Wednesday, May 6, 2015
China might be my largest position
I bought Chinese shares last week, even though it was going through the roof. China might be my largest position. China is going to be the next great country in the world and there is no doubt about that—the risk at this point in China is that it looks like there is a bubble developing and the market has doubled in less than a year. It is not a bubble yet, but it could be turning into one—a massive number of Chinese are opening brokerage accounts again, and markets are going straight up and people don’t know what they are buying. I am bullish on China—if it turns into a bubble, I have to sell. I don’t want to sell... China has got a great future. China is going to be the most important economy in the 21st century and not India. Even if Modi comes through, India’s bureaucracy is so entrenched, so powerful and so staggering. India does not have the education, infrastructure and work ethic that China does. India is a chaotic democracy—democracies can be extremely successful, but not chaotic democracies. In my view, India is not a terribly rational country. I would suspect more and more people in India will start to get impatient, and not just its youth who need jobs. If you open up the country completely, more foreign investors will come in, and that may create jobs for India’s youth. Yes, some money may leave—fine, let it go—you want the new dynamic money rather than the old money that wants to get out. I would put money into India if its currency was open and convertible, and I’m sure there will be many others like me.
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