Sunday, June 1, 2014
Jim Rogers: I am Bullish on Sugar & Crude Oil
ET Now: Crude oil prices have seen strength on the back of Ukraine and Russia issues. On the one hand, you have the US supplies near record highs and on the other hand, there are supply-demand plays and geopolitical concerns. Where do you see the crude prices taking next cues from?
Jim Rogers: Remember, all the other known reserves in the world are in decline, even if the supply from the US is rising. Everywhere else, there has been declining reserves, because there have been no great oilfield discoveries in over 40 years.
ET Now: It is interesting to see how the sugar prices are performing now, because after three years of decline in the prices, we are perhaps looking at the first deficit year in the global markets. You also have seen the sugar prices gain up from here. Are you expecting further strength?
Jim Rogers: I own sugar. So I certainly hope so. So by all means, I am bullish on sugar.
- in ET NOW May 2014
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