10 Quotes From The Always Charming Commodities Guru - Jim Rogers
China bull, commodities guru and bow
tie lover Jim Rogers started on Wall Street back in the 60s. He
co-founded the Quantum Fund with George Soros. At one point he essentially shorted Western civilization.
Now he's heavily invested in agriculture, gold, and silver. He is training his children to speak Mandarin because that's where he believes the futures lies. He is also short a major U.S. bank, though he won't say which.
We've put together 10 brilliant quotes from Rogers on China, gold and of course his favorite target, Fed reserve chairman Ben Bernanke.
Myanmar,
according to Rogers, has an attractive small stock market and few
public companies that are still being developed. This is a long bet for
Rogers who said that if people find a way to invest in Myanmar now, they
will be rich over the next 20 - 40 years.
Source: Bloomberg
Rogers
is so bullish on China he believes that educating his daughters about
China is the best thing he could do for them. He has bought them DVDs in
Chinese, and has even hired a Chinese nanny so they can master
Mandarin. Rogers has repeatedly said that he thinks the future is in
China.
Source: Credit Suisse
"At
some times in history, the financials types have been in charge; at
other times in history the people who produced real goods have been in
charge. It's the way the world has always worked. The key of course is
to figure out what's coming next and go there."
Source: BBC
Rogers
said that early in his career as an investor, he assumed others knew
more than he did, and he would try to mimic them. Over time, he found
that when he disagreed with them, he ended up being right. So he began
listening to himself over others.
Source: Investment U
Rogers
is not as optimistic on the other Asian giant, India. He believes the
country needs to open up its retail market and make its currency
convertible. He argues that politicians need to address the nation's
problems now instead of pushing them into the future:
Rogers
said that commodity prices have always gone up when a country is
printing money. And every government is printing money now.
Source: Reuters
Rogers
owns gold and isn't looking to sell it now. He has also said that he
wouldn't buy gold at these prices, but that he would be more interested
if prices fell below the $1,600 per ounce mark. He does however think it
is due for a correction because gold prices have been up 11 years in a row:
Rogers was shocked at the fuss over the U.S. downgrade, which he didn't think it was newsworthy:
Rogers has long been critical of Fed Reserve chairman Ben Bernanke and quantitative easing:
Now he's heavily invested in agriculture, gold, and silver. He is training his children to speak Mandarin because that's where he believes the futures lies. He is also short a major U.S. bank, though he won't say which.
We've put together 10 brilliant quotes from Rogers on China, gold and of course his favorite target, Fed reserve chairman Ben Bernanke.
"I don’t know any way to short either Harvard or Stanford."
Explaining
that ridiculous ideas work well for contrarian investors, Rogers said
that he sees bubbles everywhere including American tertiary educations
and European football teams. But that he doesn't know a way to short
either of those. Instead he is going to short the U.S. government bond
market.
Source: Investment U
"If you can find ways to invest in Myanmar you will be very, very rich over the next 20, 30, 40 years."
Image: Calvin Sun
"The most sensible skill that I can give to somebody born in 2003 is a perfect command of Mandarin."
Image: AP Images
"Become a Chinese farmer, that's what you should do."
Image: China Photos/Getty Images
“Swim your own races.”
Image: Donald Miralle/Allsport
"India is not a place for investors, but it's a fabulous country for tourists"
Image: AP Images
"India has a horrible economic system.
Indian politicians are of course now talking the right concepts and are
trying to implement them, but a lot goes wrong when they are put into
practice and run up against the country's thoroughly anti-capitalist
bureaucracy."
Source: Credit Suisse / Forbes"If the world economy gets better, commodities are very good place to be in... even if the world economy does not improve, commodities are still a fabulous place to be."
Image: Mamta Badkar
"It will end in a bubble when this is over."
Image: rheeks via flickr
"It will end in a bubble when this is
over. The way bull markets work is they go up and up and then by the end
they turn into a bubble and that will happen to gold.
…That could be five years, 18 years or six years."
Source: CNBC"The United States is the larger debtor nation in the history of the world. This is not news."
Image: Tom Pennington/Getty Images
"I know you have to report, you've got a
lot of viewers. This isn't even old news. This is not news. Everybody in
the markets knew this. Markets aren't going down because of this.
Markets are going down for many fundamental reasons. America's got
staggering problems, Europe has problems, China is slowing down."
Source: CNBC"Give the guy a printing press, he’s going to run it as fast as he can."
Image: Photo Illustration by Business Insider
"Dr. Bernanke unfortunately does not
understand economics, he does not understand currencies, he does not
understand finance. His whole intellectual career has been based on the
study of printing money."
Source: Bloomberg
