Sunday, August 10, 2014
Jim Rogers Warns : Interest Rates will go Higher or Stock Markets will go down
ET Now: What do you make of the statements coming from FOMC and the recent data from the US? By when do you expect to see a rise in interest rates?
Jim Rogers: It is clear to me that what is going to happen is that as the US pulls back (stimulus), interest rates will go higher or stock markets will go down eventually, or both will happen. Unfortunately, when that happens, people in Washington - bureaucrats, academics, etc - are going to get scared or will panic. When people call them up and tell them that the pain is too great, they are going to relent and start printing money again ... Markets will breathe a sigh of relief, they will rally, go up for a while; but unfortunately that may then lead to the last leg of this poor market because rather than staying the course - which central banks have rarely done in the past few decades - they say everything is okay, but things will just get worse.
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