Thought I would add some value here while await the interviews from ET traders---- Trying to keep this thread alive---
Here's another interview I dug up from over a decade ago with the legendary Jim Rogers. The guy was kind enough to chat with me but conducted the interview while running on his treadmill in his NYC Brownstone. He was a super nice guy, but quite unusual at the same time---- enjoy!
This
week I was honored to be joined by a true icon in the world of finance, Jim
Rogers.Jim started with humble
beginnings and became one of the top money managers of all time. He is an inspiration
to people the world over who yearn for adventure and celebrate the human spirit.
This article will start out by providing Jim’s background, his basic investing
philosophy and then delve deeper into his mind via our conversation. It’s important
to note that he stressed that he is not a trader, but rather believes in waiting
patiently until the perfect time to buy or sell appears. He states that most
people need to be playing all the time; this is their downfall according to
him. He also believes that his flexibility to buy anything around the world
is the other key to success. Jim started in the markets in 1968 with just $600.00.
In 1973, he was fortunate enough to meet George Soros with whom he started the
Quantum Fund. Jim was the analyst at the fund with George being the trader.
This partnership proved to be a super success with gains approaching 4000% while
the SP 500 gained a measly 50%. Jim was able to retire at age 37 to follow his
passion for adventure and investments. His first worldwide adventure involved
riding a BMW motorcycle 100,000 miles across 6 continents. This trip is chronicled
in the book “Investment Bikerâ€. In 1999, he began the “Millennium Adventureâ€
where he and his fiancée, Paige (now wife) drove around the world in a custom
built Mercedes convertible. Jim documented every stage of this journey on his
website
www.jimrogers.com
and book “Adventure Capitalistâ€. His passion for investing has led to the creation
of “The Rogers International Commodities Index†and matching fund. This fund
has had the best performance record of any fund, regardless of class, over the
last several years with returns approaching 170 %. His latest book “Hot Commoditiesâ€
focuses on the coming monster bull market in commodities. He believes that the
time is perfect to go long the commodities we use daily. Things like sugar,
cotton, corn and oil are poised to follow thru or begin a bull market that should
last for the next 10-20 years. Let’s get started with the interview!
Hi my
name is Dave, I am executive producer of Real World Trading and I am
privileged to be joined today with Jim Rogers, commodity trader and world adventurer.
How are you today Jim?
Jim:
Doing just fine.
Dave:
First I want to start by getting a little of your history. I know you started
at five years old selling peanuts.
Jim:
I did in fact. I grew up in a small town in Alabama. There wasn’t much money
there, so we all started working pretty early. I worked for a concession in
the small town. Later I got the concession, sold peanuts and soft drinks. That
was my first venture.
Dave:
Talk about humble beginnings. I know you went to Yale, and then hooked up with
George Soros.
Jim:
Yes, I went to Yale, was in the army, and then met George Soros in 1970.