JIM ROGERS

JIM ROGERS

Thursday, June 20, 2013

Jim Rogers : The Renminbi Could Appreciate 500% In Next Three Decades



China's Currency Could Appreciate 500% In Next Three Decades according to Jim Rogers
 Famed investor and co-founder of the Quantum Fund, Jim Rogers said in Shanghai that he expects renminbi, China’s currency, to appreciate 300, 400 or even 500 percent in the next 20 to 30 years.

Jim Rogers was a partner of George Soros. Jim has a net worth of over $300 million. He wrote books predicting the boom in commodity prices since the 1990s and has been a China bull since at least 1984.

Compared to the yuan’s value in 2005 (when it was 8.3 to 1 US $), Rogers expects it to appreciate by as much as 500 percent in the future. This would be about 1.7 to 1 US$.

Rogers went as far as to suggest that the renminbi might become the new currency of reserve within our lifetimes.

Nextbigfuture had been expecting the yuan to appreciate to about 3.0 to 1 US$ over the next 8 years or so. This would be about a 250% move. It would be to about the level of purchasing power parity.. - in nextbigfuture


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 "