Jim Rogers on The Financial Times : My First Million

Since Jim Rogers, 67, co-founded the Quantum Fund with George Soros he has worked as a guest professor of finance at Columbia University and as an economic commentator. In 1998, he founded the Rogers International Commodities Index (RICI).

He is the author of A Bull in China, Hot Commodities, Adventure Capitalist and Investment Biker. His latest book is A Gift to My Children, a father’s lessons for life and investing.
Raised in Alabama, Rogers started in business at the age of five, collecting empty soda bottles at the local baseball field. After graduating from Yale University in 1964, he won a scholarship to Balliol College, Oxford. He then got his first job on Wall Street.
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The governments stop interfering with fundamental principles and let the market clean out mistakes

What could we learn from the Lehman Brothers lesson .
"We need some more Lehmans so we can get out of this."
" Over the past 20 years Messrs Greenspan and Bernanke introduced crony capitalism to the West which is leading to a lost decade[s]. Market fundamentals are that failures should collapse and be replaced by creative new forces rather than being propped up as zombies. Financial institutions have been failing for centuries and the world has survived. Had the central bank allowed the failure of Long Term Capital Management to run its course, Lehman, Bear Stearns, et al would still be here. Everyone would have lost so much capital and fired so many incompetents that the madness of serial bubbles (dotcoms, housing, consumption etc) would never have occurred."

Jim Rogers
Source FT.com


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We Need More Lehmans says Jim Rogers

lessons to be learnt from the Lehman

legendary Investor Jim Rogers says the financial system needs more failures like Lehman Brothers so that we can get out of the crisis for good .He wrote in the Financial Times :
We need some more Lehmans so we can get out of this.”

“Greenspan and Bernanke introduced crony capitalism to the West, which is leading to a lost decade(s),” Rogers wrote.

“Market fundamentals are that failures should collapse and be replaced by creative new forces rather than being propped up as zombies. Financial institutions have been failing for centuries and the world has survived.”

“Letting Lehman fail was perhaps the only thing governments have done right during this whole drama,” Rogers explained

Via