Jim Rogers Sells Stocks, Moves to Cash Amid Record-High Markets

Jim Rogers, co-founder of the Quantum Fund with George Soros in 1973, sold most of his stocks and moved the money into cash due to record-high stock markets. In an interview with Felix Prehn on YouTube, he explained that he sells when there's 'hysteria' in the market and buys when prices are low. He keeps a small amount of gold and silver as protection against inflation.

Rogers, who has predicted long price booms in raw materials and a weaker US dollar for decades, said high stock prices signal excitement among shareholders, which is a time to 'ask questions' and maybe pull back. He also mentioned that low prices can indicate others have put their money elsewhere, drawing his attention.

The billionaire investor stated he doesn't want people to copy him, as they should invest in what they know, not what he recommends. His comments do not constitute a forecast, and he watches market buyers' behavior before making decisions.