I've just watched a very interesting interview with Jim Rogers, the legendary global investor who predicted the commodities rally in 1999, and thought I'd give a brief overview of what he said as you can learn a lot from successful and experienced investors.

The main points he made were as follows:

- Not interested in what Fed does, it's irrelevant as they only react to the market and not vice versa.

- US economy not in crisis yet, only 5% off all-time highs.

- Don't ignore weakness in dollar. If dollar goes down, inflation goes up. Should be selling US dollars and bonds.

- Fed should raise interest rates, protect the dollar and stop inflation, otherwise big problems ahead. This may cause bankruptcies, but unavoidable.

- Still shorting investment banks. Thinks US is currently in recession, autos and housing markets certainly are. Possibly more problems ahead.

- Best global investment is agricultural commodities. Has been buying for last year or so. Some are at all-time highs but still plenty of opportunities in cotton, coffee and sugar, for example.

- Also likes japanese yen and swiss franc.

- Sold all emerging markets except China. Largest market in world for many commodities and products. May be bubble in future but still holding for now.

- Recession not the end of world, we've always had them every six or seven years throughout history.

This interview with Jim Rogers was recorded last month, but as he is mainly offering his long-term views, it's still well worth watching as he raises some very interesting points. To watch the full interview, click here.