JIM ROGERS

JIM ROGERS

Thursday, July 11, 2013

JIM ROGERS : Most Bull Markets have lasted for a couple of decades



Business Insider : The word on Wall Street is that the commodities super cycle is now over. Do you subscribe to that view?
JIM ROGERS : Well I'm very keen to hear that, especially since none of these people saw the bull market coming. All those people who didn't see it coming and weren't convinced it was happening, are
now saying it's all over. I'm sure you know that bull markets climb a wall of worry and we're certainly having a wall of worry and skepticism which is good.
In 1987 stocks around the globe fell 40% and many people said the bull market was over. Then in 1989, 1990, 1994, 1997, 1998 there were many times when stocks collapsed and everybody was convinced the bull market was over. The bull market wasn't over. It eventually ended in a bubble. In my view that's happening with commodities. I don't see major sources of new supply coming in on stream. Most commodities don't have massive new supply yet. For instance, agriculture has produced record levels for the past few years and yet inventories are the lowest in 40 years because consumption keeps going higher and higher, faster than production does. We have serious fundamental problems developing in agriculture. I don't see enough new supply to cause the bull market to end other than a temporary consolidation, especially since so many people are convinced and quick to rush out and write that the bull market is over. But we'll see.
Most bull markets have lasted for a couple of decades, or nearly a couple of decades. And in my view supply is not there yet. By the way if economies slow down, it would affect demand for all commodities but then Mr. Bernanke and his friends are going to print a lot more money. It's the wrong thing to do but unfortunately that's all they know to do, and they'll do more.


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 "