out on known reserves of oil; production cannot be increased easily
• Commodity Bull Market will stay
• If you are not buying physical commodities, buy commodity stocks; agriculture, mining, energy
• Jim is making money in commodities. If the economy is good, he will make money. If the economy does not get better, he will also make money as they are printing money (huge amount of it)
• Gold will go up to USD2000/oz by end of the decade, by end of the bull market. Silver will be USD50/oz.
• In bull market, you want to have everything. Jim hedge himself by shorting (selling) Emerging Market stocks & Nasdaq Stocks. Buying commodities.
• In 70's most stock did badly. The only stock did well is commodity stocks.
• He says farmers will be the ones driving Lamborghinis, and stockbrokers will be driving taxis. Smart stockbrokers will be driving tractors.

Good insights from Jim Rogers.