Friday, January 6, 2017
Jim Rogers Warns : Bonds are going to cause a lot of pain to a lot of people
Me: So when we look at global markets, which markets… [are those] that a lot of investors are very keen on [and may be in bubble territory]?
Jim Rogers: Well, I can’t think of many that people are keen on right now. America… the S&P, people are keen on… European football clubs… that’s a bubble.
American tertiary education is a bubble. Everybody thinks it’s the end all and be all. America has done a great PR job of selling its universities. Everybody knows [that] grammar school, primary school and high school are a disaster in America. But somehow or another that translates into the fact that America has great universities. Don’t ask me the logic. But that’s obviously a bubble.
Hong-Kong real estate, Shanghai real estate… [those] are clearly in some kind of bubble… also, Sydney real estate.
Bonds are obviously something that is going to cause a lot of pain to a lot of people. Bonds have been going up for 35 years. Literally, for 35 years. Now, bond markets have a habit of having long, long, long cycles, 30, 35 years. It’s normal in the bond market. At least historically in the U.S. it’s been normal, but… that’s another clear bubble.
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