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%.
Tuesday, October 4, 2011
CME margin increases led to margin calls and the liquidation?
Jim Rogers : That’s some of it. The grace margin climbed just a few times for several metals that you know. That’s certainly part of it. But there are many reasons. Silver and gold - you know, gold has gone up ten years in a row. That’s extremely unusual in any financial asset. Silver skyrocketed here in the last several months. So yeah, it’s a combination of things - financial panic, market re-quals, etcetera. But I don’t see this as any problem. It’s good for markets. Back in the 1970s gold went up 600% and then gold went down 50%, scared everybody’s socks off. A lot of people gave up on gold. And then as soon as they gave up and sold, gold turned around and went up 850%. That’s not a typo - 850%. So this is nothing unusual. Oil has gone down almost 50% three times since the bull market started in 1999. I don’t pay too much attention to these things. I try to be smart enough to buy when it collapses some. - in Goldseek Radio
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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 "