Jim Rogers says that there is nothing like almost going broke to make you focus. This is exactly what happened to him in the 1970s when he shorted six stocks and the trade went badly against him. Margin calls forced him to sell out of his position with no equity left.
That experience taught Rogers how little he really knew about what he was doing and that he had to operate going forward more carefully and with more humility.
Rogers considers himself lucky to have had this experience when he was young and didn't have very much to lose.
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%.
