jim rogers interview on bloomberg
- Thread starter S2007S
- Start date
It is ironic that ~80% of his client's funds were in US backed mortgage notes in this particular Rogers International Raw Materials Fund LP and only about 3 - 6% were in open commodity futures positions in this latest filing http://www.secinfo.com/d14D5a.u5HUm.htm
Net income is down about 40% and client withdrawal is markedly up year over year
Code:
6 months ended
6/30/07 6 months ended
6/30/06
Partnersâ Capital at beginning of period
$ 100,070,417 $ 108,221,418
Contributions
â 205,622
Net income
4,130,886 6,683,066
Withdrawals
(12,009,769 ) (2,235,707 )
Partnersâ Capital at end of period
$ 92,191,534 $ 112,874,399
Per unit data
06/30/07 06/30/06
Net asset value
$ 193.59 $ 202.09
Units outstanding
476,216 558,533My understanding is that Rogers doesn't manage these funds.
However, according to the statements from your link, the fund held 472 contracts of energy related futures. If, for example, those contracts were the size of the crude oil contract, 1000 barrels, and if we took the price of $70 as the value, then the total value of those contracts would be something on the order of $33 million.
The total value of their notes is about $75 million. So while this may be 80% of the value of the fund, clearly it is margining futures contracts, because just in energy contracts we may have $33 million in market value, plus the outstanding metals and agricultural contracts.
It's common for commodity traders to have their funds in interest bearing securities, and then use them as margin for the futures holdings. So when you make a statement that 82% of their money is in interest bearing securities, it really does not truly reflect the portfolio well at all.
OldTrader
No, I guess there is nothing ironic at all about a person who said "Get out of the dollar, teach your children Chinese and buy as many commodities as you can." and then keeps 80% of of the funds in US backed mortgage security. Long live Jim Rogers, his funds that he doesn't manage and his Mandarin speaking daugher.
Rogers is a total big mouthed a-hole who I'm quite confident is very over-rated. This clown has something to say about every thing.
He acts like some sort of big sh...t because he invests in indonisian palm oil or whatever dribble is coming out of his mouth at the present.
His alleged commodity fund likely makes its money by parking about 90% of the fund in T-bills which offset his trading losses.
I'm just thankful that I havn't seen him on TV recently. I wish he'd stay in Africa so the uniformed public, and myself, wouldn't have to hear about this wretch anymore. Hey, here's a better idea. How about NASA sends Jim to Mars to do some commodity exploration for the gov't. What's that 2 yrs out and 2 back? That's a guananteed 4 years that we won't hear a word out of this blabber mouth.
BTW - he probably got burned being short so now he's yaking his big trap about how the Fed got it all wrong. I got news for ya -- Jim is all wrong!!!!
He acts like some sort of big sh...t because he invests in indonisian palm oil or whatever dribble is coming out of his mouth at the present.
His alleged commodity fund likely makes its money by parking about 90% of the fund in T-bills which offset his trading losses.
I'm just thankful that I havn't seen him on TV recently. I wish he'd stay in Africa so the uniformed public, and myself, wouldn't have to hear about this wretch anymore. Hey, here's a better idea. How about NASA sends Jim to Mars to do some commodity exploration for the gov't. What's that 2 yrs out and 2 back? That's a guananteed 4 years that we won't hear a word out of this blabber mouth.
BTW - he probably got burned being short so now he's yaking his big trap about how the Fed got it all wrong. I got news for ya -- Jim is all wrong!!!!