JIM ROGERS

JIM ROGERS

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%.





Who is Jim Rogers ?

James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry 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%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator

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 "