Jim Rogers : Finance is finished. All those guys who got MBAs made terrible mistakes. They should go and turn them in for agriculture degrees,
it's finished. In 1958, America produced 5,000 MBAs. The rest of the world produced none. Last year, we produced 200,000 MBAs, the rest of the world produced thousands more. So that's massive competition in finance at a time when there's staggering leverage. In the old days, nobody in the financial world had leverage, or if so, it's very little leverage. And now, governments are very much against all of us. Politicians love to blame us for everything. They're passing special laws, special regulations, special taxes.
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%.
