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JIM ROGERS Talks about his TRAVELS around the WORLD & TRUTH About World ECONOMY & POLITICS
James Beeland "Jim" Rogers, Jr. (born October 19, 1942) is an American businessman, investor and author. He is currently based in Singapore. Rogers is the Chairman of Rogers Holdings and Beeland Interests, Inc. He was the co-founder of the Quantum Fund and creator of the Rogers International Commodities Index (RICI).
Rogers does not consider himself a member of any school of economic thought, but has acknowledged that his views best fit the label of Austrian School of economics.
In 1970, Rogers joined investment bank Arnhold and S. Bleichroder, where he worked with George Soros. In 1973, Soros and Rogers both left and founded the Quantum Fund. During the following 10 years, the portfolio gained 4200% while the S&P advanced about 47%.[5] The Quantum Fund was one of the first truly international funds.
In 1980, Rogers decided to "retire", and spent some of his time traveling on a motorcycle around the world. Since then, he has been a guest professor of finance at the Columbia Business School.[6]
In 1989 and 1990, Rogers was the moderator of WCBS' The Dreyfus Roundtable and FNN's The Profit Motive with Jim Rogers. From 1990 to 1992, he traveled through China again, as well as around the world, on motorcycle, over 100,000 miles (160,000 km) across six continents, which was picked up in the Guinness Book of World Records. He tells of his adventures and worldwide investments in Investment Biker, a bestselling investment book.
In 1998, Rogers founded the Rogers International Commodity Index. In 2007, the index and its three sub-indices were linked to exchange-traded notes under the banner ELEMENTS. The notes track the total return of the indices as an accessible way to invest in the index. Rogers is an outspoken advocate of agriculture investments.
Between January 1, 1999, and January 5, 2002, Rogers did another Guinness World Record journey through 116 countries, covering 245,000 kilometers with his wife, Paige Parker, in a custom-made Mercedes. The trip began in Iceland, which was about to celebrate the 1000th anniversary of Leif Eriksson's first trip to America. On January 5, 2002, they were back in New York City and their home on Riverside Drive. His route around the world can be viewed on his website, jimrogers.com. He wrote Adventure Capitalist following this around-the-world adventure. It is currently his bestselling book.
Jim Rogers: Gold May Be In A 50% Correction
Gold fell to a 3-yr low last week but the precious Yellow metal's decline may not be over, says investor guru Jim Rogers, Chairman of Rogers Holdings.
"A 50 percent correction is normal in markets, so why not in gold?" Mr. Rogers said in an interview Monday. "The 12-year rise, 2001-2012, was an anomaly in markets, so the correction may continue to be an anomaly. There will be rallies after big drops, but I expect another opportunity to buy gold."
Gold posted a record high of 1,921 oz in September 2011. A 50% drop from that level would put Gold at 960.50 oz.
Feb Gold futures rose 10.10 on Friday to finish at 1,203.70 on the New York COMEX.
Mr. Rogers attributes the metal's decline not only to the 12-yr "anomaly" but also to developments in India, the world's 2nd-biggest Gold buyer.
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"Indian politicians are blaming their problems on Gold, so [they] have added special taxes, tariffs, controls, and regulations," he said. "The politicians are now trying to figure out ways to force Indians to sell Gold."
If they succeed, "who knows how low Gold could go?" Mr. Rogers said.
Many experts agree that the metal has more room to fall.
Southside risk still exists for Gold, as the Fed has only just started to taper, and people have become negative toward the precious Yellow metal because there is no immediate signs of inflation.
because of what I considered fundamental reasons for doing it, but the fact that Merrill Lynch was getting out buttressed in my own mind anyway that I must be right, because, you know, everybody was out. Who was left to sell? There was nobody left to sell at that point.
