JIM ROGERS Talks about his TRAVELS around the WORLD & TRUTH About World ECONOMY & POLITICS
James
Beeland "Jim" Rogers, Jr. (born October 19, 1942) is an American
businessman, investor and author. He is currently based in Singapore.
Rogers is the Chairman of Rogers Holdings and Beeland Interests, Inc. He
was the co-founder of the Quantum Fund and creator of the Rogers
International Commodities Index (RICI).
Rogers does not consider
himself a member of any school of economic thought, but has acknowledged
that his views best fit the label of Austrian School of economics.
In
1970, Rogers joined investment bank Arnhold and S. Bleichroder, where
he worked with George Soros. In 1973, Soros and Rogers both left and
founded the Quantum Fund. During the following 10 years, the portfolio
gained 4200% while the S&P advanced about 47%.[5] The Quantum Fund
was one of the first truly international funds.
In 1980, Rogers
decided to "retire", and spent some of his time traveling on a
motorcycle around the world. Since then, he has been a guest professor
of finance at the Columbia Business School.[6]
In 1989 and 1990,
Rogers was the moderator of WCBS' The Dreyfus Roundtable and FNN's The
Profit Motive with Jim Rogers. From 1990 to 1992, he traveled through
China again, as well as around the world, on motorcycle, over 100,000
miles (160,000 km) across six continents, which was picked up in the
Guinness Book of World Records. He tells of his adventures and worldwide
investments in Investment Biker, a bestselling investment book.
In
1998, Rogers founded the Rogers International Commodity Index. In 2007,
the index and its three sub-indices were linked to exchange-traded
notes under the banner ELEMENTS. The notes track the total return of the
indices as an accessible way to invest in the index. Rogers is an
outspoken advocate of agriculture investments.
Between January 1,
1999, and January 5, 2002, Rogers did another Guinness World Record
journey through 116 countries, covering 245,000 kilometers with his
wife, Paige Parker, in a custom-made Mercedes. The trip began in
Iceland, which was about to celebrate the 1000th anniversary of Leif
Eriksson's first trip to America. On January 5, 2002, they were back in
New York City and their home on Riverside Drive. His route around the
world can be viewed on his website, jimrogers.com. He wrote Adventure
Capitalist following this around-the-world adventure. It is currently
his bestselling book.
Jim Rogers: Gold May Be In A 50% Correction
Gold
fell to a 3-yr low last week but the precious Yellow metal's decline
may not be over, says investor guru Jim Rogers, Chairman of Rogers
Holdings.
"A 50 percent correction is normal in markets, so why
not in gold?" Mr. Rogers said in an interview Monday. "The 12-year rise,
2001-2012, was an anomaly in markets, so the correction may continue to
be an anomaly. There will be rallies after big drops, but I expect
another opportunity to buy gold."
Gold posted a record high of 1,921 oz in September 2011. A 50% drop from that level would put Gold at 960.50 oz.
Feb Gold futures rose 10.10 on Friday to finish at 1,203.70 on the New York COMEX.
Mr.
Rogers attributes the metal's decline not only to the 12-yr "anomaly"
but also to developments in India, the world's 2nd-biggest Gold buyer.
"Indian
politicians are blaming their problems on Gold, so [they] have added
special taxes, tariffs, controls, and regulations," he said. "The
politicians are now trying to figure out ways to force Indians to sell
Gold."
If they succeed, "who knows how low Gold could go?" Mr. Rogers said.
Many experts agree that the metal has more room to fall.
Southside
risk still exists for Gold, as the Fed has only just started to taper,
and people have become negative toward the precious Yellow metal
because there is no immediate signs of inflation.
because of what I
considered fundamental reasons for doing it, but the fact that Merrill
Lynch was getting out buttressed in my own mind anyway that I must be
right, because, you know, everybody was out. Who was left to sell? There
was nobody left to sell at that point.
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%.