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%.
Sunday, December 4, 2011
Jim Rogers on Physical Gold vs. Paper Gold
Jim Rogers : If I had Gold in the warehouse , it is not quite so easy for me to go down get my Gold and take it over and have it sold , but if I own paper Gold I pick up the phone and i say sell my paper Gold it may take 8 seconds to do the whole transaction , I own some of both , Physical Gold many people have it as an insurance policy in case paper market closes who knows what could happen , in case there is fraud in the paper market , in case there is hyperinflation , in case of war , there are many reasons to have physical gold hidden in your closet , the french peasants have been doing it for hundreds of years , the Swiss peasants for hundreds of years , I'm an old Swiss peasant , I'm an old french peasant i have a lot in my closets too , how do they work with each other ? well as I said there is a lot of speculation now in the paper gold market because it is so much easier to do than it was before , how do I know when to buy and sell Jeff ? watch CNBC you have the answer CNBC can answer those questions everyday ten times a day - in CNBC Nov 30 2011
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 "