Monday, August 13, 2012
Jim Rogers: Id rather invest in China than in other places
Oilprice.com: You've mentioned previously that the 21st century belongs to China. But China has some serious internal problems as its political stability depends heavily on rapid economic growth. We are also seeing increasing tensions between the wealthy coastal regions and the poor interior. My question is do you think the internal forces building up in China can be managed as China is held together by money not ideology?
Jim Rogers: What you just said about China's true of every country in the world, more so in places like America and Europe than in China. China does have internal problems. But their economy's much stronger than the western economies. You had riots in the streets in the U.K., what, last summer. Terrible instability, and there's going to be much more in the west. Greece, Spain, Portugal, these countries have staggering instability.
In America in the 1930s we certainly had all sorts of political problems and yet survived, partly because America was a very large credit nation and had the assets to see us through.
America came out of that and became the most successful country in the 20th century. China's going to have plenty of problems. Plenty. I'd still rather invest in China than in other places. - in Oilprice
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