Wednesday, January 27, 2016
Oil to be Making a complicated Bottom in the next few Months
Ed Milewski: I mean outside of precious metals, do you think any of the other commodities will be driven higher as we enter a hyper-inflationary period?
Jim Rogers: Well yes…that’s what I was leading to. I do expect the precious metals to get a lift but other commodities too because people will be desperate for real assets. Agricultural commodities will be in great demand at that point. But oil too. I mean, oil is bound to be making a bottom some time in the next few months. It’s a complicated bottom obviously…but if oil goes to – you pick the number – then of course, oil’s going to make a bottom too, and when people start to look for places to put their money, they’re going to be looking for real assets and getting out of their dollars. They’re going to be looking for real assets because they know the banks are just totally debasing the currencies all over the world. - in midasletter
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