Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Sunday, September 25, 2011

Europe better have controlled default now than uncontrolled chaos later on

Jim Rogers :.... it does need capital. they've got all these greek bonds, these irish bonds,they got all these PIIGS bonds as they call them now , no they all need capital. the only solution that will work is if they can all gather in a room and say, okay. we're going to have to write off loans. we are going to have to take big losses. you, whatever bank X, you'll suffer. we're going to put a ring fence around all of you and support all of you to keep this system alive so that people can take money out of the banks so checks can clear, etcetera. but they're going to be huge losses taken. if they don't do it now, you know, the market makes them do it in a year or two, David, Gary, then it's going to be uncontrolled chaos. right now you could have controlled default.  if you did it now. if you don't, if you wait a while, it's going to be uncontrolled default. - in CNBC




Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

If congress should pass a law encouraging people to bring money back to the country then obviously I will buy even more dollars

Jim Rogers :... if bonds spiked up that will be a good sign to short them again , if the dollar collapse for some reason that will be a good reason to buy some more dollars or if the dollar shot straight up I have to sell it , it just depends on how the world evolves and what happens , If congress should pass or somebody should pass a law encouraging people to bring money back to the country then obviously I will buy even more dollars - in Reuters 


 
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "
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