JIM ROGERS

JIM ROGERS

Wednesday, April 24, 2013

Jim Rogers : Gold is going to shake out the mystics – there are still a lot of mystics in the market


Jim Rogers : “Gold was setting us up for some kind of correction,” Rogers said in a Sunday night telephone interview from his home. “Gold needed a correction – it still needs a correction – and I hope this is the proper correction which gold needs. Then gold – somewhere along the way – will make a bottom and we can all join in the bull market as [it] goes higher and higher.” “Gold has to go a lot higher over the next decade or so, because [the world's central banks] keep printing money,” he said. Of course, it was just one week ago when gold suffered its worst two-day rout in 30 years. And even though that’s been followed by a five-day winning streak that was capped off by a 2.3% gain yesterday, gold is still in bear-market territory. “Gold is going to shake out the mystics – there are still a lot of mystics in the market,” Rogers said. “I have guys writing me saying this couldn’t be happening. I say, “Well, get out your quote machines, it is happening’.” - in a recent phone interview with ETF 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 "