Thursday, October 15, 2015
Jim Rogers : Commodity Prices to go Higher if a War Breaks out in The Middle East
Jim Rogers: Well, I will tell you, the whole Middle East situation is unbelievable. I cannot think of many times in history where you have so much just pure, pure chaos by so many people. I mean, it’s not as though there are one or two people making mistakes in the Middle East, there must be a dozen people making mistakes in the Middle East, and unfortunately, they are coming together more and more.
I’ve got to sit down and figure out how this is going to end, because it looks like it could end in a very, very bad way for all of us. Wars start when bureaucrats make mistakes and then other bureaucrats react to those mistakes and then next thing you know, you have eight or ten bureaucrats sending 18 year old kids to kill each other, and it’s very worrisome what’s happening.
Having said that, to answer your question, war is not good for anything, anything at all, except commodities. I’m not going to say buy commodities because you don’t want to start a war, but if there’s going to be a war, it usually means commodity prices go higher. - via Midasletter.com
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