Sunday, November 30, 2014
I Like Depressed Markets like : Russia , China or Japan
ET Now: What about the equity markets? They have done better even with the US carrying stimulus. Now that IMF has cut global growth outlook, what is your sense? Where is the smart money going to flow now?
Jim Rogers: I wish I knew. Currently the US dollar is one place where people seek great future. It would not be straight up. There will be corrections along the way, but the US dollar is one place.
Talking of agriculture, we are going to have more problems there going forward. In times of turmoil, people usually often turn to agriculture. It is because we are going to continue to eat, and if there is a war, the prices of agricultural goods will surely go up.
These are places that I am looking at.
Markets that are down — like Russia or China or Japan — are places where people might find opportunities. I do not particularly want to buy shares in the US, which are near their all-time high, or Germany, or those markets that are up a lot. I prefer buying things that are depressed, rather than things that are going up.
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