Sunday, October 6, 2013
Jim Rogers to The Money Show : Gold , The final bottom is not in Yet
NANCY: So are we having a rally in gold right now? A mini rally?
JIM ROGERS: Yes and no; it depends on which day you’re talking about. I own gold and I’ve owned gold for many, many decades. The situation with gold, gold went up 12 years in a row and Nancy, I know of no asset in history that’s gone up 12 years without a down year, so the anomaly has been how strong gold was, so gold is now correcting. In my view, the correction will be an anomaly too, because of the previous 12 years, so I would suspect you’ll gold have correcting for a year…two…three , I don’t know how long, and how low it will go, but it’s not going to be normal. There’s still too many people who believe and not enough people who’ve given up on gold yet. So I own gold. I haven’t sold any gold. Every once in awhile when it’s down, I buy more. But the bottom, I don’t think is in. The final bottom is not in yet.
Jim Rogers is the best-selling author of several books, including Investment Biker: On the Road with Jim Rogers, Adventure Capitalist: The Ultimate Road Trip, Hot Commodities: How Anyone Can Invest Profitably in the World’s Best Market, and his latest, A Bull in China: Investing Profitably in the World’s Greatest Market. He is an investor who has been chronicled in Jon Train’s Money Masters of Our Time, Jack Schwager’s Market Wizards, and other books. After apprenticing with Arnhold and S. Bleichroeder in the early 1970s, Mr. Rogers co-founded the Quantum Fund, a global-investment partnership. During the next ten years, the portfolio gained more than 4,000%, while the S&P rose less than 50%. He retired at 37 and has since then continued to manage his own portfolio, served as professor of finance at the Columbia University Graduate School of Business, and appeared as a regular commentator and columnist in various media. Mr. Rogers has been frequently featured in Time, the Washington Post,...
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