Jim Rogers on Bloomberg 11am ET

Quote from WallStGolfer31:




What do you guys see in this guy anyways?
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He's been one of the most successful guys in the past few decades on Wall Street. He made a fortune in the 70's with George Soros. He made some great calls in the 80's (bought bonds at the bottom in 1982, exited stocks before the '87 crashed, predicted the Japanese crash). He made a fortune in commodities in the last 8 years.

His genius is that he's able to see the world as it is, rather than with the deluded optimism that permeates the rest of Wall Street (new economy talk, dot com fever, real estate goes up to the sky). He's made more money than 98% of the people you see on TV or read about in the press. That makes him worth listening to for me.
 
Jim Rogers is eccentric, but a very original thinker..
For all the garbage that comes out mainstream newsmedia, it is refreshing to hear him. Each one of the points he mentioned (if he said it at all) have much validity and substance.





Quote from WallStGolfer31:

I'm at R.I.S.E right now at U of Dayton. They are hosting it for the 6th year in a row now. They had Jim Rogers here to speak on a "keynote" seminar. The guy is a nut. His actions scream for attention. He might have been a good hedge fund manager back in the day, but his old age has turned him cynical.

Here are a few things he said earlier today (not exact quotes, but extremely close, did not write them down)

1. The United States dollar will not exist in 10-15 years. Put your money in anything but US dollars or you will cease to have wealth.

2. He'd rather own real estate in Angola than in America.

3. He wants to completely shut down the Federal Reserve.

4. He thinks Ben Bernacke(sp?) is a complete idiot, but not s bad as Greenspan.



I can't take this guy seriously after hearing him spout off the bull I wrote above earlier today.






What do you guys see in this guy anyways?
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Rogers Can Make Refco Customers Jolly
07/06/06
Institutional Investor Daily-Hedge Funds


Investment guru Jim Rogers appears to be holding the key to happiness for many a customer of Refco Capital Markets, the unregulated Bermuda-based unit of the collapse broker. The Wall Street Journal reports that more than 50 RCM customers stand to share about $2.3 billion from the unit in a settlement that rests on Rogers’ OK, according to RCM court-appointed trustee Marc Kirschner, who views the proposal as “a potential resolution of the Refco case.” Under the proposed pact, customers with RCM securities accounts could receive more than 70% of their claims’ value, while foreign-exchange account holders would have to be satisfied with pocketing about one-fourth of their value, and a third group would have to settle for the return of their precious metals. Rogers, who claims his Rogers Raw Materials Fund is owed $362 million, reportedly is holding out while his lawyers negotiate, perhaps for a better deal. But time is not on the side of the proposal. If in two weeks, Rogers, the sole holdout and largest single Refco customer, doesn’t sign on, RCM liquidation proceedings would begin, and things will really get ugly if the impasse isn’t broke by mid-October, the Journal says. In other words: no deal, no recovery. Elsewhere in Refcoland, the former commodities broker has proposed entering into an agreement with GAIN Capital Group whereby the Bedminster, N.J.-based foreign-exchange firm would acquire the Refco FXA retail customer account information and related assets, as a way to allow customers to recover potentially all of their account balances.

http://www.dailyii.com/article.asp?ArticleID=1042174&LS=EMS79419
 
Quote from WallStGolfer31:

I'm at R.I.S.E right now at U of Dayton. They are hosting it for the 6th year in a row now. They had Jim Rogers here to speak on a "keynote" seminar. The guy is a nut. His actions scream for attention. He might have been a good hedge fund manager back in the day, but his old age has turned him cynical.

Here are a few things he said earlier today (not exact quotes, but extremely close, did not write them down)

1. The United States dollar will not exist in 10-15 years. Put your money in anything but US dollars or you will cease to have wealth.

2. He'd rather own real estate in Angola than in America.

3. He wants to completely shut down the Federal Reserve.

4. He thinks Ben Bernacke(sp?) is a complete idiot, but not s bad as Greenspan.



I can't take this guy seriously after hearing him spout off the bull I wrote above earlier today.
More...
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Like my positive post on him earlier.

2]And I pay much more attention to some one works than words;
last i looked he is much MUCH more invested in America than Angola

2b]If someone has proof of Angola RE trends;
lets see proof.

Talk is cheap,
glad to consider the Angola trends when it long trerm trends ;
& he does have a persistant problem with FED + chaimen:p
 
JIM DOESN'T LIKE THE US OR US.......HE IS MORE LIKE JOHNNY DEPP, MICHAEL JACKSON, TED TURNER....NOW THERE IS PROOF THAT RICH NUTS EXIST....SOROS??....... .......A LITTLE BIT ON THE EDGE OF STRANGE........SOMETIMES THE QUESTION ARISES.....ROOSTER OR HEN?
 
jim made all the money he ever wnated or needed.......and still is.........he is entertaining and very brilliant....he is another in the long line of guys who do not tend to come across as normal.........then again, neither did most of the very successful investors in history, with a few exceptions........i used to enjoy him on cnbc.....very different but no doubt world view with hard work to back it up.....nothing specific to invest your money on but long term thought provoking.....each investor needs to do the due diligence thing........rich folks want your money and you want theirs........
 
This is precisely the reason why I respect Jim. He does put his money where his mouth his..

In fact, from what I hear, he has sold his NY home, and is short several dollar denominated assets and is moving out of the US and into China.. And indeed has bought property in Angola..

As far as the fed, he's not alone in the camp that's fed up with the fed..


Quote from murray t turtle:

================
Like my positive post on him earlier.

2]And I pay much more attention to some one works than words;
last i looked he is much MUCH more invested in America than Angola

2b]If someone has proof of Angola RE trends;
lets see proof.

Talk is cheap,
glad to consider the Angola trends when it long trerm trends ;
& he does have a persistant problem with FED + chaimen:p
More...
 
i just read "Investment Biker" and really enjoyed it (by Jim ROgers). He has a newer one out too. He travelled the whole world, 60,000 miles on a motorcycle with his girlfriend (20 years younger - god bless America).

Talks about trends in each of the countries he is in. And basically, the cyclical nature of each of these places. To buy when a country is cheap - but with an impending catalyst to recovery. Big on supply and demand as opposed to govt intervention and frequently will take trades on the opposite side of an intervention as they are just not sustainable.

The sad part I find is he is and always will be referred and thought as of Soros's bitch. He knows that too and a lot of his pomp and circumstance is all to try to deflect from that...

Anyway - its a great read ( a bit dated) but i recommed it.

As far as his call on the US - I buy it 100% . The US is losing relevance by the day. Growing at 2 or 3%?? Massive trade imbalance. Massive debt. A currency just a hair trigger away from going into freefall. Huge health car/pensioner burden on the time horizon. Bursting housing bubble. Negative consumer savings rate. The president is irrelevant and bumblin. Gonna spend 2 trill on this little iraq fiasco. . The only real thing the US has got going for it is that many of the worlds wants trade in USD. THis is all going away. Iranian oil bourse for starters.

Brazil, Russia, China, India, growing at 10,20,30% Some no trade balance. The ease at which one can invest in any of these places - why would you put your money in the US???
 
His book would have been good if it was better written and not so centralized towards China. Just remember major world commodities are US Dollar denominated and it's likely to stay that way as long as we have the most powerful military. The fact is that inflation is so high it hurts all countries especially China. They can not sustain their growth and will experience global slowdown just like any other country. Artificial growth has it consequences. The big question regarding inflation will be the price of crude. If it keeps going up societies will have to slowdown to counter the inflation it's creating. Their is only so much upside for gold as a hedge against inflation, the dollar, and crude oil. The dollar will probably regain strength as most Americans are going to have to work harder to cope with inflation.
 
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