JIM ROGERS

JIM ROGERS

Monday, December 16, 2013

I think there is another Opportunity to Buy Gold in the Future at lower prices


Jim Rogers

Jim Rogers


 "If or when it goes down I plan to buy more. Because gold is going to go to huge numbers before this is all over.
    
    "But I'm not buying now, and I do think there's another opportunity to buy gold in the future [at lower prices] for a couple of reasons.
    
    "One, gold went up 12 years in a row Miguel, and I have never seen any asset in history go up 12 years without a down year. There may be some, I just don't know about them. So gold had a peculiar rise, and I would suspect that the correction which we're in now and have been for many months will be an anomaly as well because of the previous rise.
    
    "Perhaps more important is the fact that India, which is the largest buyer of gold in the world, has a gigantic balance of trade problem and the Indian politicians are blaming it on gold. Gold is their second largest import after oil, and they cannot do anything about oil, so they're attacking gold. They've already put on lots of restrictions to limit people buying gold. And now the Indian politicians are trying to figure out a way to make the Indians sell gold.
    
    "Now, I don't know what's going to happen obviously. But the fact that India, which has been the largest buyer, has reduced its buying a lot, whenever you have the largest buyer of anything cut back and cut back a lot, it has an effect, and that's one of the main factors that's causing gold to go down. And if, if the Indian politicians somehow get their people to sell gold, whoo! Who knows how low it could go?
    
    "But I hope that if and when something like that happens, I'm smart enough to buy more gold. Because with all this staggering amount of currency debasement going on in the world, gold has got to be a good place to be down the road once we get through this correction."

"This correction could last another few months. I don't know, I'm not a market timer. I'm terrible at short-term trading. But if it goes down more I hope I'm smart enough to buy more. I'm certainly not selling."


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 "