In the Investment World, Jim Rogers is remarkable. Unusually gifted. He is a legend.
He first became recognized when his Quantum Fund averaged 420% a year over a 10 year period when the S&P 500 averaged just 5% per annum. Rogers forecast the Commodity Boom and China Boom just before they began.
On May 2012 he stated "there's going to be a huge shift in American society, American culture, in the places where one is going to get rich. The stock brokers are going to be driving taxis. The smart ones will learn to drive tractors so they can work for the smart farmers who are going to be driving Lamborghinis.
JIM ROGERS: PARAMOUNT ADVICE TO ALL INVESTORS
To avoid making mistakes in this and future investment markets keep an eye on the Federal Reserve and Washington.
"Mr. Bernanke has no clue about economics or currencies, and no clue about how markets work. You have to be very careful and watch those guys. Many people for some reason have some kind of faith, even worship of the Central Bank like they know what they are doing. Its has only been in the past few decades people even knew who Central Bankers were. Nobody knew about these guys 100 years, 80 years ago yet now they have become exalted and that is a bubble.
Fortunately Central Bankers are going to pop and this particular crisis may well lead to it. In America we've had 3 Central Banks, the first two disappeared and this one will too in my view. They are making such horrible mistakes. " - read more HERE
Jim's talking commodities, moreso food. Farmers, really?
The Federal reserve is private, not government. The Fed will do what is best for the Fed and not the country. When it all collapses the Fed will do what all smart banks do. Get out of Dodge and enjoy their spoils. The carnage they leave behind is just the price of doing business.
Yeah, it turns out that folks like to eat. Lots of folks in Regina, Sask. where I grew up would plant potatoes in their front yards, I haven't seen that in +30 years though and I imagine this trend away from home grown foods will continue. At least until bread hits $10 a loaf.
When the state / provincial governments enact legislation against farmers children under a certain age from working on farms, that'll help too...
Rogers is coding his advise here. He is essentially saying a monetary crash is imminent- gold is a good hedge against a soft/collapsing green back but in a deep long term depression scenario (one that will make the dirty thirties look like party time) you can't feed or protect your family with it. Rogers is hinting that in the future the real hot commodities will be utilitarian assets like food, land, guns, ammo, shelter, water supply, fuel - all the things of self sustainability.
Yepper;I probably receive an average of two gold promoters in my junk mail each day. They all have made fan astic pronouncements on the future, guess they just want to help their fellow humankind.
Happy to let all of us jump on the bandwagon of gold will grow. Cheers;
420% per year for 10 years? #Mathfail.
In round numbers, that will turn $1 into $1,708,020. Rob, are you really sure of that? If it is true, no wonder Rogers is a legend.
If the total increase over 10 years were 420% that would still be a very respectable 15% per year.
John Lewis ur right I believe it's 420 % over ten years!
The global entitlement bubble is bursting to various degrees and now - as Rogers rightly points out, Ty currency bubble is about to.
Other than inflation little else can be the predicted result.
He was the Co-founder of the Quantum Fund with George Soros, which famously returned 4,200% to investors in the first 10 years. (The S&P only mustered up a 47% gain over the same period.)
http://www.wallstreetdaily.com/2013/04/17/investing-legend-jim-rogers/
47% over 10 years is about 3.9% annually, which sounds low but at least in the right kind of range. 4,200% increase over 10 years is about 46% annually (not 420%) which is very impressive to be able to sustain that.