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

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 "