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Rogers and Roubini, Face off and Mostly Agree

Doug Hadfield, resourceINTELLINGENCE TV
Much has been made of the Nouriel Roubini/Jim Rogers Bear vs Bull Battle in the last few days. It's obviously a media fuelled debate. Apart from the definition of a "bubble" and the price of gold, I'm pretty sure these guys are investing in the same things: Emerging economies and commodities.

It's not surprising that the likes of Jim Rogers and Nouriel Roubini disagree on a great many aspects of the economy. They are the standard bearers for multitudes of the Bulls and Bears, respectively; they are expected to pontificate within a relatively predictable line of reasoning.

What's surprising is the degree to which the viewpoints appear to have have diverged. On one hand Rogers is saying gold will top $2,000, possibly go even as high as $10,000 per ounce during this bull market. In a follow up article, Bloomberg quoted Roubini as saying the idea of gold going to $2,000 per ounce was "utter nonsense". Maybe $1,100 or so, says Roubini, but that's about it.

But are their investing ideas really all that different? Roubini recently told the Diggers and Dealers mining conference in Kalgoorlie, Western Australia, “As the global economy goes toward growth as opposed to a recession, you are going to see further increases in commodity prices especially next year. There is now potentially light at the end of the tunnel.”

Ok, so Roubini thinks highly of commodities -- especially next year.

What about Rogers? Rogers couldn't agree more! "Nobody can get a loan to open a mine. You're not going to see any mines opening for fifteen years. The world's oil reserves are in fairly rapid decline. So the supply of all commodities is getting better. The fundamentals in Citibank are not getting better, the fundamentals at General Motors are not getting better but they are for commodities. So the only place I know to put money is into real assets."

Arnab Das, Head of Market Research and Strategy at Roubini Global Economics -- a proxy for Roubini -- argues that investors should take “overweight” positions in developing-nation assets. While emerging markets will have “occasional corrections,” the surge in asset prices “has many legs to go,” Das said in an interview.

As for Rogers, he's an investor in BRIC nations, he moved to Asia to be closer to the emerging markets and he believes farming is going to be the greatest profession of the next century. That's pretty emerging.

Listen to the men yourself. To me they sound equally intelligent, not completely divergent in viewpoints.