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, January 6, 2012
I own US dollars but I do not own US bonds
Jim Rogers : I own US dollars. I do not own US bonds. It is a bubble as far as I am concerned. I expect sometime I will be shorting US government bonds, but I do plan to own US dollars. Now, the reason I own US dollars is because there were so many pessimists on the US dollar that I bought some and if we continue to have currency turmoil which I expect, then many people are going to flock to the US dollar. US dollar is not a safe haven, but many people think it is or they do not know what else to do. So they have put their money in the dollars. Somewhere along the line, if the dollar goes up, then I may be the seller.I do not know if I will ever own US dollar after that because the US dollar is a terriblyflawed currency.- 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 "