Olly Ludwig: Let's talk about China for a moment.
There's a fair amount of talk that the China juggernaut is at a
crossroads, that what Deng Xiaoping achieved in the past generation was
the easy part, and achieving steady growth is going to be a lot harder
going forward. What's your take on that view?
There's no question that the first 30 years are the easiest 30 years
when you're doing something like Deng Xiaoping did. And, secondly, there
will certainly always be setbacks. Any country, any company, any
family, any individual that rises has setbacks along the way. That's the
way the world works. It's normal.
And, as we just discussed,
China has been trying to slow its economy for the past three years.
Anyone who doesn't understand that China is slowing down should read the
newspapers. And, I as I was just saying, they're trying to loosen up
too soon. But this is part of a plan. They have been successful so far,
but whether they will continue to be successful, who knows?
America, in the 19th century, we had a horrible Civil War; we had many
Depressions; we had very little rule of law; we had periodic massacres
in the streets; and we had few human rights. And yet we became an
extremely successful country in the 20th century.
China is going
to have plenty of problems as we go along. What they're going to be and
when and why, I don't know. But I do know there are going to be plenty
in Goldnews interview 10 July 2012
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