JIM ROGERS

JIM ROGERS

Saturday, January 14, 2012

The Euro zone economy may face years of recession

Jim Rogers : The best thing they can do is to let the Greeks go bankrupt, let the banks collapse and shareholders lose, and then restructure the whole thing. The euro area should do the same thing when it dealt with the three Nordic banking crisis in early 1990s. Take quick and decisive measures. The Government took over insolvent financial institutions, restructured the banks through disposing non-performing assets, and emerged from the crisis quickly. Twenty years ago, the Japanese government’s response to the crisis is a lesson to us. Letting those banks become “zombie banks” will only lead to 10 years of recession or even longer. Therefore, if the euro zone keeps kicking the can down the road, I am very worried that the euro zone economy may face years of recession. The euro will also be in danger, although the world economy needs the euro and the dollar to compete with each other in order to maintain the balance. If the euro collapses, it will lead to the appreciation of dollar, yen, and even RMB.        - in Shanghai’s First Financial Daily




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%.





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 "