Tuesday, April 28, 2009

Jimmy Rogers tells it like it is

Jim Rogers spoke his mind on Bloomberg TV - Singapore last night.

Here are some highlights of the interview with Betty Lu.

"If it hits the global economy like it did Asia 5-6 years ago it's going to be a disaster. As you remember, I think you were Asia closed down for about 6 months. People didn't goto school, they didn't go to work, they didn't ride the bus, they didn't get on airplanes. This could be a real disaster at a time when the world economy is already weakened."


"I hardly consider this an emerging markets problem, if you remember 5-6 years ago Singapore and Hong Kong which are hardly emerging markets were devastated by what happened. I mean in the US, so far apparently its hitting the US too, its certainly not hitting other markets, its hitting the big countries so far."


"Betty can you imagine what Karl Marx must be thinking right now! That poor guy somewhere is saying America is finally succumbing. The Automobile industry is owned by the government and by the labor unions. The banks, the financial institutions are owned by the government. What more could he want? When you look at America in 10 years what are you going to look back on?"

and one more...

"So i'm sitting here with some money, looking for things to invest in. The only things I can find where the fundamentals continue to improve are commodities, which we have discussed before on this show. The commodity fundamentals are getting better no matter what happens to the rest of the world. The fundamentals of General Motors are not getting better. The fundamentals of Citibank are not getting better."


Jim Rogers new book has also just hit the presses -- A Gift to my Children

Product Description-- [Amazon.com]

He’s the swashbuckling world traveler and legendary investor who made his fortune before he was forty. Now the bestselling author of A Bull in China, Hot Commodities, and Adventure Capitalist shares a heartfelt, indispensable guide for his daughters (and all young investors) to find success and happiness. In A Gift to My Children, Jim Rogers offers advice with his trademark candor and confidence, but this time he adds paternal compassion, protectiveness, and love. Rogers reveals how to learn from his triumphs and mistakes in order to achieve a prosperous, well-lived life. For example:

• Trust your own judgment: Rogers sensed China’s true potential way back in the 1980s, at a time when most analysts were highly skeptical of its prospects for growth.

• Focus on what you like: Rogers was five when he started collecting empty bottles at baseball games instead of playing.

• Be persistent: Coming to Yale from rural Alabama, and in over his head, Rogers never stopped studying and wound up with a scholarship to Oxford.

• See the world: In 1990, Rogers traveled through six continents by motorcycle, gaining a global perspective and learning how to evaluate prospects in rapidly developing countries such as Brazil, Russia, India, and China.

• Nothing is really new: anything deemed “innovative” or “unprecedented” is usually just overhyped, as in the case of the Internet or TV, airplanes, and railroads before it

• And not a bit off the subject, and very important: Boys will need you more than you’ll need them!

Wise and warm, accessible and inspiring, A Gift to My Children is a great gift for all those just starting to invest in their futures.

About the Author
Jim Rogers co-founded the Quantum Fund before he turned 30 and retired at age thirty-seven. Since then, he has served as a sometime professor of finance at Columbia University’s business school, and as a media commentator worldwide. He is the author of A Bull in China, Hot Commodities, Adventure Capitalist, and Investment Biker. He recently moved to Asia with his wife and daughters.