Saturday, June 14, 2014
Jim Rogers: Time to buy gold will happen within two years - See more at: http://www.pfhub.com/jim-rogers-time-to-buy-gold-will-happen-within-two-years-718/#sthash.laKQdb7S.dpuf
“I just mention the point that it is abnormal what gold has been doing for the past 10 or 15 years. So, I expect another chance to buy gold, at what price I have no idea,” said Rogers. “If America goes to war with Iran I’ll buy at $1600 and be happy to get it, if I can get it. So, when I say another chance to buy gold I am not so much making a price prediction as saying there will be another chance to buy gold.”
“Everybody has car insurance and fire insurance. You hope you never use it. Well, everyone should have some gold in the same way,” added Rogers. “I buy gold as an insurance policy but also because I hope to make money, and a lot of money, someday. If people do not have any gold yet, they should find a time when it’s going down to buy some, because everyone should have some gold as an insurance policy if nothing else.”
“Many more people will recognize gold coins, not everybody of course. They will also participate in any upside there is gold but, if nothing else, in an emergency they are your best choice,” said Rogers.
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