Interview with Jim Rogers

[wildmanchris]

I saw this interview on CNBC and although Jim Rogers (CEO of Rogers Holdings) might be over reacting a little, thought its nice to see some blatant honesty now and then.

http://www.cnbc.com/id/23588079/site/14081545

Disclaimer - I am not holding many stocks at all for the reason Jim states.

 

[Real1ty]

I saw this interview on CNBC and although Jim Rogers (CEO of Rogers Holdings) might be over reacting a little, thought its nice to see some blatant honesty now and then.

http://www.cnbc.com/id/23588079/site/14081545

Disclaimer - I am not holding many stocks at all for the reason Jim states.

I saw it also but all Jims interviews are exactly the same, not that he is wrong but if you have seen one you have seen them all.

BB is dumb, is destroying the $ and the Fed needs to be disbanded, buy agri and the Rembimbi.

He's a rippa as he doesn't hold back and says EXACTLY what he thinks

 

[Temjin]

Jim Rogers is my idol now!

That's what a contrarian should model him/herself to be! Go against the general public belief, think differently! Ignore your ego and don't give a s--t when people like those news reporter/journalists start laughing at your claims. Those guys are still on a PAYROLL while Jim Rogers have made hundred of millions.

Thanks for the link, it made my day today. hehe

 

[MRC & Co]

Great interview, very simple, commonsense and true!

Though, where was his mention of gold Not sure how he could mention soaring inflation and forget to put gold in the same breath......

 

[kloid]

First time I've seen this bloke and I like what he says. "Who cares if a few 29 year old Maserati driving investment bankers go bankrupt?" "

I think his point about a recession being inevitable is important and trying to avoid it by pouring in additional funds will only prolong the problem.

Anyway, Jim Rogers is now on my listen-to list.

Kloid

 

[refined silver]

I copied this article a a few years ago to a word document but not with the link. If you google the title you might get the link.

The following was received today from a friend at Financiere Banque Nationale in Montreal. I do not assume it was authored there but it is quite interesting. The original version was in French but it appears here in English.

Les Quatre Loups (The Four Wolves)

1948

Imagine if it were 1948, just after World War II ended, as had the Great Depression. Someone was jumping up and down asking you to buy the Dow or leading stocks when the PE ratio was below ten and their dividend yield was between six and eight percent. What would you have thought then? You would have looked at the past, extrapolated into the future and determined that person was crazy. At the time the Dow was 161, (when its previous high was 381 in 1929 and it would not hit that again until 1954). Richard Russell and George Schaefer were those persons encouraging everyone they could to get into the market.
Unfortunately, you would have made one of the greatest investment mistakes of your life by assuming Russell and Schaefer to be crazy. The Dow was about to begin its second legendary bull market of the century that would not end until 1966 at Dow 975.

1971

Imagine if someone in 1971 told you that gold, which was then at $35 an ounce, would be at $887.50 by the end of the decade. What would you have thought of them? Obviously, they were crazy, as gold had been at $35 an ounce since 1933. Again, most people extrapolated the past into the future and decided not to buy gold. Oh, yes. Richard Russell, James Dines, Harry Schultz and Jim Sinclair were those crazy people.
Well, you would have made the second greatest investment mistake of your life. In 1980 the Dow was between 800 and 850 and gold was at $887.50.

1974 or 1982

Let us move to 1974 or 1982. Imagine that someone was jumping up and down asking you to buy the Dow or leading stocks when their PE ratios were below 10 and their dividend yields were between six and eight. What would you have thought of them? You would have looked at the past, extrapolated into the future and determined that the person was crazy. Oh yes, Richard Russell was that person encouraging everyone he could to get into the market both times.
The Dow would experience the greatest bull market that the world had ever seen. It went from either 577 in 1974 or 795 in 1982 to 11,722 in 2000. Unfortunately, you once again had made one of the greatest investing mistakes of your life. To make it worse, you got into the market starting in 1998 or 1999 and you experienced horrific losses.

Now in 2003, what should you do? Sit on your losses and hope the market comes back or look now to see where the next great bull market is? Well, most people will sit and wait for another two to seven years before they do anything and then they will sell their stocks at exactly the wrong time and buy into the peak of whatever bull market is occurring to compound their error.

Today – 2003

Once again imagine today in late 2003 if someone told you that gold, which is at just over $400 an ounce, will be at $3000 - $10,000 an ounce by the end of the decade. What would you think of them?
Obviously they are crazy, as gold has been below $400 an ounce since 1996 and below $500 an ounce since 1983. Again, most people would extrapolate the past into the future and determine that they are crazy.

Oh yes, once again Richard Russell, James Dines, Harry Schultz and Jim Sinclair are those crazy people.

 

[theasxgorilla]

Great interview. I like how he gave Australia a nod. We're not shy! 10% mortgages here we come

 

[MRC & Co]

One thing gets me with their prediction for gold. $3,000-$10,000. Awefully large range, what is the deal there?

$3,000 at the end of the credit crisis if it continues to cause dramatic fallout, $10,000 if we go back to the gold standard and completely abolish fiat currency

?

 

[wildkactus]

I have been watching jim for a while now and he is always a straight shooter.
he has a few books out that are a good read.
1. Investment biker,
2. Adventure Capitalist,
these two are where he drives around the world a give commentry.
3. Hot commodities
4. A Bull in China, a good read for his take on where china fits into all this, and where it will go.
and he also has his web site www.jimrogers.com where you can get the run down on his last trip around the world.

 

[jovan]

How a man can travel through that many countries in that many years and come out totally unchanged from the experience - really amazes me. But this guy manages it. You can only explain it by his enourmous vanity and high opinion of himself.

Still the guy is brilliant. A top down investment philosophy that is so damn simple. Or he just makes it sound simple. You just can't help but like his ideas. Hard core economics. Investment Biker is one of the best books I've read. The one after isn't anything special, just repeats the same formula as Investment Biker but much crappier. The China one I haven't read.

 

[ozambersand]

'Socialism for the Rich'

The Fed's move to accept risky collateral is not part of the central bank's business, he added.

"What is Bernanke going to do? Get in his helicopter and fly around the world and collect rents? That's absurd," Rogers said.

A recession may be a good way to clean up the economy, while trying to prevent one may cost more and actually worsen the recession, Rogers said. Also, investment banks should be allowed to fail.

"Listen, investment banks have been going bankrupt since the beginning of time. If people make mistakes -- if you bail out every investment bank that gets in trouble, that's not capitalism, that's socialism for the rich," he said.

Couldn't agree more but who coined the term first, James Grant (see sig) or Rogers?

And does it mean we are in for another "Recession we had to have" to quote Keating! And to further the analogy if it is agriculture we have to get into - looks like it's bananas for us again! :

 

[noirua]