Jim Rogers says he sold most stocks and moved to cash

Veteran investor Jim Rogers says he trimmed most of his stock holdings because global markets were near record highs and shifted much of the money into U.S. dollars and a few overseas positions. In an interview with Felix Prehn, Rogers also discussed inflation, gold, silver and his warning that investors should stick to what they know.

Why it matters: - Jim Rogers is signaling caution at a time when stock markets are near record highs. - His comments touch on inflation, cash preservation and how investors think about risk when asset prices are elevated. - The interview also reinforces a classic investing message: avoid following other people into trades you do not understand.

What happened: - Felix Prehn, founder of Goat Academy, interviewed veteran investor Jim Rogers on the Felix & Friends YouTube channel. - The episode was seen by more than 150,000 viewers. - Rogers said he sold nearly everything in his portfolio because every stock market in the world was almost, or already, at a record high. - Rogers said he moved the money into a large cash position in U.S. dollars and a small number of shares in two overseas markets. - Rogers said other investors should not copy his positions. - Rogers said: "I do not want anybody to listen to me and invest in what I invest in. I want them to invest in what they themselves know."

The details: - Rogers said he tends to sell when markets show hysteria and buy when despair dominates. - Rogers said high prices can trigger excitement, which makes him pause, ask questions and possibly reduce exposure. - Rogers rejected the label of contrarian and said: "I just like to buy cheap things." - Rogers said he keeps gold and silver, but he is not buying either metal at current prices. - Rogers said lower prices could change that view. - Rogers said governments often respond to economic stress by printing money. - Rogers said: "I know the simple answer for most governments is print money, and we know printing money leads to inflation." - Rogers said he keeps a small amount of gold and silver at home as protection against inflation. - Rogers closed with the advice: "Don't listen to other people, including me. Stay with what you know." - Prehn has made a similar point, saying there is no magic formula or miracle trade and that investors need a framework, discipline and calm decision-making.

Between the lines: - Rogers is using a simple risk signal: when assets are widely loved, he becomes more defensive. - His cash-heavy stance suggests he sees more downside risk than upside in crowded markets, though he explicitly said others should not follow his portfolio choices. - The gold and silver comments fit his long-running view that hard assets can help protect against currency weakness and inflation. - Prehn’s interview format gives the message a broad retail-investor audience, which can amplify Rogers' contrarian framing.

What's next: - The full interview is available on the Felix & Friends channel. - Rogers is likely to keep watching price levels, investor sentiment and currency moves before changing his stance. - Goat Academy said its education-focused content will continue through its YouTube channel, podcasts and free resources.

The bottom line: - Rogers is out of most stocks, holding cash and a small amount of precious metals, and urging investors not to chase hype or copy anyone blindly.