Wednesday, October 5, 2011

US Dollar is not a safe heaven , I own it just because I think everybody will go there

Jim Rogers : I own the US Dollar I told your network before that I own the US Dollar , one reason it has not is is first of all there are so many people who sold the dollar then all of a sudden there are a lot of people who find themselves too short the dollar and they had to back in , secondly there is chaos in the rest of the world too and many people wrongly in my view wrongly plead to the US Dollar as a safe heaven , I own it , I do not own it as a safe heaven I own it because I just assume everybody else is going to run there it could go much higher for a while
I own it because I know that the standard reaction is in times of confusion to run to the US Dollar , it is the wrong thing to do in my view but I know they are all going to do it so I have done it , as I told you before because everybody was so pessimistic on the dollar and I have found in my carrier that when everybody is on one side of the boat Laura you should go to the other side for a while so I bought US Dollar because of the pessimism ....- in RT America

Street Smarts: Adventures on the Road and in the Markets

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 "