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%.
Monday, May 24, 2010
Jim Rogers : I am long the Euro not that I am making any money but I was stunned this means that they have giving up on the Euro they do not particularly care if they have a sound currency , you have all these countries spending money they do not have and it is going to continue so..I have to worry about the Euro ...I worry about all paper money , all paper money but this is just another nail in the coffin ...
The fundamentals are terrible for all paper money , every currency , there are a few I mean the Singapore dollar is the soundest of all philosophically anyway , Canadian (dollar) ...there are some currencies that are reasonably sound but basically all politicians in the world now how to buy votes now and they are doing their best to buy votes that's not good , why you think gold is going to the roof , not going to the roof yet but it is going up , because other people understand what I understand...
...Money has to come from somewhere you either have to print it or borrow it or tax it , in the end people who are putting up the money will say things aren't better for me , and the currency is being debased everywhere...The idea of solving debt and consumption with more debt and more consumption , can you believe that the grown ups would say something like that ?!?! I men it is mind bugling to me that people who are supposedly educated would believe this and they seem to , I think what they really know in their hearts is we just gonna put the problem off until I am gone and then the next guy would have to worry about it , it is not going to help us all says Jim Rogers chairman of rogers Holding ,
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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 "