JIM ROGERS

JIM ROGERS

Monday, February 16, 2015

Jim Rogers : The European Union is not going to Survive





What is your reading of the situation in the eurozone with so much of uncertainty surrounding Greece?
Jim Rogers : The European Union is not going to survive as there are too many stresses and too many problems. If Greece pulls out, it will not be good. Immediately, there will be turmoil in the stock markets. But, over the longer period, it will be good for world stock markets and currency markets. Countries have been bailing each other out and that cannot happen all the  time. The debt is going higher and higher in the global economy, and the next time if there is a world economic problem, it's going to be much worse. I hope that Greece should pull out of the European Union and default because the world cannot go out bailing every country. It will certainly cause pain, but the sooner you take pain, it will be better. One may remember in Scandinavia, there were debt problems. Many people got bankrupt and there was terrible pain, but after 2-3 years, Scandinavia emerged very strong and vibrant. - in Economic Times




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 "