Monday, November 7, 2011
Jim Rogers : commodities are easier to understand and invest in than stocks
Jim Rogers : commodities are easier to understand and invest in than stocks , nobody could ever understand Siemens not even the chairman of Siemens because it has thousands of employees products suppliers factories , nobody can understand Siemens , but cotton ? we all know what cotton is , all you have to do with cotton is to figure out whether there is too much cotton or too little cotton , I did not say that was easy , there are millions of people trying to figure out all day whether there is too much cotton or too little cotton , but it is certainly a lot simpler , we all know what cotton is , we all know what orange juice is what oil is , we know what copper is , we do not know anything about Toyota or IBM or Siemens ...so if you can figure out whether there is much or too little , that's all you have to do and it is not easy but it is certainly a lot easier than understanding Siemens or Toyota ...- in RBS Conference 22.11.2011
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