Saturday, February 11, 2017
Jim Rogers Warns Market to Cave in the Next Few Months
Transcript : previous companies in the past 11 years 0:02 now investors like founder of pan 0:04 american silver ah speedy rick rule 0:07 Sprott Asset Management and legendary 0:09 fund manager and restore stock picker 0:11 Marin KATUSA are taking a stake in this 0:13 new gold company insiders own forty 0:16 percent of the company 0:17 this is the gold play you don't want to 0:19 miss out on learn more at 0:21 futuremoneytrends.com slash insider 0:23 greetings and thank you for joining us 0:26 at futuremoneytrends.com i'm here with a 0:28 legendary investor someone who has been 0:30 a very pleasant guest on the show in the 0:32 past haven't talked to him in about a 0:34 year 0:35 mr. Jim Rogers chairman of Rogers 0:37 holdings 0:38 you can also find the many books that 0:40 he's written at gym rogers.com / books 0:43 some of my favorites adventure 0:46 capitalist street smarts and a personal 0:48 favorite is a gift to my children 0:50 Jim thank you so much for joining us I'm 0:53 delighted to be a Daniel I gym a lot of 0:56 people are getting concerned about the 0:58 economy because of the major indexes are 1:00 falling gold is is rising but you know 1:03 we've been through this so many times 1:04 before were all the sudden the dead is 1:06 spotlighted the bonds the 1:07 unsustainability what is different about 1:10 now is there anything different about 1:11 right now in 2016 then in 2009 or 2012 1:18 the difference in two thousand dollars 1:20 today is in 2009 the market that cave 1:23 and and collapse and and now we have the 1:26 market near all-time highs but the 1:29 gigantic your friendship seven years 1:30 later with massive amount of dead added 1:34 massive amounts of money printing a huge 1:37 artificial wave of liquidity around the 1:39 world and unfortunately we're all gonna 1:42 pay the price for it for the central 1:44 bank still uh I mean they've been able 1:46 to kick the can down the road I mean 1:48 after 911 in 2008 2011 when the when the 1:53 dollar are the Treasury got downgraded 1:56 by the SMP they always seem to be able 1:59 to just keep this thing going and they 2:01 keep it going for another decade and no 2:05 now they cannot i thought you could stay 2:07 for another month to another corner 2:09 and that but not not for another decade 2:12 absolutely not it's all gonna even long 2:15 before that Daniels for use it you 2:17 should be knowledgeable I know you are 2:19 but you should be worried and you should 2:21 be prepared everybody should be worried 2:23 and be prepared when you say be prepared 2:25 how do you prepare well in many ways 2:29 depends on who you are where you are in 2:31 your state your station in life and 2:33 other difficulty what you should do if 2:35 you're sitting in Colombia if you're 2:37 finding another fancy vastly different 2:39 different things have your 19 years old 2:42 the whole lot different from if you're 2:44 89 yourself so it depends on you and let 2:47 you know the the same the simple advise 2:49 you to stay with what you know whoever 2:52 you are with you yourself don't listen 2:54 to me or some guy here on the only 2:56 internet another TV they wouldn't let 2:59 you know how otherwise do nothing 3:02 Jim for negative interest rates i mean 3:04 really it's negative interest rates or 3:06 021 percent so essentially no one's 3:09 getting anything from these bonds of 3:11 what is this what is the central bankers 3:13 exit plan i know that you you are not a 3:15 central banker you're obviously thank 3:17 god you're not but what what do you 3:20 think what do you suspect me what your 3:21 speculation what the hell are they 3:23 thinking what is their exit game 3:25 well this is all an experiment for them 3:28 if you read some of the things they say 3:31 especially an unguarded moment you'll 3:33 see that they really didn't know what 3:34 they were going to just thought with 3:36 this system bonus up in the air and see 3:38 if it works or not they didn't know that 3:40 nobody's ever done something like this 3:42 before but they're essentially the most 3:44 important thing are a very important 3:47 thing about the stander is this is the 3:49 first time in recorded history when you 3:51 have central bank government setting out 3:53 to destroy the people who save and 3:56 invest throughout history all of us were 3:59 torched save your money invest for the 4:02 future and then in the end you'll be 4:04 okay i know nearly everybody listening 4:07 this was taught that lesson they 4:09 wouldn't be listening right now 4:10 unfortunately off all those people are 4:12 now being wiped out you know getting no 4:15 interest it doesn't matter whether your 4:16 pension fund endowment insurance company 4:19 whatever you are y'all getting wiped out 4:22 these days and that historically is 4:26 going to be a disaster 4:28 you need two people who save and invest 4:30 you need that class of people more than 4:32 anything else 4:33 well we're now rolling them and 4:35 unfortunately it's going to be a very 4:37 very serious problem with an inch 4:40 Jim the war on cash it seems to be X 4:43 accelerating however is there enough 4:46 time for them to implement the war on 4:48 cash where they phase-out currency for 4:51 them to get the maximum benefit of 4:53 having a casual society or they just 4:55 really wrapping this up too late 4:58 well too late it is it too late for the 5:03 difficulty I you know it's not you like 5:05 to get it done 5:06 will they get it done in 2016 no I mean 5:09 there's still millions hundreds of 5:11 millions of people oh don't have phones 5:13 in bank accounts etc etc so it will take 5:16 awhile to implement this certainly 5:19 worldwide or even nationwide in the 5:22 united states are they going to do it 5:24 yes they're going to do it it gives you 5:26 more power and more control and 5:28 unfortunately for all of us 5:30 governments throughout history of tried 5:32 for more power and more control 5:34 delighted power corrupts I'm not the 5:36 first person to figure that out and 5:38 they're going to continue to do it just 5:40 it good for you and me 5:41 absolutely not good for you and like it 5:44 gives you more control and unfortunately 5:46 we're going to have to face that problem 5:49 and how they're going to exist on this 5:52 daniel and for shot at i don't know that 5:54 i don't know if they have a plant 5:56 because i read all the stuff that they 5:58 talk about best I can see is they say 6:01 well if nothing else we can just let 6:02 this all run off and buy a lot of bonds 6:05 someday the bonds mature and then 6:08 everything goes back to normal 6:10 that's 30 years it takes forever for all 6:13 of that to happen 6:14 a and B it's not going to work that away 6:18 because eventually the markets just 6:20 going to say that these guys we've had 6:23 enough enough is enough we don't want 6:25 your garbage paper anymore and then 6:27 might then we're going to have the real 6:28 prices crisis just comes from 6:31 governments are central banks trying to 6:33 cool things are is one thing 6:36 but a crisis at the market imposes on 6:40 the world other than really really 6:42 national chains and that's what we're 6:44 going to face that these guys have 6:45 gotten us into a situation right there 6:48 is no escape 6:49 other than panic problems you seem more 6:53 specific I've talked to in the past 6:55 you've never want to put a date on it 6:56 understandably but you have given a 6:59 warning 6:59 however talking to you right now I'm 7:02 getting the sense that you there's a 7:03 little more urgency that people need to 7:05 prepare people need to be ready 7:07 is there something specific that you're 7:09 saying that has you worried 7:12 well I i guess the main thing that has 7:14 me a little worried now is that the 7:16 market are telling us that there's 7:18 something wrong you know this this the 7:21 last well ask too much you know it's in 7:24 2015 and United States twice as many 7:28 stocks were down on the new york stock 7:30 exchange as up only one-third of stock 7:34 on the new york stock exchange all up in 7:36 2015 7:38 now that was disguised the averages in a 7:40 good one flat they were flattened down 7:42 its but they were disguised by the fact 7:46 of the few big companies went up all the 7:48 time you know the names Amazon Microsoft 7:51 no stocks went up and hit the fact that 7:54 the market was really deteriorating 7:56 underneath there's the first side and 8:00 then of course this year 8:01 everything is going down nearly 8:03 everything so we know that the market 8:06 knows the market is telling us telling 8:09 me getting closer and closer to the 8:12 central banks are doing what they always 8:14 do that riding to the rescue and they 8:16 don't worry we will save you we will say 8:18 is that markets or rally but the markets 8:21 are telling me hey guys we're getting 8:24 close is gold-making 52-week highs part 8:28 of that sign and is it is it now a 8:31 bullish sign four goals i know you've 8:34 actually been kind of on the sidelines 8:35 for gold at least last year and maybe 8:37 the previous years i was talking to you 8:39 but i have about go for five over five 8:43 years I hold a lot of code 8:45 don't get me wrong and silver haven't 8:47 bought in to go for a long time 8:50 you know I'm on record 2011 this thing 8:54 is going to go to to 1200 1200 1200 8:57 shows how smart I am but don't know i'm 9:00 not buying gold at the moment I still 9:02 expect another opportunity to buy gold 9:04 may not happen 9:06 it certainly may not happen but if it 9:07 doesn't don't worry and violence in your 9:09 goat 9:10 I'm looking for new opportunities to buy 9:13 gold something we'll have you any less 9:16 safe let's say that the central bankers 9:18 save us for a while that the markets go 9:20 up for a while normally go we'll go down 9:23 often go go down in a scenario like that 9:26 especially if the central bankers do 9:29 something dramatic and then that would 9:31 be the opportunity if I go if you ask me 9:34 that Daniel did the central bankers 9:36 haven't given up yet they're not they 9:38 still make sure they still think they're 9:40 smart they still think they know what 9:42 they're doing they don't know what they 9:43 do they think they're smarter than the 9:45 march maybe check that they are not 9:47 smarter than the market even though they 9:49 think they are they always Ivy League 9:51 schools for goodness sake in all of 9:53 academics and bureaucrats they think 9:56 they're smarter than you and me and 9:58 certainly smarter than the market 9:59 they're not get judge when you're just 10:03 saying kind of almost reminds me the 10:04 election this year where you've got 10:06 these the rejection of the politicians 10:08 who have never really accomplished 10:10 anything but you have Donald Trump was a 10:13 businessman who has accomplished a lot 10:14 of things and of course is not an 10:16 endorsement to talk about Trump but is 10:18 the biggest problem or one of the 10:20 fundamental problems of the central 10:21 bankers these people really haven't 10:23 accomplished anything in life other than 10:25 going to school have a dish that is part 10:30 of our problems are you you put it you 10:32 put it very very well indeed they will 10:34 they be great at school you know they 10:36 were great in the playground 10:38 some of them were great in the 10:39 playground but that's about this 10:41 that's about the end of it finally mr. 10:43 Trump has accomplished think he's been 10:45 bankrupt for time I mean he's really 10:47 really really made a lot of people 10:49 supper very badly so he knows about 10:52 bankruptcy I'm afraid you're bank 10:53 robbers again let's not get off on that 10:56 yeah Jim what are your favorite 10:57 opportunities right now either short or 10:59 long 11:00 oh maybe i'm sitting and watching I i 11:04 don't really what am i doing anything 11:07 huh i'm gearing up to try that the other 11:11 half of one investor nigeria i invest in 11:15 Kazakhstan that's on investment or and 11:17 not doing anything either of those 11:20 places at the moment but i'm gearing up 11:22 of Columbia if I weren't so lazy i would 11:26 be doing something in columbia at the 11:28 moment I am sure in the US and short 11:32 stocks we talked about the 412 never 11:35 went to never went down my i'm short 11:39 junk bonds in the US but these are 11:42 positions that i put on before I'm not 11:44 not adding to the middle moment if the 11:47 opportunity arises only the junk bonds 11:49 go up a fair amount of time surely I 11:51 know I had that position that gold 11:53 collapses i'll add to that position for 11:56 the moment I i would like to short on 12:00 this rally Europe i'm going to short 12:04 some Europe on this rally at that's 12:06 probably the next action that i will be 12:08 taking but who host Daniel I mean tell 12:10 me what's going to happen in the next 12:11 couple of weeks and give you better 12:13 answer when we wrap it up what is the 12:17 myth what is the media missing about 12:18 China because essentially they're 12:20 talking about a bubble bursting and you 12:23 know we do see the the bridges to 12:24 nowhere we do you see the ghost cities 12:26 but you're there you're you've been more 12:28 countries than anyone i mean literally 12:31 Afghanistan of World Records for for 12:32 traveling so many countries 12:34 what is what is the media the talking 12:37 heads 12:38 what are they missing about China help 12:42 them by the main thing they seem to be 12:44 initiated they don't quite understand 12:46 the depth of the changes that are taking 12:48 place back a china is the only country 12:51 in the world has been great three or 12:53 four times great britain was great ones 12:56 from was great one to Egypt was great 12:58 once China's Great three or four times 13:01 for whatever reason I don't know they 13:03 also have attached to pee and collapse 13:05 over collapse three or four times but 13:07 every time in the only country which has 13:10 turned around on risen to the top again 13:13 in my view that's what's happening again 13:16 that does not mean Daniel little bitch 13:18 many disasters and setbacks along the 13:20 way in the 19th century america we're 13:23 going to do the great country of the 13:25 20th century 13:27 so we had a horrible civil war we had 15 13:29 depressions with we had massacres in the 13:32 streets we had very few human rights had 13:35 rule of law you could buy and she'll 13:37 Congress but just don't buy and sell 13:40 congressman but in the 19th century they 13:42 were cheap to buy three for the price of 13:44 one today we have any followers china 13:47 will have many problem as it rises there 13:50 does seem to be some property problems 13:53 now from over buildings but I would also 13:56 point out i have been watching property 13:59 over building for 30 years 14:01 remember the first time i went i think 14:03 i'll use these hotels he's going to use 14:05 the know what has china from many 14:09 historic reasons has been a disaster for 14:12 a few hundred years so there's a lot of 14:15 10 of demand kind of need but there will 14:18 be problems going on you talk about the 14:20 ghost cities but somehow know that those 14:22 ghosts is he getting filled up in the 14:24 past 30 years one after another has the 14:28 government is said that now they're 14:29 going to let people go bankrupt so there 14:31 will be bank which would be good for 14:33 China be good for the world if they meet 14:35 up so when you start seeing people go 14:37 bankrupt in China will scare a lot of us 14:40 the China has gigantic reserve a lot of 14:44 money saved up for a rainy day and huge 14:47 turn up too neat and you look around 14:50 your life 14:51 china the most Chinese don't have nearly 14:53 life that you have whether it's traveler 14:56 physical goods you know anything so 14:59 there's a huge need in China education 15:02 health care to name it and they need it 15:05 so those there will be setbacks there 15:07 will be problems along the way which is 15:10 good 15:10 china has said they're going to let 15:12 people go bankrupt 15:14 Oh in 2008 world had a problem 15:18 fortunately trying to have a lot of 15:19 money saved for a rainy day they started 15:22 spending it which is one reason the 15:24 world recover but this time around 15:26 no the Chinese have get themselves I 15:29 mean it's not like America it's not like 15:31 Portugal or something but they have a 15:33 lot of debt themselves so they're going 15:35 to see some problems should but I assure 15:38 you I'm long china and I'm sure the u.s. 15:41 I i don't think that the that the 15:44 Chinese situation while there will be 15:46 problems is better than what's happening 15:48 in the u.s. IgM IgE for people who are 15:52 listening to show right now and uh 15:53 they're interested in reading one of 15:55 your books kind of put up put you down 15:57 into a corner here 15:59 what what two books could you suggest 16:01 for someone right now to go read that 16:04 you've written that would be very 16:05 relevant for them today in in today's 16:07 markets well straight spots maybe 16:11 because that's the most recently it's 16:13 called speech large adventures on the 16:15 road and in the markets and it basically 16:17 discusses all of this and much more 16:20 including how I sort of came from the 16:23 backwoods of Alabama sudden it's just 16:25 really hearing in Asia with your blue 16:27 it's just stick to speak Mandarin has 16:30 perfect manners and why I'm here too 16:33 long way from the backwoods of Alabama 16:35 to hear i guess the other would be a 16:38 gift to my children just because 16:39 everybody who you who has shoulder will 16:43 understand it and that shoulder will 16:44 understand it but it's really it's 16:46 written for my children but my children 16:48 will not understand each other and their 16:50 twenties or thirties it's really good 16:52 growing out more than more than four 16:54 children LOL how some of the things that 16:57 I sheep about how to live one life and 17:00 have a having survived much less 17:03 successful i guess those are the 22 i 17:06 would start throwing it at my travel 17:08 books too but you said only two 17:10 catalysts out there 17:12 oh yeah and and the children's book I'll 17:14 give to my children without a doubt my 17:15 favorite book i have three small 17:16 children myself and it's just great 17:19 last question sir if you could only hold 17:22 one investment for the next five years 17:24 what would it be the next five years it 17:29 would probably be sugar maybe rice 17:34 probably probably sugar work for time I 17:39 today's prices 17:41 I mean it gold onto a thousand i would 17:43 take gold but if you're talking about 17:45 something to buy today at the market 17:51 well sugar comes to mind maybe the rule 17:54 a rule are our sugar i would say well 17:57 Jim you've been very generous with your 17:59 time thank you so much for anyone who 18:01 would like to learn more about Jim 18:02 Rogers go to gym rogers.com or go 18:05 straight to gym rogers.com / books and 18:08 you can buy all of his books 18:09 specifically the two he just noted 18:11 Jim thank you again sir I that these 18:15 guys have got this into a situation 18:17 Brad there's no escape other than panic 18:21 problems 18:22 you seem more specific I've talked to in 18:25 the past you've never want to put a date 18:26 on it understandably but you have given 18:29 a warning 18:30 however talking to you right now I'm 18:32 getting the sense that you there's a 18:33 little more urgency that people need to 18:36 prepare people need to be ready 18:37 is there something specific that you're 18:39 saying that has you worried 18:41 well I i guess the main thing that has 18:44 me worried now is that the market are 18:47 telling us that there's something wrong 18:49 you know this this the last well ask too 18:53 much you know it's in 2015 and United 18:57 States twice as many stocks were down on 19:00 the new york stock exchange as up only 19:03 one-third of stock on the new york stock 19:05 exchange alup in 2015 19:08 now that was disguised the averages it a 19:11 good one flat they were flat down its 19:13 that they were disguised by the fact of 19:16 the few big companies went up all the 19:18 time you know the names Amazon Microsoft 19:21 no stocks went up and hit the fact that 19:24 the market was really deteriorating 19:26 underneath there's the first side and 19:30 then of course this year 19:31 everything is going down nearly 19:33 everything so we know that the market 19:36 knows the market is telling us telling 19:39 me getting closer and closer to the 19:42 central banks are doing what they always 19:44 do that 19:45 riding to the rescue and they don't 19:47 worry 19:47 real shady we will say that markets or 19:50 rally but the markets are telling me 19:53 previous companies in the past 11 years 19:55 now investors like founder of pan 19:58 american silver ah speedy rick rule 20:00 Sprott Asset Management and legendary 20:02 fund manager and resource stock picker 20:04 Marin KATUSA are taking a stake in this 20:07 new gold company insiders own forty 20:09 percent of the company 20:10 this is the gold play you don't want to 20:12 miss out on learn more at 20:14 futuremoneytrends.com slash insider 20:16 greetings and thank you for joining us 20:19 at futuremoneytrends.com i'm here with a 20:21 legendary investor someone who has been 20:23 a very pleasant guest on the show in the 20:26 past haven't talked to him about a year 20:28 mr. Jim Rogers chairman of Rogers 20:30 holdings 20:31 you can also find the many books that 20:33 he's written at gym rogers.com / books 20:37 some of my favorites adventure 20:39 capitalist street smarts and a personal 20:41 favorite is a gift to my children 20:44 Jim thank you so much for joining us I'm 20:46 delighted to be a Daniel I gym a lot of 20:50 people are getting concerned about the 20:52 economy because of the major indexes are 20:54 falling gold is is rising but you know 20:56 we've been through this so many times 20:57 before we're all the Sun the dead is 20:59 spotlighted the bonds the 21:00 unsustainability what is different about 21:03 now is there anything different about 21:04 right now in 2016 then in 2009 or 2012 21:11 the difference in 2000 @ today is in two 21:14 thousand that the market k & and 21:17 collapsed and and now we have the market 21:19 near all-time highs but the gigantic 21:22 your friendship seven years later with 21:25 massive amount of dead added massive 21:28 amounts of money printing a huge 21:30 artificial wave of liquidity around the 21:32 world and unfortunately we're all gonna 21:35 pay the price for it for the central 21:37 bank still uh I mean they've been able 21:40 to kick the can down the road I mean 21:42 after 911 in 2008 2011 when the when the 21:46 dollar are the Treasury got downgraded 21:49 by the SNP they always seem to be able 21:52 to just keep this thing going and they 21:54 keep it going for another decade 21:57 and no no they cannot i thought you 22:00 gonna stay for another month into 22:01 another corner and that's what not 22:04 not for another decade absolutely not 22:06 it's all gonna even long before that 22:09 Daniels for you should you should be 22:10 knowledgeable i know you are you should 22:13 be worried and you should be prepared 22:15 everybody should be worried and be 22:16 prepared when you say be prepared how do 22:19 you prepare well in many ways depends on 22:23 who you are where you are in your state 22:25 your station in life and other 22:26 disciplines what you should do if you're 22:28 sitting in Colombia and if you're 22:30 finding another facet vastly different 22:32 different things have your 19 years old 22:36 the whole lot different if you're 89 22:38 yourself so it depends on you and let 22:40 you know the the same the simple advise 22:42 you to stay with what you know whoever 22:45 you are with you yourself don't listen 22:48 to me or some guy here on the only 22:49 internet on the TV they wouldn't let you 22:52 know how otherwise do nothing 22:55 Jim for negative interest rates i mean 22:57 really it's negative interest rates or 22:59 021 percent so essentially no one's 23:02 getting anything from these bonds of 23:04 what is this what is the central bankers 23:06 exit plan i know that you you are not a 23:08 central banker you're obviously thank 23:10 god you're not but what what do you 23:13 think what do you suspect me what your 23:14 speculation what the hell are they 23:16 thinking what is their exit game 23:18 well this is all an experiment for them 23:22 if you read some of the things they say 23:24 especially an unguarded moment you'll 23:26 see that they really didn't know what 23:28 they were doing it just not with this 23:29 system is up in the air and see if it 23:31 works or not they didn't know that 23:34 nobody's ever done something like this 23:35 before but they're essentially the most 23:38 important thing are a very important 23:40 thing about the stander is this is the 23:42 first time in recorded history when you 23:44 get central bank government setting out 23:47 to destroy the people who save and 23:49 invest throughout history all of us were 23:52 talked save your money invest for the 23:55 future and then in the end you'll be 23:57 okay i know nearly everybody listening 24:00 this was taught that lesson they 24:02 wouldn't be listening right now 24:03 unfortunately off all those people are 24:06 now being wiped out you know getting no 24:08 interest it doesn't matter with your 24:10 pension fund 24:11 downing insurance company whatever you 24:13 are y'all getting wiped out these days 24:16 and that historically is going to be a 24:20 disaster 24:21 you need two people who save and invest 24:23 you need that class of people more than 24:25 anything else 24:27 well we're now rolling them and 24:29 unfortunately it's going to be a very 24:31 very serious problem with an inch 24:34 Jim the war on cash it seems to be X 24:37 accelerating however is there enough 24:39 time for them to implement the war on 24:41 cash where they phase-out currency for 24:44 them to get the maximum benefit of 24:46 having a casual society or they just 24:49 really wrapping this up too late 24:52 well too late it is it too late for the 24:56 difficulty I you know it's not too late 24:58 to get it done 24:59 will they get it done in 2016 no I mean 25:02 there's still millions hundreds of 25:05 millions of people oh don't have phones 25:07 in bank accounts etc etc so it will take 25:09 awhile to implement this certainly 25:13 worldwide or even nationwide in the 25:15 united states are they going to do it 25:17 yes they're going to do it it gives you 25:19 more power and more control and 25:22 unfortunately for all of us 25:23 governments throughout history of tried 25:25 for more power and more control they 25:27 like that power corrupts I'm not the 25:29 first person to figure that out and 25:31 they're going to continue to do it just 25:33 it good for you and they absolutely not 25:35 good for you and for that gives you more 25:38 control and unfortunately we're going to 25:40 have to face that problem and how 25:44 they're going to exist on this daniel 25:45 and told you at i don't know that i 25:48 don't know if they have a plant because 25:50 i read all the stuff that they talk 25:52 about best I can see is they say well if 25:54 nothing else we can just let this all 25:56 runoff and offered by a lot of bonds 25:58 someday the bonds mature and then 26:01 everything goes back to normal last 30 26:04 years it takes forever for all of that 26:06 to happen 26:07 a and B it's not going to work that away 26:11 because eventually the markets just 26:13 going to say that these guys we've had 26:16 enough enough is enough we don't want 26:18 your garbage paper anymore and then 26:20 might then we're going to have the real 26:21 crisis 26:22 crisis that comes from governments are 26:25 central banks trying to cool things off 26:27 is one thing but a crisis that the 26:31 market imposes on the world 26:34 those are the really really nasty things 26:36 and that's what
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