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%.

Friday, November 11, 2011

The shortage of crude oil gets worse and worse and the price is going to go much higher

Jim Rogers : [Crude Oil Price] depends on what happens in the world. As I said if Spain goes bankrupt, the oil would go to 50. If Iran and Israel go to war tomorrow, it would to go 200 straightaway. It depends on what happens in current events looking around the world, but basically the shortage of crude oil gets worse and worse and the price is going to go much higher.- in ET Now

OIL is going to go much higher

Jim Rogers : I continue to own oil. I am not thinking about selling it. I know it is going to go much higher over the decade. If somebody suddenly goes bankrupt, if Spain suddenly surprises us and goes bankrupt, everything would go down for a while, but you better jump in and buy if that happens. - in ET Now

The surprise for crude is that how high the price is going to stay and how high it is going to go

Jim Rogers : The surprise for crude is that how high the price is going to stay and how high it is going to go. The world's known reserves of oil are on decline. The International Energy Agency is going around the world every month begging people to listen that we are running out of known reserves of oil. - in ET Now

All the commodities that I get involved with, have futures markets

Q : Do you think it is the right time now to switch out of nonferrous metals and buy ferrous metals? Jim Rogers : I do not really pay too much attention. There is no futures market. Most of the commodities, all the commodities that I get involved with, have futures markets. I am vaguely aware what's going on in iron ore and steel, but I do not pay that much attention. - in ET Now

Base Metals have a huge wonderful future

Jim Rogers : I own mainly precious metals and agriculture. I own all commodities, including base metals. So certainly base metals have a huge wonderful future. People have not been opening many metal mines in the past 25 or 30 years. There has only been one lead mine for instance opened in the past 30 years. So base metals have a terrific future. - in ET Now

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 "
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