Lessons from a Legend: Jim Rogers

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Lessons from a Legend: Jim Rogers

December 09, 2009
By: Matthew Bradbard

A Gift to My Children: A Father’s Lessons for Life and Investing

Last night I took a trip down to Miami to visit with Jim Rogers at a book signing for his most recent book entitled: “A Gift to My Children: A Father’s Lessons for Life and Investing.” After speaking briefly about his 3 year tour around the globe he spoke a little about the aforementioned book and took questions from the audience.

These are the general themes I took away in no particular order:

Jim said numerous times he is a terrible market timer, he went as far to say he’s not the worst in the room but the worst in the world…very humble.

While Jim’s primary residence is in Singapore he also has a dwelling here in Florida, what I found interesting is that he rents and does not own his home here in Florida. The fact that he sold a lavish residence in New York before the real estate crash and rents here in Florida may be that his timing is better in real estate.

Though he waited later than most, he stated one of his proudest accomplishments was having children. For one of the most successful investors in our time that speaks volumes about the father he most likely is.

Not only did he move his family to Singapore but his two daughters will be fluent in Mandarin and Spanish.

He did not go into specifics about his bank accounts but his two daughters have Swiss bank accounts, not accounts denominated in US dollars. What does that say about his feeling on the US dollar?

He has no short exposure in US Treasuries, currently he thinks the multi-decade long bull market in this complex is over and he believed he would be taking a hefty short position at some time in the future.

Jim Rogers: Audit the Fed, Then Abolish It

One of the questions from the audience pertained to getting an MBA. Jim’s response in so many words was that it would be a complete waste of money and time. He suggested traveling around the world would be a more valuable experience. He went as far to say that sitting in a hot tub in Boston one could learn more than going to some of the prestigious universities there.

Jim had little good to say about the current choices Central banks are making and implied serious inflation is all but inevitable. He expects rates to be much higher but gave little time frame. He said jokingly we may run out of trees if the printing presses continue to run at their current pace.

The only real estate advice I recall him saying is buying a farm in the Mid-west to take advantage of the boom he expects in Commodity prices.

Bull cycles in commodities in the past have lasted between 18 and 20 years. In his view we have another decade or so in the current cycle.

As a commodity trader, what I found most interesting was that in his jacket pocket he had a gold and silver coin and a sugar packet. This was probably to prove a point but it really hit home with me and other audience members.

Globe “Overdue For a Currency Crisis”; Why Jim Rogers Is Buying Dollars

Perhaps one of the most staggering things to me was how little of the general population was in that room, the US and around the globe that are investing in commodities. It will change and I believe those that exercise discipline in the next 5-10 years stand to deeply benefit.
Find attached some historical pricing on several commodities to put things in perspective on how low and how high prices have been in the past and where we sit today. These figures are not adjusted for inflation. Being Rogers is a terrible market timer he suggested looking at buying when prices are depressed and selling when prices are elevated.

You draw your own conclusions.

A Gift to My Children: A Father’s Lessons for Life and Investing

MB Wealth Blog

Risk Disclosure: The risk of loss in trading commodity futures and options can be substantial. Past performance is no guarantee of future trading results.

What Recovery? America’s Problems “Getting Worse, Not Better,” Jim Rogers Says

*Note: Video’s are my edit. – MPM

Jesse Livermore: World’s Greatest Stock Trader (reading currently)

Pit Bull: Lessons from Wall Street’s Champion Day Trader

Crash Proof 2.0: How to Profit From the Economic Collapse

Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders

And my personal favorite (life changing in more than just investing):

The Zurich Axioms

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10 Comments on "Lessons from a Legend: Jim Rogers"

  1. The G Manifesto
    maurice
    09/12/2009 at 3:02 pm Permalink

    He has an unconventional view on investing, that’s for sure. The motorcycle-travel book was a good read and had good long-term perspectives on international markets, but I wouldn’t put down any money based on anything I read in them.

    Singapore? I didn’t know that. Mark Mobius lives in Hong Kong, or at least used to.

    MPM – you have any plans to be in Vegas on or after New Years? Just checking – I’ll be there for a few days before heading overseas for a year. Drop a line if so.

  2. The G Manifesto
    The G Manifesto
    09/12/2009 at 3:49 pm Permalink

    maurice,

    No, I don’t do new years.

    I will be in Caribe.

    Have fun good trip.

    Make sure you follow The Blueprint: http://www.thegmanifesto.com/2005/12/g-manifesto-tip-blueprint-of-perfect_05.html

    - MPM

  3. The G Manifesto
    maurice
    10/12/2009 at 1:03 pm Permalink

    yeah, i’ll be there for 3 days the week after new years. i have my own blueprint and places to go when i’m there – but i’ll definitely read all your vegas posts beforehand. enjoy your holidays and wishing you a prosperous ’10…

  4. The G Manifesto
    Seph
    10/12/2009 at 1:11 pm Permalink

    Hmm commodities he says, MPM what are your thoughts about a possible second – the personal debt – crisis?

  5. The G Manifesto
    The G Manifesto
    10/12/2009 at 4:03 pm Permalink

    maurice,

    Cool, you too.

    Let me know how it works out.

    - MPM

  6. The G Manifesto
    The G Manifesto
    10/12/2009 at 4:05 pm Permalink

    Seph,

    I think equities are way too high. Sidelines aren’t a bad place to be.

    And gold too high for the near term.

    But then again, I am not some Swami with a crystal ball.

    - MPM

  7. The G Manifesto
    Rich
    10/12/2009 at 5:40 pm Permalink

    dude you lifted most of this from another site, verbatim. you ought to stick to original stuff (or at least attribute).

  8. The G Manifesto
    The G Manifesto
    10/12/2009 at 6:08 pm Permalink

    Rich,

    Check the top of the article:

    “December 09, 2009
    By: Matthew Bradbard”

    - MPM

  9. The G Manifesto
    L'Étranger
    11/12/2009 at 7:48 am Permalink

    Trading , investing , speculating. Putting your hard money on the line, to get more money. Only one wolf in a pack full of sheep will even REALIZE it can be done. Thats the first step. Its always the biggest.
    “The Zurich Axioms” was my first eye opener.
    Now I trade commodities with my FX broker, using a Robot that buys and sells automatically. For personnal pleasure I play currencies news release , like this morning on the USD.

  10. The G Manifesto
    Chris R
    12/12/2009 at 2:36 pm Permalink

    http://www.youtube.com/watch?v=Ie5vNBnnWdg

    New DC tunes from Tabi Bonney

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