Tuesday, June 4, 2013
Jim Rogers : I suggest buying into Crude if prices fall sharply
Among commodities, gold and crude oil have seen a massive slide since the past few months. Have we hit bottom or is there more on offer over the next few months? What about base metals / industrial metals?
Jim Rogers : A correction in precious metals was long overdue. Gold has seen a steady rise for 12 years in a row, which is extremely unusual for any asset. Hopefully, now we are witnessing a long overdue and necessary correction in the yellow metal. I expect the gold prices to trend down further and then stage a recovery although there could be a good trading rally first.
I own both gold and silver and I am neither selling nor buying these two precious metals at current levels. Though I am not investing in yet, I may do so at lower levels. There are limited crude oil reserves and the demand, too, has been slowing down. I suggest buying into crude if prices fall sharply. As regards metals, I think one can start looking at those that have seen a massive drop from the top such as nickel and lead. - in Business Standard
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