Friday, April 10, 2015
Switzerland is not what it used to be
Jim Rogers : Keep your assets protected from whom? Depends on… North Korea is probably a very safe country to keep your assets if you’re trying to protect it from the U.S. and the West, I’m not so sure it’s safe for protecting it from the North Koreans if they get angry at you. It depends on who you’re trying to escape. I guess places like… Well that’s a tough one, because if you’re trying to protect it from everybody, you’re going to have to find yourself in an obscure country that nobody’s angry with, and which respects the rule of law and the sanctity of private property. I live in Singapore and I have assets in Singapore, but I have assets in various countries around the world. I have assets in U.K., some in the U.S. Trying to get my assets out of the U.S., because I expect exchange controls eventually. Switzerland, Austria, I mean these are countries that traditionally have been okay, but even these countries, especially Switzerland is not what it used to be as far as sanctity anymore. Singapore is the answer that pops to mind most of all for many reasons. The problem with that is, if the U.S. really comes after somebody, Singapore would probably cave to the U.S., depending on the circumstances.
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%.
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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