Jim Rogers on microfinance ventures

Jim Rogers: Sounds like a great idea, and at least in the beginning I guess it was, but it has collapsed as a concept. Isn’t the guy [Yunus] that won the Nobel Prize in prison? Or threatened with prison? But I don’t want to get into all that. It has nothing to do with him being right or wrong, but all of that is an indication that it might have been a great idea once in a small way, but since then – just like any other business – when too many people pile into it, when everybody piles into it, it becomes a problem with too much competition, too small margins, etc., etc. So, that’s my view of microfinance. No, it will not solve Bangladesh’s problems. It may make Bangladesh’s problems worse. We’ve had various types of things turn into Ponzi schemes, turn into pyramids, turn into disasters. Whatever is going to save Bangladesh is not going to be microfinance. Not now. - in Motley Fools





 
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%.