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%.
Thursday, December 29, 2011
Jim Rogers on The Financial Stocks
Jim Rogers : Bank of America has been in trouble the last couple of years and will continue to be in trouble, yes. Bank of America´s made a lot of premature decisions in the past five, ten years, and now they should go bankrupt. I think American bank stocks are going to continue to have serious difficulty. The stocks are not going to do much. They may continue to trade in training ranges. They´ll go up down, up down, up down, but they´re not going to go anywhere for a long time. America made a really terrible mistake in finance in the past 20 years, we?re going to pay for them. Those stocks will not be a good place to be for a long time to come. I have sold short one large American bank. I would not think about buying, unless somebody´s a good trader . I would not think about buying American banks including Bank of America. Now, again, it could trade from five to eight or five to ten. But as far as going up a lot it´s not going to happen with Bank of America or other bank stocks.- in Eleconomista.es
Labels:Jim Rogers Financial Stocks
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 "