Monday, January 2, 2012
Jim Rogers outlook for Spain
Jim Rogers : And the next time America has a problem the world will have more of a problem, but the world doesn´t have many bullets left. I mean they cannot continue to increase the debt by staggering amounts of money which is just not possible, and we cannot print huge amounts of money anymore. So the next time around, Spain, Europe, America, the world, are all going to be badly affected with more bankruptcies. I don´t know exactly who, when or where. Spain is not in bad shape as some countries. Spain is in bad shape. They do have a new government which says they understand the problem and says they´re going to do something. Let's hope it does and then Spain will not go bankrupt. - in El Economista
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