Wednesday, January 18, 2017
Jim Rogers Warns Market to Cave in the Next Few Months
Jim Rogers Issues a Warning for the American Economy
I am buying China, Japan, and Russia, all of which are Asian markets. One reason I am not buying the U.S. is because the U.S. is making all-time highs. I prefer not to buy things making all-time highs. Japan is down 50% from its high, and Japanese Prime Minister Shinzō Abe said he will print unlimited amounts of money. He is doing things to make the market go up. He has also passed legislation to give tax incentives to invest in the stock market. He has persuaded the huge pension funds to buy more shares. Abe has done a lot of things that are good for stocks and the investment community. I am not buying the currency USDJPY, +0.72% because he is running up huge debts and printing money, which is debasing the currency. In the short term, it’s good for investors. In the long term, it will ruin Japan. The population is declining, debt is going through the roof, and currencies are being destroyed. This is not good for Japan.
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