Investing : The Mistakes to avoid

In a phone interview with Yahoo Singapore last week famed Investor Jim Rogers when asked what he believed to be the biggest mistakes he has seen people from Singapore making when investing abroad, replied, “They don’t know what they’re doing. That’s the biggest mistake when investing anywhere, but especially overseas. Many people wind up investing in Norway when they can’t find Norway on the map.”
Investors, he said, should know currencies, bonds, governments, taxes and the like – everything, in short. “You have to know all that when investing in your own country, but even doubly when it’s a different country,” he said.
He would advise people to figure out what they know most about, whether fashion or cars, for example, and find investments in that field.
“The only thing people should invest in is what they know a lot about,” said Rogers, who has shown he knows what he’s talking about. - in Yahoo Finance Singapore

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%.